Ashok Leyland, MFCWL partners to enter used vehicle market

Ashok Leyland, an automotive industry company, announced that it partnered with Mahindra First Choice Wheels to enter the used commercial vehicle market. The company has signed a memorandum of understanding (MoU) with Mahindra First Choice Wheels Ltd (MFCWL). As part of the partnership, the phygital platform will allow the exchange, appropriate disposal, and purchase of obsolete commercial vehicles. According to media sources, the commercial vehicle manufacturer's entry into this segment aims to streamline the used vehicle market by leveraging its digital ecosystem, existing and potential channel partners for physical interactions in more than 700 parking yards across India, and additional advanced technologies. The company would bring greater transparency into this market via effective and efficient processes, expanding alternatives to minimise the number of outdated cars travelling India's highways, Ashok Leyland told the media. Sanjeev Kumar, Head MHCV at Ashok Leyland, told the media that the pre-owned or re-purposed vehicles industry saw an exponential and constant growth since the start of the epidemic due to the rise in the waiting period for automobiles and financial constraints. According to the company, the platform aims to become the first choice among clients considering a vehicle exchange by providing services such as exchange, disposal, hybrid, and special vehicle inspection. The company said that it would also allow them to reach out to as many fleets and single vehicle owners as possible across India. Image Source Also read: Ashok Leyland to install new manufacturing plant to roll out EVs