Looks like Mahindra is getting more serious about online retail. After Mom & Me and Beanstalkshop, now MahindraFirst Choice Wheels Ltd. (MFCWL) is also planning to launch a virtual marketplace for used cars in January next year, reported Business Standard.
Rajeev Dubey, president, HR, after-market & corporate services, Mahindra & Mahindra Ltd, and member of the group executive board, 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.” He also added that, “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”.
In beginning, only registered dealers will participate in the sale and purchase of used vehicles, and later on it would be extended to consumers. Last year MFCWL sold 34,000 units and is aiming to sell 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 country.
MFCWL is the country’s preferred used car mart and has 214 outlets in 115 cities across India. The company plans to expand this number to 500 outlets in the next three 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-II towns and cities,” Dubey said.
Mahindra Retail runs the specialty retail chain for Mother & Child which caters to the life stage of -9 months to +9 years of the mothers and their children under the name of Mom & Me which was launched in 2009 and has crossed 100 ‘Mom & Me’ stores, and intends to cover 100 cities (from the current 45 cities) with the franchise route. Apart from Mom and Me Mahindra Retail also runs another ecommerce site under the name Beanstalkshop offering toys. Recently adding to the existing sites www.beanstalkshop.com & www.momandmeshop.in, it has launched two more properties i.e www.momslounge.in ,www.momsdiaries.in to target the category.