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“People ask me when the Mahindra group would launch an ‘entry level' car. My answer to that is we already have entry level cars – Mahindra FirstChoice,” says Mr Anand Mahindra, Vice-Chairman and Managing Director, Mahindra group.
Mahindra FirstChoice is, however, not a car, but a company that sells used cars. The company opened a showroom in Chennai on Wednesday. Mr Mahindra, who had come here for the opening, observed that in most countries the first car a person buys is a used car.
According to Mr Rajeev Dubey, President (Group HR & After-Market) and Member of the Group Executive Board, Mahindra & Mahindra Ltd, in India, the ratio between new car sales and pre-owned car sales is at 1:1. “There is more potential in the market. With the economy growing, the pre-owned car sales will go up and even surpass 1:2.5,” he said.
Mahindra FirstChoice currently has 151 stores across the country, and majority of them are on the franchisee model. The company for the year 2010-11 sold over 28,000 pre-owned cars.
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