Mahindra launches used-car mart 'FirstChoice'

Mumbai, Aug 2: Mahindra Group Vice-Chairman and Managing Director Anand Mahindra unveiled the company's first multi-brand used-car superstore named ''FirstChoice'', formerly known as Automartindia, today.

On the occasion, Mr Mahindra said, ''FirstChoice epitomises the pioneering streak of the Mahindra Group. Formed in the late '90s when a slew of products were launched following economic liberalization, 'FirstChoice' gained advantage as the only organised used-car mart in its segment.'' He added, ''The organised part of the used-car business is poised to grow big in the coming years and we are all geared up for it.''

FirstChoice Chief Executive Officer Vinay Sanghi said, '''FirstChoice' will aim to offer services that can be benchmarked in the Indian used-car market, which is also the first of its kind in India. We plan to open six such outlets throughout India in the next 18 months.'' Andrey Purushottam of Mahindra Group, said, ''We have a very differentiated value proposition for the buyer and the seller.'' He added, ''The adoption of a new brand serves two objectives -- it creates distinction in a market full of similar sounding entities and clearly communicates the superiority of our value proposition because of which we should become the 'first choice' of consumers.'' As the leading player in the used-car market in the country, the superstore will offer a new and refreshing buying experience to its customers and is a three-way joint venture between the Mahindra Group, HDFC and Sah&Sanghi.

Located in Goregaon, a western suburb of Mumbai, the superstore is spread over an area of 40,000 square feet and has the capacity to display 150 vehicles at any given time. The superstore will house vehicles ranging from the quintessential Maruti 800 to the higher-end premium and luxury cars.

UNI