Mahindra First Choice Wheels is expanding its digital presence with its recent investment in leading automotive portal CarandBike.com. This initiative will seamlessly integrate the online and offline user experience of Mahindra’s customers.
Ashutosh Pandey, CEO & MD of Mahindra First Choice Wheels Ltd., said “With this investment, we are confident that the complementary capabilities of MFCWL and CarandBike will enable it to become India’s largest hyper-local integrated content and commerce platform for automobiles. CarandBike will continue to operate as an independent company, with complete editorial independence and absolute journalistic integrity. A combination of CarandBike’s online and content expertise, and MFCWL’s leadership across all segments of used vehicle industry, will allow the development of a truly phygital business model in the automobile sector in the country.”
Mahindra First Choice Wheels, a subsidiary of the Mahindra Group, is recognized as India’s leading multi-brand certified used car company. It has contributed to the creation of a used car ecosystem by bridging wholesale and retail channels, while leveraging physical and online infrastructure.
Despite the slowdown in the automobile industry, the used car market is poised to double the size of the new car market over the next five years. This acquisition will lay emphasis on strengthening content leadership and adding new services for prospective two and four-wheeler customers. There will also be a special focus on improving the customer experience to connect those looking to buy used cars with dealers.
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