Automartindia is now 'FirstChoice'

FirstChoice inaugurates India's first used car superstore in Mumbai

Mumbai, August 2, 2007: Mr. Anand Mahindra, Vice-chairman & Managing Director, Mahindra Group today unveiled the new corporate identity of Automartindia Ltd., which has been renamed 'FirstChoice'. On this occasion, he launched the company's first innovative multi-brand used car superstore in Mumbai. As the leading player in the used car market in the country with a pan India presence, FirstChoice's innovative superstore will offer a new and refreshing buying experience to its customers. FirstChoice is a three-way joint venture between the Mahindra Group, HDFC and Sah & Sanghi.

Speaking on the occasion, Mr. Anand Mahindra said, "FirstChoice epitomises the pioneering streak of the Mahindra Group. Formed in the late '90s when a slew of products were launched in the passenger car segment following economic liberalization, FirstChoice gained the first mover advantage as the only organised used car mart in its segment. The organised part of the used-car business is poised to grow big in the coming years and we are all geared up for it."

Mr. Vinay Sanghi, Chief Executive Officer, FirstChoice Ltd. said, "Our new identity epitomises our efforts to ensure top-of-the-mind recall among our customers. FirstChoice will aim to offer services that can be benchmarked in the Indian used-car market, which is also the first of its kind in India. The superstore is an effort in this direction. We plan to open 6 such outlets throughout India in the next 18 months."

Mr. Andrey Purushottam, Executive Vice-President "� Office of Strategy Management, Mahindra & Mahindra Ltd., said, "We have a very differentiated value proposition - both to the buyer and the seller. However, our brand name was not reflecting this differentiation. The adoption of a new brand serves two objectives: It creates distinction in a market full of similar sounding entities and clearly communicates the superiority of our value proposition because of which we should (automatically) become the 'first choice' of consumers."

Spread over an area of 40,000 square feet, this superstore has the capacity to display 150 vehicles on display at any given time. The Superstore is the first-of-its-kind in India and designed as a one-stop shop for customers. Located in Goregaon, a western suburb of Mumbai, it is FirstChoice's largest retail outlet in the country. Displaying an innovative and customer-centric approach, it offers a host of services to its customers, making car purchase a pleasant experience. The superstore will house vehicles ranging from the quintessential Maruti 800 to the higher-end premium & luxury cars. It will house a state-of-the-art shop floor set up to offer after-sales support to the customers. Also part of the superstore is a coffee shop for customers to deliberate and discuss with the sales staff and a play area for children.

FirstChoice is the country's preferred used-car mart and is India's only organised multi-brand player with a pan-India presence. FirstChoice has approximately 80 outlets across 54 locations throughout India. Innovation has been the hallmark of FirstChoice. It had earlier pioneered the concept of warranty on used-cars, which is now a benchmark for other players in the organised used car business. As part of its customer-centric efforts, FirstChoice provides certification indicating the exact condition of the car, helping customers buy good quality used cars.