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Ashok Leyland ties up with Mahindra First Choice Wheels Ltd to enter the Used Commercial Vehicles Business
18th April 2022, Chennai: Ashok Leyland, the flagship Company of the Hinduja Group and India’s leading commercial vehicle manufacturer, today signed a MOU with Mahindra First Choice Wheels Ltd (MFCWL) to launch an exclusive hybrid ecosystem for its used commercial vehicle business. The phygital platform will facilitate an exchange and proper disposal and purchase of old commercial vehicles. With the entry into this segment, Ashok Leyland aims to streamline the used vehicle market by leveraging its digital ecosystem, its existing and potential channel partners for physical interactions in over 700+ Parking Yards spread across the country, and other advanced technologies. Through effective and efficient processes, the company will bring in more transparency into this space thereby increasing options to reduce the number of old vehicles plying across the roadways of India.
The customers will also have access to other value added services like iALERT telematics solution, Driver SAATHi skilling solution, valuation, breakdown services, fuel solutions, etc. through various digital solutions offered by Ashok Leyland.
Commenting on this business expansion, Mr. Sanjeev Kumar, Head - MHCV, Ashok Leyland, said, “It is a great moment for us on this association of AL with MFCW to provide larger option of our customers with combined strength of our knowledge in CV and MFCW strength on the yards, digital ecosystem. We believe this relationship will provide enhanced value to our customers. “
Speaking on the occasion, Mr. Kalyankumar Sidram Hatti, Head – UV Business, said, “We are glad to associate with MFCW in this new initiative of providing greater value to the customer as one step solution be it disposal. Exchange or hybrid (mix of both). This initiative is another step of Ashok Leyland in strong belief of collaboration, innovation, combined strength of physical & digital presence in the spirit of ‘Aapki Jeet. Hamari Jeet.’”.
Sharing his views over the tie-up, Mr. Ashutosh Pandey, CEO, Mahindra First Choice (MFCWL) said: “It’s our pleasure to collaborate with Ashok Leyland to expand their pre-owned vehicles business. eDiiG is the largest used vehicle auction platform and we are glad all leading OEMs see great value in partnering with us. Through the OEMs expertise of the Commercial Vehicle Segment and our phygital auctions platform which include 20,000+ eDiiG network strength spread across India, we aim to expand our bring forth further innovations in the pre-owned vehicle segment both for end consumers and institutional clients.”
Pre-owned or re-purposed vehicles sector is experiencing exponential and consistent growth since the beginning of the pandemic due to the increase in the waiting period for vehicles and financial challenges. Through facilities like exchange, disposal, hybrid, and special vehicle inspection, the platform aims to become the first choice amongst the customers considering an exchange of their vehicles. This will create an opportunity for Ashok Leyland to reach as many fleet and single truck owners across India, as possible.
In the fast moving world with exponential economic growth, customers are always looking at keeping their fleet upgraded and plan to exchange, dispose the vehicles after 4 to 7 years, which then fuels the secondary sales as used vehicles. Ashok Leyland offers the best of both the worlds of new vehicles as well as used vehicles through its unique exchange schemes, thereby living its brand philosophy of ‘Aapki Jeet. Hamari Jeet.’, continuously adding value to customer, throughout the life cycle of the vehicle, adding to their overall business profitability.
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