Mahindra First Choice Wheels inaugurates 4th Authorized Dealership in Thane

August 28, 2012, Thane: Mahindra First Choice Wheels Ltd. (MFCWL), Indias No. 1 multi-brand certified used car company today inaugurated its 4th authorized dealership in Thane. Fast Track Cars is located opposite Raheja Gardens, Near Tip Top Plaza on LBS Marg in Thane. The showroom will offer the entire range of services for customers including purchase and sale of certified used cars, car finance and insurance, fitment of car accessories and assistance with paperwork and documentation. The showroom was inaugurated by Mr. Yatin Chadha, Vice President Operations & Network, Mahindra First Choice Wheels Ltd. The new showroom also features the recently unveiled new look and feel of the brand. We believe used car buyers have the same aspirations as those who buy new cars. The used car industry often focuses only on the car transaction and not on the total experience of car-ownership. With this new store we hope to change this perception and create a unique, aspirational experience for the certified used car consumer, right from the point of entry till final exit from our showrooms. Our expanding network makes us well positioned to tap the potential of the certified used car market in the region, said Mr. Chadha Since its inception in 2008, Mahindra First Choice Wheels has maintained a reputation as a trustworthy and credible player in the Indian certified used car market. We are sure that this showroom will offer a great experience to consumers in Thane who are interested in buying or selling a car, he added. Mahindra First Choice Wheels already has a strong presence in Thane which is an important market for the used car industry and this new dealership will help it consolidate its footprint and address the potential of premium cars and SUVs in this region, said Mr. Sushil Sharma, Fast Track Cars. Mahindra First Choice Wheels is the countrys preferred certified used car mart and is Indias only organized multi-brand player, with 180 outlets in over 100 towns across India. The company plans to expand this number to 500 outlets in the next three years. This implies that customers will soon be able to choose from a range of certified used cars throughout India, including the metros and tier-2 towns and cities. Mahindra First Choice Wheels now has multiple outlets in all the major cities in India. Tremendous attention to detail is required to ensure that each certified used car meets a high level of quality. Before purchasing the car, a trained engineer thoroughly inspects the vehicle and also sees to it that all papers are in order. After purchase, every car is refurbished and undergoes an extensive 118 point quality check by a trained engineer, as part of the companys robust certification process. The objective behind the care and diligence exercised is to present the customer with a car in good condition. In short, buying a certified used car from Mahindra First Choice offers several advantages, including quality assurance, safety and a hassle-free driving experience. To give complete peace of mind to the used car buyer, the company has recently launched two new warranty products, namely WARRANTYFIRST and CERTIFIRST. Subject to specific terms and conditions, WARRANTYFIRST provides warranty for the major mechanical and electrical components of the car. The concerned components are covered for a period of 12 months or 15,000 km, whichever is earlier. The CERTIFIRST warranty covers the cars engine and transmission for a period of 6 months or 7,500 km, whichever is earlier. The products WARRANTYFIRST and CERTIFIRST thus, provide tremendous peace of mind to buyers of certified used cars. Mahindra FirstChoice has also recently launched its revamped website,www.mahindrafirstchoice.com. This new website has been developed to provide complete assistance to those wanting to buy or sell a car. It is also integrated with social networking tools like Facebook, Twitter and YouTube. To help car buyers make an informed decision, the website also has tools like the LIFESTYLE RECCOMMENDER and the TOTAL COST OF OWNERSHIP.

