Mahindra First Choice launches Autokart Refresh – Yard to auction quality refurbished vehicles

• This new concept will now have its first 20,000 sq.ft. yard in Chennai
• Mahindra First Choice aims to launch 40 New Autokart Refresh yards in FY22

Autokart Refresh is the flagship brand of Mahindra First Choice for wholesale auction of quality refurbished vehicles. The newly launched Chennai yard is spread over 20,000 Sq. Ft. which can hold 300+ vehicles.  This first Autokart Refresh yard was inaugurated in the presence of Mr. T A Rajagopalan, EVP, Consumer Finance Division, IndusInd Bank, Mr. Rohit Phadke, Head Retail Assets, Equitas Small Finance Bank and Mr Ramesh Kumar, President – Used Car Association of Chennai. Instituted as a one-stop solution for quality refurbished vehicles this will be a go to destination for Chennai dealers & broker for quality refurbished cars and Light Commercial Vehicles (LCVs). Great finance options for the brokers and dealers is also an add on benefit that the brand is offering. Mahindra First Choice plans to launch 40 Autokart Refresh yards in FY22 across India.

In such an eco-system the dealers get better quality vehicles that fetch higher value in the retail market. Autokart Refresh will provide retail as well as wholesale finance, insurance on the vehicles and hassle-free RTO transfers.

” Mahindra First Choice’s objective has been to organize the used vehicle ecosystem, and partnership between NBFCs, Banks, brokers, used car dealers, yard owners and other service providers is an article of faith for us. AutoKart Refresh carries forward this spirit of partnership and will hopefully become yet another useful service for all stakeholders.,” said Ashutosh Pandey, CEO & MD, Mahindra First Choice Wheels Ltd.

The dealers can also run asset-light model as Autokart Refresh has large yards to retain the vehicles until the dealers and brokers find the right buyers for their vehicles. Autokart Refresh will also be offering collateral free loan offer for the dealers in a program called Loan First.

Mahindra First Choice, the industry leader in the used car segment with 1000+ retail stores and largest enterprise auction platform eDiiG, trades more than 15,000 used vehicles every month. With the launch of the new format there will be a rise in volumes and channel MFC on the right growth track.