Mahindra First Choice Wheels acquisition
Date: 14 Oct 2015
Mahindra First Choice Wheels
Ltd. (MFCWL) (http://mahindrafirstchoice.com), India’s No. 1 multi-brand certified used car company, has acquired the
business assets of Autorisk Management Services Pvt. Ltd.
Autorisk Management Services
is a leading player in the pre-insurance inspection services business in India.
With this acquisition, MFCWL enhances its inspection capability and reach
across India. These capabilities will add to Autoinspekt, MFCWL’s industry
leading vehicle inspection services. Autoinspekt, today is used by a wide array
of clients for inspecting and valuing used vehicle assets including passenger
cars, utility vehicles, commercial vehicles and tractors.
“We are delighted to move
forward with the acquition of Autorisk’s assets and welcome them aboard
Mahindra First Choice Wheels. This will enable us to provide vastly enhanced
coverage, quality and efficiency of inspection services to our dealers and clients”,
said Rajeev Dubey, CEO, Aftermarket Sector, Group President, HR & Corporate
Services and Member, Group Executive Board.
“Vehicle inspections is a
growing service for us and we believe the addition of Autorisk’s capability,
will support our overall growth agenda by adding a new and diversified client
base with an enhanced resource footprint”, said Dr. Nagendra Palle, CEO &
MD, Mahindra First Choice Wheels.
“Autorisk brings over a decade of experience
in pre-insurance vehicle inspections. We see an opportunity to leverage their
experience in diversifying and growing Autoinspekt while adding resources
across India to serve our clients better”, said B. Ganeshkumar, Senior
Vice-president, eBusiness, Mahindra First Choice Wheels Ltd.
With Autorisk’s products and
services, MFCWL expands the suite of products and services targeted at
organizing and establishing the used car ecosystem. MFCWL’s hybrid model
continues to expand with over 600 multi-brand used car franchise outlets at the
end of September, 2015. In addition, MFCWL has now sold over 300,000 vehciles
through its online auction platform eDiig and conducted over 250,000 vehcile inspections through
Autoinspekt.
Source: Mahindra First Choice Wheels