Companies

Mahindra First Choice enters pre-owned two-wheeler segment; to open 50 outlets in FY18

S Ronendra Singh New Delhi | Updated on January 12, 2018

Nagendra Palle MD & CEO, Mahindra First Choice Wheels

Mahindra First Choice Wheels Ltd (MFCWL), the multi-brand used car products and services arm of the Mahindra Group, on Friday entered the two-wheeler segment and plans to open 50 outlets by the end of this fiscal.

Unlike any other used two-wheeler business, the company will focus only on 250cc and above two-wheelers, such as Honda, Enfield and Harley Davidson products, it said.

“The used two-wheelers business is highly unorganised and our research indicates that our manufacturing brand translates to vehicles beyond passenger cars...and with a strong interest from our franchise partner, we want to give a trusted experience to the used two-wheelers buyer,” Nagendra Palle, Chief Executive Officer and Managing Director, MFCWL, told BusinessLine on the sidelines of the event.

Price range

The company has opened the first showroom at Wazirpur Industrial Area here, and two more outlets are soon expected in Mumbai and Bengaluru, he said.

Asked about the price range that will be offered to customers, Palle said it would be ₹1-7 lakh.

On quality and services of the products, he said MFCWL has 118 checkpoints for four-wheelers, and there will be at least 52 checkpoints for two-wheelers.

According to the company, the used car industry is estimated at $3.3 million in 2017 and, with its entry into commercial vehicles (around one-million annually) and two-wheelers (market size around 12 million annually), MFCWL has expanded its portfolio and addressable market significantly.

MFCWL has 1,290 outlets across the country and 60 per cent of its customers are first-time buyers.

With the latest move, the company’s pre-owned portfolio pan-India now includes passenger cars, utility vehicles, commercial vehicles, electric vehicles and premium two-wheelers.

Published on June 02, 2017

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