Mahindra First Choice Wheels Ltd, one of India’s largest multi-brand pre-owned car companies, is aiming at 50 to 55 percent growth in sales in terms of volume in the eastern region of the country this fiscal, a top executive of the company said Thursday.
“In the last financial year we had sold a total of 3,365 pre-owned cars in eastern India. Currently the market is dynamic. This year we are expecting a sales growth of 50 to 55 percent,” Debdut Bagchi, zonal manager (East), Mahindra First Choice, said in Kolkata.
He said in the last financial year, the sales growth was about 40 percent.
“This year we are expecting a higher sales growth as the new car sales’ are dampened. At our showrooms we showcase multi-brand cars. Currently we sold 9 to 10 brands. So customers have more choice at a particular price range,” Bagchi said.
He said pre-owned cars at a price range of Rs.2 lakh to Rs.3 lakh and Rs.4 lakh to Rs.4.5 lakh were of high demand.
The company, which currently has about 10 percent market share in the organised pre-owned cars market in eastern region, is expecting that the share will reach at 12 percent to 13 percent at the end of 2011-12.
Bagchi informed that the demand for pre-owned diesel cars was increasing amid continuous hike in petrol prices.
“Demand for secondhand diesel cars is rising. We are now showcasing diesel cars also at our showrooms,” he said.
The company, which started its business 2008, currently has 140 outlets in over 70 towns across India. It plans to expand this number to more than 350 outlets in the next three years.