Auto Remarketing Forum 2019 by Mahindra First Choice is India’s only platform that brings together the major stakeholders of the pre-owned vehicle ecosystem. These great minds congregated to share ideas on tapping the unorganized sectors of the industry and how to make it bigger and better. The pre-owned vehicles are usually sold through a variety of outlets including franchise and independent car dealers, rental car companies, leasing officers, auctions and private party sales.
The forum, started in 2014, with basic participation of 30 people which has now grown to a gathering of 200 and more stalwarts of the pre-owned vehicles industry.
The event started with a speech by the CEO of Mahindra First Choice Wheels, Mr. Ashutosh Pandey who welcomed the gathering and shed light upon the theme this year which is – Crafting the Canvas. The theme is to encourage the people into coming up with different approaches that are needed for the growth of the industry.
Rajeev Dubey and Ramesh Iyer, who are front runners of the industry provided the keynote speeches addressing issues like the mindset of consumers when they go for a pre-owned vehicle and the recent growth in the industry.
There was a lineup of panel discussions with experts who talked about the changing trends of the pre-owned vehicle industry, efficient methods of providing consumer satisfaction, how to address the consumers' shifting mindset to buy pre-owned vehicles instead of new ones. Also, how the availability of online data helps both the consumer and the seller.
The Residual Value Awards were given to celebrate the most popular vehicles with the highest residual value. Tata and Hyundai were some of the very popular choices.
The event also had an interesting twist with a frolic activity, that was to guess the price of a few pre-owned vehicles that were shown to the gathering. The person who could guess the price or at least come close to it takes home a marvelous Jawa motorbike. The winner was announced in the end as Mr. Pankaj took the grand Jawa home.
The event was not just for the exchange of different ideas to take the industry forward, but an initiative taken to understand and make efforts to make the “first” car of an individual, be it pre-owned, a fulfilling experience.