Left to Right: Vijay Nakra (Sr. VP - Sales and Customer Care, AD - M&M) , Rajeev Dubey (President - Group HR, Corporate Services and After-Market and Member of the Group Executive Board, Mahindra & Mahindra Ltd.) , Vijay Obhan (Mumbai) (Director - Automaxx) , Sanjay Duggal (Delhi) (Director - Car Choice), Joe Jose (Cochin) (Director - Focuz CarMart), Anand Mahindra (CMD - Mahindra Group), Amit Kumar (Muzzafarpur) (Managing Director - Vashu Motors), Nagendra Palle (CEO - MFCWL) , Yatin Chadha (Sr. VP - Retail Business, MFCWL), Tarun Nagar (National Head - Franchisee Operations, MFCWL)

September, 24, 2014, Mumbai: Mahindra First Choice Wheels Ltd. (MFCWL), India's No. 1 multi-brand certified used car company, today honoured its dealers from across the country at its Annual Dealer Performance Excellence Awards  held in Mumbai. Anand Mahindra, Chairman, Mahindra Group, graced the occasion, along with Rajeev Dubey, President (Group HR, Corporate Services and After-Market) & Member of the Group Executive Board, Mahindra & Mahindra Ltd., Dr. Nagendra Palle, CEO, Mahindra First Choice Wheels Ltd. and Yatin Chadha, SVP, Mahindra First Choice Wheels Ltd.

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. DPEP is an integral part of the MFCWL process and has been conducted every year since 2010. DPEP aims to ensure a consistent experience for the consumer by focusing on 5 major parameters to measure dealer performance, encompassing critical aspects of the used car transaction experience:

  • Business Performance
  • People & Processes
  • Infrastructure Facilities
  • Financial Performance
  • Corporate Sustainability

"My congratulations to all our dealer partners receiving awards today. 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 light of rapid growth in network and volume, these awards are testimony to the high level of performance delivered by MFCWL dealers across India. The 31 dealers received awards in several zones for Best Performance across the business experience and National X-Mart Performance. Focuz CarMart, Kochi was adjudged the Best Dealer overall, with Automaxx, Mumbai, Vashu Muzzafarpur and Car Choice, Delhi emerging as runners up. Aside from awards for the Top 4 All India dealers, there were also awards for various zones.

Today, in India, it is estimated that used car sales outstrip the sales of new cars by a factor of 1.2:1. The used car market is projected to grow at a 22% CAGR to a level of close to 8 million units by FY17. At this size, it would be 1.8 times the new car market which would still be lower than the used car to new car ratio in other developed geographies like the US and Europe.

MFCWL's vision is to build a used car ecosystem for India by bridging wholesale and retail channels while leveraging physical and online infrastructure. It is India's number 1 multi-brand certified used car company with 380 used car outlets across the country as on August 31st 2014 and is also India's leading online B2B wholesale auction site for used vehicles.

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. The company has launched a suite of products to support the creation of the used car ecosystem and empowering dealers, consumers and lenders in the process. Two products of particular mention are the Indian Blue Book (IBB) and Autoinspekt. IBB is the first transaction based used car pricing guide that has been developed using a proprietary analytical engine, the first of its kind in the country. Autoinspekt is an unbiased third party cloud based inspection service that provides a detailed vehicle report to prospective lenders, buyers or sellers of used cars. The company already has warranty products like Certifirst and Warrantyfirst which enhances peace of mind for the used car buyer.

About Mahindra First Choice Wheels

Mahindra First Choice Wheels Ltd. (MFCWL) is the country's preferred used car mart and is India's number one multi-brand certified used car player. The company plans to expand this number to 500 outlets over the next two years. This implies that customers will soon be able to choose from a range of certified used cars throughout India, including the metros and tier-2 towns and cities. MFCWL closed F-14 with sales of 57,000 used cars, which is 30% growth over the last financial year.

Tremendous attention to detail is required to ensure that each used car meets a high level of quality. Before purchasing the car, a trained engineer thoroughly inspects the vehicle and also sees to it that all papers are in order. After purchase, the car is refurbished and undergoes an extensive 118 point quality check by a trained engineer, as part of the company's robust certification process. The objective behind the care and diligence exercised is to present the customer with a car in good condition.

In short, buying a used car from Mahindra First Choice offers several advantages, including quality assurance, safety and a hassle-free driving experience. To give complete peace of mind to the used car buyer, the company has Warranty products like WARRANTYFIRST, CERTIFIRST and CERTIFIRST+.

Subject to specific terms and conditions, WARRANTYFIRST provides Warranty for all the major mechanical and electrical components of the car. The concerned components are covered for a period of 12 months or 15,000 km, whichever is earlier. The CERTIFIRST Warranty covers the car's Engine and Transmission for a period of 6 months or 7,500 Km, whichever is earlier while CERTIFIRST+ covers for a period of 12 months or 15000 kms, whichever is earlier.

The Warranty products come with the facility of 24X7 Roadside Assistance across the country. The 24x7 Roadside Assistance, subject to specific terms and conditions, assures the certified used car buyer that should the car break down, he will be provided assistance.

The Warranty product gives tremendous peace of mind to buyers of certified used cars. Mahindra First Choice has a website - www.mahindrafirstchoice.com - which provides complete assistance to customers wishing to buy or sell a car. Mahindra First Choice also has retail finance relationships with major banks like Mahindra Finance, HDFC, Kotak Mahindra and ICICI Bank for helping consumers buy their dream cars through loans.

Mahindra First Choice Wheels Ltd. also has a significant presence in the online space. Through its 'Autobid' auction platform it has sold more than 1.5 lakh vehicles till date.

The company has also launched a new product, the Indian Blue Book (IBB) (www.indianbluebook.com), which is the most comprehensive unbiased resource for consumers and dealers to determine the value of their used cars.

A new product for car evaluation called 'Autoinspekt' (www.autoinspekt.com) has been launched. Autoinspekt is an unbiased third party vehicle evaluation report to determine the condition, quality and value of a used vehicle. The report itself covers 53 parameters across 8 vehicle systems of the car and is prepared after physical inspection of the vehicle by a trained engineer.

About Mahindra

The Mahindra Group focuses on enabling people to rise through solutions that power mobility, drive rural prosperity, enhance urban lifestyles and increase business efficiency.

A USD 16.5 billion multinational group based in Mumbai, India, Mahindra employs more than 180,000 people in over 100 countries. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology, financial services  and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two wheeler industries.

In 2014, Mahindra featured on the Forbes Global 2000, a comprehensive listing of the world's largest, most powerful public companies, as measured by revenue, profit, assets and market value. The Mahindra Group also received the Financial Times 'Boldness in Business' Award in the 'Emerging Markets' category in 2013.

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