Mahindra First Choice Wheels Ltd. (MFCWL), a part of the Mahindra Group, has reached the milestone of 300 outlets. The 300th franchisee outlet was inaugurated at Mulund in Mumbai on Wednesday.
The company, which has been growing at a rate of 35 per cent a year, is targeting to close this financial year with 350 outlets selling refurbished used cars through warrantee. It has outlets in 187 cities.
“We have emerged as India’s No. 1 multi-brand certified used car company. In the last financial year, we had sold 46,000 cars. This year the target is to sell 65,000 used cars. Our conviction is driven by the simple belief that a second-hand car buyer is not a second-class buyer,” Rajeev Dubey, President (Group HR, Corporate Services and After-Market) & Member of the Group Executive Board, Mahindra & Mahindra, said.
“Our focus on continuous innovation on the customer front coupled with a unique business model centred around dealer profitability has helped us to race to 300 franchisee outlets in a short span of six years. The opportunity for growth is immense, and we have just scratched the tip of the iceberg,” said Nagendra Palle, CEO, Mahindra First Choice Wheels.