Mahindra First Choice Wheels inaugurates 1st authorized dealership in Hooghly, West Bengal

Mahindra First Choice Wheels Ltd. (MFCWL), India's No. 1 multi-brand certified used car company, has inaugurated its first outlet in Hooghly, West Bengal. The new outlet, Car Palace is spread across 1500 sq. ft and is located at Dasghara, Hooghly. It was inaugurated by Mr.Sabyasachi Das, Zonal Manager-East, Mahindra First Choice Wheels Ltd. This is the company’s 33rd outlet in West Bengal.

"We are delighted to partner with Car Palace which is an established name in Dasghara. Their expertise and knowledge of the local market coupled with our innovative and industry first products and services will enable us to increase our customer base in the region. This is our first outlet in Hooghly and we look forward to expanding our strong franchisee network further," said Mr. Sabyasachi Das.

"Mahindra First Choice Wheels enjoys strong brand equity in West Bengal as India's pre-eminent multi-brand used car company. Car Palace will serve as a one-stop shop, offering customers a range of services, including purchase and sale of multi-brand certified used cars, car finance, insurance, fitment of car accessories and assistance with paperwork and documentation," said Mr.Sadek Mallick, Car Palace.

According to Mr. Brian Denker, Vice President & Global Head of Growth, Innovation and Leadership, Frost & Sullivan, "A leader knows he has been triumphant when he has created an enterprise which continues to steadily grow and expand beyond the many disruptive and complex forces and transformational change happening around it. For more than 48 years, Keshub Mahindra has inspired an enterprise with a continued focus toward identifying growth opportunities through new ideas and inspirational innovations that has placed Mahindra's multi-national group on the map in today’s global marketplace and one that is committed to "enabling people to rise".

Mahindra First Choice Wheels' footprint in the East currently encompasses 142 dealerships and it further plans to expand this number to 170 outlets by year end. Key focus areas include Barddhaman, Mednipur, Nadia, etc.

Over the past seven years, Mahindra First Choice Wheels has not only emerged as India’s leading used car company but has also contributed to the creation of a used car ecosystem by bridging wholesale and retail channels while leveraging physical and online infrastructure.The company is driven by its mission to transform the way used cars are retailed and has introduced several innovations along the way.The company has received an excellent response from B&C category towns as well and is planning to close FY16 with 700 outlets.

The list of innovations include developing a unique franchisee based business model, selling certified multi-brand used cars under warranty and offering the most comprehensive warranty product available on used cars in the country, in addition to a differentiated consumer experience through launch of its 'Highline' stores for selling high-end multi-brand used cars.

MFCWL has also developed a variety of industry first products which use technology to ease used vehicle operations. The company has recently launched seven innovative products which are smart, simple, standalone tools that solve many challenges for every kind of stakeholder including consumers, dealers, financiers, leasing companies and manufacturers.

The used car market, with an estimated size of 3.2 million units, is already larger than the new car market and is growing faster than the new car market. The current slowdown notwithstanding, it is expected that the used car market will become almost double the size of the new car market in the next 5 years.

Source : Equity Bulls

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