Mahindra is Giving Online Retail a Serious Thought
Mahindra is reportedly giving online retail a serious thought. After companies like Mom & Me and Beanstalkshop, now MahindraFirst Choice Wheels Ltd.(MFCWL) is also planning to launch an online marketplace for used cars in January next year, reported Business Standard. Board member Rajeev Dubey said, “The Virtual marketplace for used cars is likely to be operational by January next year.
Initially, it would be a D2D affair in which registered dealer with First Choice will participate. Later on, we will extend it to end consumers. We will work on the ‘clicks and mortar’ model, and have plans to become India’s largest virtual platform for used cars.” Rajeev Dubey also added, “This would enable us to sell our products on the web and the existing locations will facilitate physical transaction of vehicles.
With these initiatives we aim to organize this highly unorganized used-car segment”. MFCWL sold 34,000 units last year and is aiming at selling 46,000 cars by the end of this fiscal, and register a growth of around 35 per cent over the last fiscal. By 2015, it is targeting to sell 1, 00,000 cars across India.
In the early phase, only registered dealers will take part in the sale and purchase of used vehicles, and with time it would be extended to customers. With 214 outlets spread over 115 cities MFCWL is the country’s preferred place for buying used cars. An expansion plan is under way according to which the number of outlets will be bumped up to 500 in the next three years.