MFCWL acquires Autorisk Management Services

Mahindra First Choice Wheels Ltd (MFCWL), a multi-brand certified used car company, acquired the business assets of Autorisk Management Services for an undisclosed sum as per PTI. MFCWL has over 600 multi-brand used car franchise outlets.

With the acquisition of Autorisk Management Services, a leading player in the pre-insurance inspection services business in India, MFCWL enhances its inspection capability and reach across the country, the company said in a statement. These capabilities will add to Autoinspekt, MFCWL's vehicle inspection services, it added.

Commenting on the development, M&M CEO, Aftermarket Sector, Rajeev Dubey said: "This will enable us to provide vastly enhanced coverage, quality and efficiency of inspection services to our dealers and clients."

Commenting on the significance of the acquisition, Mahindra First Choice Wheels CEO & MD Nagendra Palle said: "Vehicle inspections is a growing service for us and we believe the addition of Autorisk's capability will support our overall growth agenda by adding a new and diversified client base with an enhanced resource footprint."

MFCWL's Autoinspekt is currently used by a wide array of clients for inspecting and valuing used vehicle assets, including passenger cars, utility vehicles, commercial vehicles and tractors, the company added.

In addition, it has sold over 3,00,000 vehicles through its online auction platform eDiig and conducted over 2,50,000 vehicle inspections through Autoinspekt.