Mahindra First Choice also has retail finance relationships with major banks and NBFCs in the country. For helping car consumers buy their dream cars through loans, Mahindra First Choice has tie-ups with leading companies like HDFC BANK, MAHINDRA FINANCE etc. About The Mahindra Group The Mahindra Group focuses on enabling people to rise. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology and vacation ownership. Mahindra has a presence in the automotive industry,agribusiness, aerospace, components, consulting services, defence, energy, financial services, industrial equipment, logistics, real estate, retail, steel and two wheelers. A USD 15.4 billion multinational group based in Mumbai, India, Mahindra employs more than 144,000 people in over 100 countries. In 2011, Mahindra featured on the Forbes Global 2000 list, a listing of the biggest and most powerful listed companies in the world. Dun & Bradstreet also ranked Mahindra at No. 1 in the automobile sector in its list of Indias Top 500 Companies. In 2010, Mahindra featured in the Credit Suisse Great Brands of Tomorrow. In 2011, Mahindra acquired a majority stake in Koreas SsangYong Motor Company.

What is your corporate communication

Mahindra & Mahindra has received the Gold award for Brand Communicator of the Year at the 9th Asia Pacific PR Awards held recently in Hong Kong. This award is selected by a select panel of judges and recognises the brand or person that has set a new standard in communications strategy and execution in the AsiaPacific region. The Asia Pacific PR awards reward work across all disciplines that are essential in the PR process and are divided into several award categories with the Gold award being the most coveted.

Mahindra received this award for its innovative PR campaigns for Mahindra Satyam, Xylo, acquisition of Yancheng Tractors in China, and One Mahindra - the Mahindra Group intranet, among others.

The Asia-Pacific PR Awards represent the highest accolade in the public relations industry, honouring the very best in the region. The awards shine a spotlight on the campaigns and research that define cutting-edge thinking, and the communicators and agencies that are driving the industry forward.

The awards were independently judged by a panel of leading senior PR practitioners from agency and in-house environments. David Hall, Head of Group Communications (Asia), HSBC Asia Pacific officiated as the Chairman of the Jury. Jury Members included Hope Ewing, Senior VP & MD, Hong Kong and Singapore, Ruder Finn, Robert Grove, MD, Southeast Asia Edelman, Kenth Kaerhoeg, Group Communications Director, Coca-Cola Pacific Group, Richard J. Wright Director, Corporate Communications & Public Relations, Asia Pacific, BT among others.

About Mahindra & Mahindra Mahindra embarked on its journey in 1945 by assembling the Willys Jeep in India and is now a US $6.3 billion Indian multinational. It employs over 1,00,000 people across the globe and enjoys a leadership position in utility vehicles, tractors and information technology, with a significant and growing presence in financial services, tourism, infrastructure development, trade and logistics. The Mahindra Group today is an embodiment of global excellence and enjoys a strong corporate brand image.

Mahindra is the only Indian company among the top tractor brands in the world and has has made an entry in the two-wheeler segment, which will see the company emerge as a full-range player with a presence in almost every segment of the automobile industry.

The Mahindra Group recently expanded its IT portfolio when Tech Mahindra acquired the leading global business and information technology services company, Satyam Computer Services. The company is now known as Mahindra Satyam.

Mahindra's Farm Equipment Sector is the proud recipient of the Japan Quality Medal, the only tractor company worldwide to be bestowed this honour. It also holds the distinction of being the only tractor company worldwide to win the Deming Prize. The US based Reputation Institute recently ranked Mahindra among the top 10 Indian companies in its Global 200: The World's Best Corporate Reputations list.

Mahindra is also one of the few Indian companies to receive an A+ GRI checked rating for its first Sustainability Report for the year 2007-08.

PRESS CONFERENCE Mr. Bharat Doshi, CFO, Mahindra Group, Mr. Anand Mahindra, VC & MD, Mahindra Group and Ms. Sulajja Firodia Motwani, Managing Director, Kinetic Motor at a press conference in Mumbai to announce the merger

Mumbai: Mahindra & Mahindra Ltd. (M&M), one of India's leading automotive companies, today announced that its Board of Directors has approved the acquisition of business assets of Pune-based Kinetic Motor Company Ltd. (KMCL). The acquisition will be done through a New Company to be formed. (New Co.). The consideration for the acquisition is a sum of Rs. 110 crores (subject to closing due diligence) plus 20 percent stake to KMCL in the New Co. M&M will hold the balance 80 per cent of the equity.

