Mahindra First Choice Wheels (MFCWL), a leading multi-brand used car company, inaugurated its 10th authorized dealership, The Motorcade, here on Friday.
The dealership was inaugurated by Vice President- Retail Business (Franchise & COCO), MFCWL, Yatin Chadha in the presence of The Motorcade directors Anil Banka and Sunil Banka.
"We are leaders in pan India in the used car retail segment, with 260 outlets present in over 160 cities. We are tying up with the most reputed players we can find in Kolkata, who have been in this business for almost 25 years," said Chadha.
He said, "I´m sure this will give the right value and quality to the customers and the name of two reputed players will take business forward."
"We had launched products called ´Certifirst´ and ´Warrantyfirst´ a year back, here and today it is a very acceptable product in the country. Today we´re introducing two products-Indian Blue Book (IBB) and Autobid," he said.
IBB is a pricing tool on the MFCWL website, which a customer can use as a guide to check the buying and selling prices of used cars.
While ´Autobid´ is a valuation product, which provides a certified report on the pricing of automobiles available with MFCWL, in the used car segment.
The Banka brothers said that the association would strengthen people´s confidence in pre-owned cars, and open the market space even more.
Chadha highlighted that MFCWL closed with 46000 cars, estimating a growth of about 35%, in the last financial year.
The Eastern region currently has 52 MFCWL outlets.
Chadha also confirmed that the average prices of cars have shot up, although it varies depending upon regions and outlets, with Mumbai and South Delhi being the most expensive sectors.
He said that the demand for premium cars have increased reasonably, with people becoming brand conscious, and changing cars frequently.
According to him, the easing of excise by the Government of India has encouraged people to buy more cars, and the depressive economy has not affected the sale of pre-owned cars.
MFCWL is a multi-brand certified used car player of the USD 15.9 billion multinational Mahindra Group.
(Reporting by Rahi Bhattacharya)