Hinduja Group flagship Ashok Leyland on Monday said it has joined hands with Mahindra First Choice Wheels to enter the used commercial vehicles business.
The company has inked a MoU with Mahindra First Choice Wheels Ltd (MFCWL) in this regard.
The phygital platform, as part of the partnership, will facilitate an exchange and proper disposal and purchase of old commercial vehicles.
With the entry into this segment, the commercial vehicle major aims to streamline the used vehicles market by leveraging its digital ecosystem, its existing and potential channel partners for physical interactions in over 700 parking yards spread across the country, and other advanced technologies, according to a statement.
Through effective and efficient processes, the company will bring in more transparency into this space, thereby increasing options to reduce the number of old vehicles plying across the roadways of India, Ashok Leyland said in a statement.
"It is a great moment for us on this association of Ashok Leyland with MFCW to provide larger options to our customers with combined strength of our knowledge in CV and MFCW strength on the yards, digital ecosystem. We believe this relationship will provide enhanced value to our customers," Sanjeev Kumar, Head - MHCV at Ashok Leyland, said.
Pre-owned or re-purposed vehicles sector is experiencing exponential and consistent growth since the beginning of the pandemic due to the increase in the waiting period for vehicles and financial challenges.
Through facilities like exchange, disposal, hybrid, and special vehicle inspection, the platform aims to become the first choice amongst the customers considering an exchange of their vehicles, Ashok Leyland said.
This will create an opportunity for Ashok Leyland to reach as many fleet and single truck owners across India, as possible, it added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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