Mahindra is looking to expand its used car business with plans to sell one lakh units every year by 2015, for which it will ramp up its outlets to 500 stores by 2015 from the existing 114 outlets. While most of the stores would be opened by franchisee partners, about 20 outlets would be company-owned under the brand ‘SuperStore’. There is a huge demand for second-hand cars with 14 lakh units being sold last fiscal and the market is growing at 20% every year. Mahindra FirstChoice sold about 10,200 vehicles in 2008-09 and is aiming to sell over 18,000 units this fiscal. It is expecting a two-fold jump in 2010-11.
