The $6.3 billion Mahindra & Mahindra group is upbeat on growing its used car business. This year, it expects the sales volume from its multi-brand pre-owned car company - Mahindra First Choice Wheels (MFCW) to go up to 18,000 units from 10,255 last year. MFCW operates a country-wide network, spanning 114 centres, including 6 company-owned outlets, in the superstore and smaller formats.
While the group does not book direct revenue from the venture, the sale of pre-owned vehicles stood at Rs 220 crore last year. This is expected to breach Rs 400 crore this year, Mahindra & Mahindra president (HR, after-market and corporate services) and member of Mahindra Group Management Board Rajeev Dubey said in Chennai on Thursday.
Sales would double next year and reach one lakh vehicles by 2015. For now, it would focus on organic growth plans, MFCW CEO Shubhabrata Saha said, adding it would soon bring in place the '2S' model, whereby customers would get sales and service offerings under a single umbrella.
Source : http://economictimes.indiatimes.com/news/news-by-industry/auto/automobiles/MM-bets-big-on-used-car-business/articleshow/5511761.cms
While the group does not book direct revenue from the venture, the sale of pre-owned vehicles stood at Rs 220 crore last year. This is expected to breach Rs 400 crore this year, Mahindra & Mahindra president (HR, after-market and corporate services) and member of Mahindra Group Management Board Rajeev Dubey said in Chennai on Thursday.
Sales would double next year and reach one lakh vehicles by 2015. For now, it would focus on organic growth plans, MFCW CEO Shubhabrata Saha said, adding it would soon bring in place the '2S' model, whereby customers would get sales and service offerings under a single umbrella.
Source : http://economictimes.indiatimes.com/news/news-by-industry/auto/automobiles/MM-bets-big-on-used-car-business/articleshow/5511761.cms
No comments:
Post a Comment