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Mahindra First Choice today is at 1000+ franchise stores. Suraj Kumar, AVP –Sales & Operations, Mahindra First Choice, explains how the brand has brought in transparency and trust, which makes every franchisee and customer turn their dreams into reality
You’re widely credited with reshaping the culture of pre-owned cars in India. What strategy worked for doing the same?
At Mahindra First Choice Wheels, we believe in the power of organizing the used car market. Below we discuss in detail the changes that we brought in our strategic thinking that led to this incredible transformation. This led us to draft our vision “To evangelize used cars and organize the hitherto unorganized used car ecosystem” we have first of all brought vision to life: We brought the vision to life around three key pillars:
Making used car demonstrably superior to new car: We firmly believe that a used car is demonstrably superior to a new car at any price point . Being the pioneers in multi-brand certified used car player we have built capabilities through our 118 point certification to identify quality used cars that is backed by our Industry best warranty product. This combination of certification and warranty clearly differentiates us and helps us demonstrate the logic of buying a bigger used car over a new car.
Respectful buying and selling experience: Offering an experience that is at par with new cars. From customer’s first visit to delivery, the experience is in no way discounted, clearly differentiating our stores from any other used car dealers .
Making our partners profitable: We realized we can draft strategy , but the tangible demonstration of our vision is done by our franchise partners, so we recognized the importance of making our franchise partners profitable while they are delivering our brand vision.
Running a large franchise network is demanding, and you’ve been at this game since a long time. How do you maintain your growth?
The used car Industry according to estimates is as big or bigger than the new car industry. The organized section of the used car industry is still a small part of the overall industry and we believe there is lot of scope for growth and we have only scratched the tip of the iceberg. But the most important aspect of our growth is ensuring our dealers are profitable. This we do it through
• Identification of the right store
• Procurement and Pricing
• Used car technology
• Incubation and Nurturing
Brand differentiation that makes the brand stand tall in the industry.
The key brand differentiation for Mahindra First Choice stems from our class leading multi-brand certification and warranty product. In our ecosystem the car dealer buys a car, refurbishes the car and sells it to the customer. Cars bought by the dealer is refurbished as per our norms . The refurbished car is then audited and certified by our certification engineer. Our certification engineers are proficient in our trademark 118 point check system, where we train the engineers to check and rate all the core systems of the car covering engine, transmission , electrical, suspension system, etc. Their rating determines whether the car is of Mahindra First Choice standard. Dealer is allowed to sell the car as a certified car , only if its ratified by our certification engineers. Warranty by the company is offered only on certified cars.