The deal will enable Mahindra to design and market a range of scooters, value engineered motorcycles and high-end motorcycles for the Indian and global markets, helping it establish a robust, end-to-end two-wheeler business in every segment of the industry.

"The acquisition of business assets of KMCL is a defining moment in the history of Mahindra as it will give us an opportunity to emerge as a full range player with a presence in almost every segment of the automobile industry. KMCL is a strategic fit with our overall two-wheeler strategy. The strong in-house design and development competencies provided by Mahindra Engineering Services (MES) and the recent acquisition of Italy-based design house, Engines Engineering, coupled with KMCL's expertise will enable us to assume a significant position in the rapidly growing Indian and global two-wheeler market. I am also delighted to announce that Mr. Anoop Mathur, President Designate, Two-Wheeler Sector, will spearhead this new venture" said Mr. Anand Mahindra, Vice Chairman and Managing Director, Mahindra Group.

"KMCL is a company with a rich heritage spanning more than three decades. Over the years, we have introduced several new concepts such as the Luna and India's first gearless scooter which have revolutionized the two-wheeler industry. Hence, we are delighted to associate with Mahindra, another pioneering automobile company with a rich legacy which will add long term

value to the business and take it to greater heights, said Ms. Sulajja Firodia Motwani, Managing Director, Kinetic Motor.

Ms. Sulajja Firodia Motwani will be a Non-Executive Director in the new company.

Within the overall two-wheeler strategy, scooters will form M&M's entry point into the Indian market and will be an important part of the company's overall twowheeler product portfolio. There are several macro environmental trends which make the scooter market especially attractive to Mahindra. These include a younger, more affluent customer base with a significant number of empowered women and increased scooter demand in tier-2 cities and small towns. M&M is strongly positioned to cater to this demand, given the company's significant presence and brand equity in these markets.

For Mahindra, two-wheelers are an additional touch-point for consumers to interact and bond with the ever expanding universe of Mahindra products and services. Within the automotive space, it allows M&M to engage and build relationships with customers at a relatively early stage of the 'personal transport solutions' value chain. This will give an opportunity to place Mahindra in every household, given M&Ms dominant presence in the rural and semi-urban segments and Mahindra Finances extensive reach in these markets.

Moreover, the focus on more inclusive growth and improvement in rural transport infrastructure will only expand the demand footprint and increase two-wheeler penetration in semi-urban and rural areas as well.

India is the second largest producer of two-wheelers in the world. The two-wheeler industry has grown from 3 million in the Financial Year 1998 to 8 million in the Financial Year 2008. Domestic sales, which comprise 93% of total two-wheeler sales, have grown from 3 million in the Financial Year 1998 to 7.2 million in the Financial Year 2008, a CAGR of 9.2%. Despite recent market turbulence and volume decline due to tight credit situation, fundamental demand drivers for two-

wheelers in the country remain strong. With growing GDP, higher disposable household incomes and increased discretionary expenditure on personal transportation, outlook for the two-wheeler business in India remains positive. Also, penetration at 25% of households in the country is still low and augurs well for increased consumption.

With sharply rising environmental concerns and favourable consumer attitudes in the West towards green vehicles, two-wheelers provide cleaner, quieter, more fuel efficient transport solutions. While this presents excellent opportunities in the overseas market, the trend is expected in India and other emerging markets as well.

Founded in 1970, Kinetic has a rich history of innovation and has introduced several new concepts over the years that have revolutionized the twowheeler industry. Kinetic, in fact, brought the concept of personalized transport to India with the launch of the moped Luna in 1972. In 1984, it launched India's first gearless scooter which has come to symbolize comfort, convenience and universal appeal. Kinetic has also introduced new technologies to India including four valve engines, electric start on scooters and motorcycles, v- twin engines, USD forks, etc. It is also the only company to offer top-end world class bikes, Comet and Aquila, to Indian bike enthusiasts.

