Mahindra & Mahindra's pre-owned cars sales arm Mahindra First Choice has shared plans that it targets to sell at least 1 lakh used cars by the year 2014. The announcement was made by Mahindra First Choice CEO Shubhabrata Saha at a press conference in Coimbatore, where he had made an appearance to inaugurate the city's first Mahindra dealership.
Currently the unit has 60 outlets across India and last year alone had sold as many as 10,250 used cars. This year's target by the company has been set at 18,000, and over 9,000 have already been sold at various cities across the sub-continent.
Pre-owned or used cars reportedly have a market of 1.5 million vehicles a year, with a scope of 20% annual growth, a sector with a tremendous growth opportunity. More and more people are now coming forward to buy used cars, especially in Tamil Nadu.
CEO Saha also shared that the firm plans to open as many as 300 more outlets across the nation in order to fuel its attempts to achieve the 1 lakh sales by 2014 target.