Mahindra First Choice Wheels (MFCW) already opened a showroom to sell used EVs; used car market based Droom and Cartrade too are showing interest
Used car market in India is pretty large but the pre-owned EV market is far behind in terms of development. But, with the ever changing scenario of the market, now various operators are showing interest toward the new segment, which has immense future-growth potential. Mahindra First Choice Wheels (MFCW) has already launched a showroom in Bengaluru, which will exclusively sell electric vehicles.
The MFCW showroom will also offer its own certification and warranty on the pre-owned EVs it will sell. Apart from that, other companies like Droom and Cartrade are also showing keen interest towards the used electric vehicle business. Despite being in a primary stage, the electric vehicle market has grown significantly in the last couple of years.
As the concerns regarding environment is growing among the car buyers, and more electric and hybrid vehicles are being launched in the country the EV market is about to grow further in future. Keeping that in mind, pre-owned car marketers are showing interest in the new segment. In large cities like Delhi, where environment pollution is much higher and with the stricter emission norms being applied, EVs are becoming a potential short-distance second car option, which will drive the market to grow further.
In the domestic market, Mahindra is known for its advanced electric powertrain technology. The automaker has built the first Indian EV in form of e2o and later launched the eVerito too. Apart from that, the company has introduced the hybrid technology to popular models like Scorpio also.
Apart from selling the pre-owned EVs individually, MFCW is also exploring possibilities for electric vehicle fleet, which will significantly improve the air quality by reducing the emission at large scale. The pre-owned car marketers believe that given the high pricing of electric cars in the country, used EVs would be excellent value for money.