Business Line reported that Mahindra First Choice,the retailer of used cars,is to have some 500 outlets in the country by the end of 2015.The company is also planning to establish 10 outlets in J&K over the next 18 months.Mahindra First Choice is a multi brand car workshop and is a wholly owned subsidiary of Mahindra and Mahindra.
The company said that there is a need to provide services such as maintenance,sales and insurance in order to help car customers save time and money.The car service market is worth INR 20,000 crore and is expected to grow at a healthy pace.
Mr Rajeev Dubey,President,Mahindra First Choice,said that"J&K is a very lucrative market for the sale of used cars as every month more than 2,500 cars are sold alone in Srinagar.We are also planning to increase our number of outlets from 115 to 260 in different parts of the country by the end of March 2013."
The company is looking to file an IPO by 2015 to fund its expansion.
