Mahindra First Choice, the used car division of Mahindra & Mahindra (M&M) is targeting 500 outlets in India by the end of fiscal 2014-15. The company’s current number of outlets stands at 259 with the inauguration of its latest outlet in Mangalore.
Working with a time-bound roadmap for the Indian car market, the company plans to reach 300 outlets by the end of 2013-14 fiscal. According to Mr. Yatendra Chada Vice-President Retail Business (Franchise and COCO), the company sold 33,000 cars in the fiscal 2011-12 and 46,000 cars in fiscal 2012-13. He states that the company targets selling 60,000 cars in the fiscal 2013-14.
Mr. Chada further added that as per a CRISIL report, the used car market is 33,00,000 cars in India and thus there is enormous potential for growth in the used car space.
