Mahindra group is stepping into the market for used high-end motorcycles with its pre-owned vehicle selling company Mahindra First Choice Wheels Ltd (MFCWL). The brand opened its first outlet for dealings in premium motorcycles of 250 cc and above in the national capital. Mahindra plans to expand this venture with 50 more dealerdips across 15 other cities in the country within this year.
"During this month itself we plan to have four such showrooms in Delhi, Mumbai and Bangalore," MFCWL CEO and Managing Director Nagendra Palle told PTI.
"Our focus will be on the premium segment of 250 cc and above to start with and we may look at the lower segment later on,” he said elaborating on the company's plans for the used two-wheeler segment.
The company will be selling a range of certified premium bikes ranging from Royal Enfield and Kawasaki to Harley Davidson.
According to MFCWL Vice President Retail Business Tarun Nagar, the company had been planning on foraying into this segment, and that an interest from franchise is behind this decision. He added that there is an attractive opportunity in used two-wheeler market like there is in used cars.
MFCWL also opened its 1,290th pre-owned car outlet in Delhi on 2nd June. Palle said the target for the year is to have around 2,000 such showrooms across India this year.
There has been a surge in interest in premium motorcycles in India as more and more people embrace performance. Motorcycle brands have been introducing bigger, more powerful premium motorcycles in a market that is gradually growing larger.