MFCWL on a fast track to growth
Mahindra First Choice Wheels Ltd (MFCWL), a multi-brand certified used car company, recently registered 30 per cent increase in sales in the financial year 2014. Going further, MFCWL’s vision is to build a used car ecosystem for India by bridging wholesale and retail channels while leveraging physical and online infrastructure.
Currently, the company is having 380 used car outlets across the country and is catering to online B2B wholesale auction site for used vehicles as well. The company added 99 dealers in FY14, taking the company’s presence to 220 cities, which is a validation of its successful business model. The company is well on target to achieve its objective of setting up 500 outlets by FY16.Also, the company recently honoured its dealers across the country at its Annual Dealer Performance Excellence Awards which were held in Mumbai. These awards are part of MFCWL’s Dealer Performance Excellence Programme which seeks to recognise and reward its dealers based on overall operating performance across various areas of the business. "I am encouraged to see MFCWL continue on its growth path driven by the strength of its brand in the used car market. The company has grown in a very challenging environment, clear evidence of its value proposition and business model. With its continuous investments in technology and online products, MFCWL is also creating new markets with its innovations," said Anand Mahindra, Chairman, Mahindra Group.
“The DPEP process is the cornerstone of our business as it allows us to measure ourselves along with our dealer partners on how well we are delivering our customer value proposition through execution. As Mahindra First Choice Wheels scales rapidly (now nearing 400 outlets pan-India), the emphasis on exceeding customer expectations is going to be paramount. I am thrilled to see the progress we have made together, and I look forward to taking this relationship to even greater heights in the coming years,” said Rajeev Dubey, President (Group HR, Corporate Services and After-Market) & Member of the Group Executive Board, Mahindra & Mahindra Ltd.
This year, MFCWL celebrated its F14 performance with 31 dealers who qualified for the awards in several zones for best performance across the business experience and National X-Mart Performance.