Mahindra's Used Car Biz, Mahindra First Choice aims 30 Per cent Growth

Mahindra Mahindra's multi brand pre-owned car business, Mahindra First Choice is aiming around 30 per cent growth in sales this year, on account of aggressive network expansion. The company currently has 255 outlets, will open 100 more stores, taking its reach to 210 cities across India from 160 currently.

While the industry was facing a slowdown last year, the used car business was doing good, so as Mahindra First Choice, that sold 46,000 units last year. Speaking on the same, Mahindra First choice VP Retail Business Yatin Chadha said, "The overall auto industry was down last year. We managed to sell 46,000 units last year and this year we are targeting sales of 60,000 units of pre-owned cars,"

Speaking about the company's expansion plans, Chadha further said, "Last year we added 100 new showrooms. Our total is 255 outlets now. We will be adding another 100 this year and our presence will be increased to 210 cities and towns across India,"

"Apart from expanding the network, this year we will also focus on offering new products such as financing schemes or insurance for customers to drive the sales growth," he said.

When asked about the potential of the pre-owned car business, Chadha said: "The Indian total pre-owned car market is around 1.3 million units at present. We sold just 46,000 units last year. We have not even scratched the surface"

Source: ET