CarWale
    AD

    Mahindra sells 100 per cent stake in ‘First Choice Services’ to TVS Automobile Solutions

    Authors Image

    Jay Shah

    5,054 Views
    Mahindra sells 100 per cent stake in ‘First Choice Services’ to TVS Automobile Solutions

    Mahindra and Mahindra has announced that it has traded its 100 per cent stake in the subsidiary – Mahindra First Choice Services Limited (MFCS) to TVS Automobile Solutions Private Limited (TASL) for a consideration of Rs 21.5 crore. 

    With this transaction, MFCS no more comes under the ownership of Mahindra and will be wholly owned and managed by TVS. Presently, MFCS has a network of over 475 pan-India franchise partners and 100 plus distributors in over 350 towns across 25 states and two Union Territories. Meanwhile, TASL brings along a strong customer base of two million, 20,000 retailers, and 10,000 garages nationwide.

    R. Dinesh, Director, TVS Automobile Solutions Pvt. Ltd., said, “I am delighted with this deal as two great brands have come together for the benefit of the overall aftermarket ecosystem. India’s 10-billion-dollar aftermarket segment is fragmented and needs strong support for relevance and growth amidst changing technology landscape in the automotive sector. We would take this opportunity to bring thousands of entrepreneurs into a digital platform wherein they can get benefited from digital technologies across marketing, diagnostics, customer experience, quality parts, access to training, and digital payments. I am sure this partnership will be a win-win proposition for all the stakeholders.”

    V S Parthasarathy, President, Mobility Services Sector, Mahindra Group, said, “MFCSL has developed a large, trusted, multi-brand car service franchise and distribution network over the years. Our focus on quality and customer satisfaction has ensured that we continue to deliver superior value to our customers and channel partners. I believe that consolidation, scale, and phygital solutions will drive the next phase of growth for the company as well as the industry. I am confident that a strong partner like TVS ASPL will help take our legacy further and propel the company to the next orbit. I applaud the commitment and passion of our franchisees, distributors, and employees, and seek their support as we embark on the next phase of the journey.”

    Gallery

    Featured Cars

    • Popular
    • JUST LAUNCHED
    • Upcoming
    Maruti Suzuki Dzire
    Maruti Dzire
    Rs. 6.79 Lakhonwards
    Avg. Ex-Showroom price
    Show price in my city
    Mahindra Be 6
    Mahindra Be 6
    Rs. 18.90 Lakhonwards
    Avg. Ex-Showroom price
    Show price in my city
    Skoda Kylaq
    Skoda Kylaq
    Rs. 7.89 Lakhonwards
    Avg. Ex-Showroom price
    Show price in my city
    Tata Curvv
    Tata Curvv
    Rs. 9.99 Lakhonwards
    Avg. Ex-Showroom price
    Show price in my city
    Tata Punch
    Tata Punch
    Rs. 6.13 Lakhonwards
    Avg. Ex-Showroom price
    Show price in my city
    Hyundai Creta
    Hyundai Creta
    Rs. 11.00 Lakhonwards
    Avg. Ex-Showroom price
    Show price in my city
    Maruti Suzuki Fronx
    Maruti Fronx
    Rs. 7.51 Lakhonwards
    Avg. Ex-Showroom price
    Show price in my city
    Mahindra XUV 3XO
    Mahindra XUV 3XO
    Rs. 7.79 Lakhonwards
    Avg. Ex-Showroom price
    Show price in my city
    Toyota Camry
    Toyota Camry
    Rs. 48.00 Lakhonwards
    Avg. Ex-Showroom price
    Show price in my city
    JUST LAUNCHED
    11th DEC
    Honda Amaze
    Honda Amaze
    Rs. 8.04 Lakhonwards
    Avg. Ex-Showroom price
    Show price in my city
    JUST LAUNCHED
    4th DEC
    Audi Q7
    Audi Q7
    Rs. 88.66 Lakhonwards
    Avg. Ex-Showroom price
    Show price in my city
    Mahindra XEV 9e
    Mahindra XEV 9e
    Rs. 21.90 Lakhonwards
    Avg. Ex-Showroom price
    Show price in my city
    Mahindra Be 6
    Mahindra Be 6
    Rs. 18.90 Lakhonwards
    Avg. Ex-Showroom price
    Show price in my city
    BMW M5
    BMW M5
    Rs. 1.99 Croreonwards
    Avg. Ex-Showroom price
    Show price in my city
    Mercedes-Benz AMG C 63 S E Performance
    Mercedes-Benz AMG C 63 S E Performance
    Rs. 1.95 Croreonwards
    Avg. Ex-Showroom price
    Show price in my city
    Maruti Suzuki Dzire
    Maruti Dzire
    Rs. 6.79 Lakhonwards
    Avg. Ex-Showroom price
    Show price in my city
    Mercedes-Benz G-Class with EQ Power
    Mercedes-Benz G-Class with EQ Power

    Rs. 3.04 - 5.00 CroreEstimated Price

    9th Jan 2025Unveil Date

    Get Launch Alert on WhatsApp

    BMW New X3
    BMW New X3

    Rs. 65.00 - 70.00 LakhEstimated Price

    Jan 2025 (Tentative)Expected Launch

    Get Launch Alert on WhatsApp

    MG Cyberster
    MG Cyberster

    Rs. 60.00 - 70.00 LakhEstimated Price

    8th Jan 2025Unveil Date

    Get Launch Alert on WhatsApp

    Tata Harrier EV
    Tata Harrier EV

    Rs. 24.00 - 28.00 LakhEstimated Price

    15th Jan 2025Unveil Date

    Get Launch Alert on WhatsApp

    Maruti Suzuki e Vitara
    Maruti e Vitara

    Rs. 20.00 - 25.00 LakhEstimated Price

    15th Jan 2025Unveil Date

    Get Launch Alert on WhatsApp

    Tata Sierra EV
    Tata Sierra EV

    Rs. 25.00 - 30.00 LakhEstimated Price

    16th Jan 2025Unveil Date

    Get Launch Alert on WhatsApp

    MG Mifa 9
    MG Mifa 9

    Rs. 1.00 - 1.10 CroreEstimated Price

    15th Jan 2025Unveil Date

    Get Launch Alert on WhatsApp

    Hyundai Creta EV
    Hyundai Creta EV

    Rs. 22.00 - 26.00 LakhEstimated Price

    Jan 2025 (Tentative)Expected Launch

    Get Launch Alert on WhatsApp

    Popular Videos

    Mail Image
    Sign up for our Newsletter
    Get all the latest updates from CarWale
    • Home
    • News
    • Mahindra sells 100 per cent stake in ‘First Choice Services’ to TVS Automobile Solutions