With over two decades of experience in the used car industry, MFCWL has not only removed the stigma around used car purchase, but has also ensured higher customer satisfaction.
A cyclist, a drummer, a complete family man and the leading face of the fastest emerging used car retail brand in India, Tarun Nagar is everything that best describes an alpha male.In a quick chat with Utpala Ghosh, Tarun Nagar, Vice President - Retail Business at Mahindra First Choice Wheels Limited speaks about being a complete non conformist at work as well as in his personal life.
Mahindra First Choice is touching its 1000th store. Please take us through the journey so far. How has it been to grow with the brand?
When the company started out, back in early 2000’s (which preceded me), sales were still coming out from peer to peer sales and brokers. While all car makers had their used car arm with national presence, there was no player with core focus on used cars. But, we at Mahindra First Choice Wheels believed in the power of organising the used car market. We brought in our strategic thinking and a solid team that led us to transform the industry and the ensuing growth. A key insight that clicked us was that the expectations of a used car buyer are no different from that of a new car buyer. Our vision was -“To evangelise used cars and organise the hitherto unorganised used car ecosystem” for which we used the key strategy that included Providing a Trusted Brand experience (The Mahindra Brand), providing superior used car through refurbishment, certification and warranties, providing respectful buying and selling experience and making our partners profitable.
How Mahindra First Choice has been instrumental in bringing about changes in the franchise eco-system?
With over two decades of experience in the used car industry, MFCWL has not only removed the stigma around used car purchase, but has also ensured higher customer satisfaction, resulting in repeat purchases. Emphasising on making the franchisee-franchisor relationship stronger, we have always tried to enable the franchisee to deliver the value proposition of the brand. It has taken us years of experience to put a robust certification, warranty and training ecosystem that helped the dealers to garner lower operational cost and higher margins. Successful MFCW franchisees have had a paid back of less than a year with a ROCE of 25% over a 3 year period.
Three ‘must haves’ that you cannot live without?
Family, I-phone and Fitness Regime.
What do you do when you are not working?
Spend time with Family.
Tell us your mantra to unwind your mind.
I am ardent believer of “Invest 30 minutes a day doing a hobby you enjoy and find relaxation”. I practice and play drums.
What Makes Me
Favourite Alcohol: Glen Family
Favourite Gadget: I-phone
Favourite Sport: Squash
Workout Routine: 5 am to 7 am Mix of cycling/running/gym
Books You Read: Management & Leadership
The Car You Drive: BMW 5 Series
Favourite Cuisine: Soups and Salads
You Travel for: 20+ days a month
Hobbies: Music and Playing Drums
Favourite Destination: America