Mahindra First Choice Wheels, a leading multi-brand certified used car company opened its 259th national outlet, the first in this coastal city on Monday, and its seventh outlet in the state.

The company has drawn up a road map to take the numbers of such outlets to 300 by the end of current financial year and touch 500 outlets by end of the 2014-15 fiscal. The company now has 51 dealers in South India, including one COCO outlet at Hyderabad.

Yatendra Chada, vice-president, retail business (franchise and COCO) told reporters here that that company sold 33,000 cars in the financial year 2011-12. This went up to 46,000 cars at the end of last financial year 2012-13, he said, adding the company has set itself a target to sell 60,000 cars at the end of the current financial year. “The space for business in used car as per a CRISIL report is 3.3 million cars and we are only touching 60,000 cars,” he said.

Yatendra said the company is the market leader in online auction space, having sold more than one lakh vehicles through the autobid auction platform. The company, taking account of the customer’s feedback, has launched unique warranty products – warranty first for major mechanical and electrical components of the car and certifirst which covers the car’s engine and transmission. This is to ensure that the customers get value for their money, he noted.

The company has also launched a new product – Indian Blue Book, which is the most comprehensive unbiased resource for consumers and dealers to determine the value of their used cards. A new product for car evaluation by the name ‘Autoinspekt’ has been launched. This is based on the famed 118 point check list for cars evaluation by a trained engineer, with the objective to present the customer with a car in a good condition.