Mahindra is the market leader in Utility Vehicles in India and makes a wide range of vehicles including MUVs, LCVs, passenger vehicles and three wheelers. M&M offers customers over 20 models including new generation utility vehicles like the Scorpio and the Bolero. Over the years, Mahindra has been steadily growing in stature as an international automotive major with a footprint in several countries across the world.

About The Mahindra Group The US $6.7 billion Mahindra Group is among the top 10 industrial houses in India. Mahindra is the market leader in multi-utility vehicles in India It made a milestone entry into the passenger car segment with the Logan. Mahindra & Mahindra is the only Indian company among the top tractor brands in the world.

The Group has a leading presence in key sectors of the Indian economy, including the financial services, trade, retail and logistics, automotive components, aftermarket, information technology and infrastructure development. Mahindra is now poised to make an entry in the two-wheeler segment.

Mahindra's Farm Equipment Sector has recently won the Japan Quality Medal, the only tractor company worldwide to be bestowed this honour. It also holds the distinction of being the only tractor company worldwide to win the Deming Prize. The US based Reputation Institute recently ranked Mahindra among the top 10 Indian companies in its Global 200: The World's Best Corporate Reputation list.

Company History
On October 2nd, 1945, Mahindra & Mohammed was set up as a franchise for assembling jeeps from Willys, USA. Two years later, Mahindra & Mohammed changed its name to Mahindra & Mahindra. Ghulam Mohammed migrated to Pakistan post-partition and became the first Finance Minister of Pakistan. Mahindra and Mahindra started trading steel on behalf on European suppliers. In 1955, Mahindra and Mahindra was converted to a public limited company. Soon after that the Mahindra tools division started. After the formation of Mahindra tools, Mahindra Engineering and Chemical products was formed. In 1983, M&M led the Indian tractor segment. Post that incident they formed a joined venture with British Telecommunications to form Mahindra British Telecom. Keshub Mahindra was made the Chairman of Mahindra in 2007 from the post of Vice-Chairman and Managing Director. Mahindra has total revenues of US 12.5 billion dollars and employs more than 1,19,900 people around the world. The company has coverage in the vehicles market, the tractor market, information technology as well as significant present in financial services, leisure and hospitality.

Company Founder(s)
Mahindra & Mahindra was founded by two brothers - Jagdish Chandra Mahindra & Kailash Chandra Mahindra. KC Mahindra went to the United States of America as Chairman of the India Supply Mission. He met Barney Roos, inventor of the rugged 'general purpose vehicle' or Jeep and had a flash of inspiration: wouldn't a vehicle that had proved its

invincibility on the battlefields of World War II become ideal for India's rugged terrain, he thought. The Mahindra brothers joined hands with Ghulam Mohammed to become a franchise for assembling jeeps from Willy, USA. In the North Indian city of Ludhiana in Punjab, Jagdish Chandra Mahindra was born. The eldest of nine children, he lost his father at an early age. He believed strongly in education and made sure that his brothers and sisters studied hard. Jagdish Chandra studied at Veermata Jijabai Technological Institute (VJTI) Mumbai, one of India's premier engineering and technical institutes. JCs first stop job was with Tata Steel as the senior Sales Manager from 1929 to 1940. KC Mahindra was also born in Punjab. KC studied at the Government College, Lahore and Cambridge, UK. When he graduated from Cambridge, Mr. Sachinanda Sinha, Vice Chancellor of Patna University, introduced him to Mr. R.N. Mukherjee, Senior Partner of Messrs. Martin & Company. He started editing the monthly magazine INDIA and the Hindustan Review. KC moved to Bombay with his brother JC in 1946 to found Mahindra & Mohammed. Under his leadership as Chairman, Mahindra & Mahindra established itself as a major car player in the Indian market. He also served as Director of RBI, Air India, and Hindustan Steel and Chairman of Indian Aluminum Company. JC died in 1951 while KC died in 1963.