Mahindra & Mahindra’s (M&M) pre-owned car unit Mahindra First Choice is reportedly aiming to expand its dealership network to tap into the fast growing pre-owned car market as new car sales remain stagnant. First Choice, which is still a small fraction of Mahindra’s overall auto business, is growing at 35 percent annually, while the used car market in India is growing at a rate of 15 percent.
This year, the company is expecting to grow 80-85 percent. Mahindra First Choice has four lines of businesses - Mahindra First Choice franchise dealer business, online B2B car auction business (selling 7,000 vehicles per month) and Inspection business called Autoinspekt and car pricing and analytics platform Indian Blue Book.
