Mahindra to sell one lakh used cars by 2014

India's leading auto manufacturer Mahindra & Mahindra planning to sell more than one lakh used cars in Indian market by 2014. In India, used cars business is continously growing from past few years and to tap more share from this growing used cars market, Mahindra and Mahindra has takes a fresh initiative to focus on its used cars arm Mahindra Firstchoice which is a multi-brand used car sales major from the group of Mahindra and Mahindra. According to the top company official, Mahindra Firstchoice plans to sell more than one lakh used cars by 2014.

Shubhabrata Saha, CEO, Mahindra First Choice Ltd, said, "The Mahindra Firstchoice has its 60 outlets across the India and it soild 10,250 units of used cars in Indian market last year and it is expected that it will sell more than 18,000 units of used cars this year, out of which more than 9,000 cars have already been sold."

He added that The company is confident of selling one lakh used cars by 2014 and the company would open more than 300 outlets in Indian market by then.

He also added that used cars have market of 1.5 million units of vehicle in a year and it is growing with 20 percent of annual growth. According to him there is a tremendous potential for this used car market, with more people coming forward to buy used cars, particularly in Tamil Nadu. He added that the company had recently opened its used cars 'superstore' in Thiruvananthapuram and the company plans to introduce one more in Kochi and another in Bhopal.