Ideal Motors partnered with the Consumer Cooperative Societies’ Federation of Sri Lanka Ltd (COOPFED), whereby the entire range of Mahindra commercial and passenger vehicles, as well as all products marketed by the Ideal Group of Companies will be available at attractive discounted prices to the membership of all 300 facilities of COOPFED members, numbering eight million.
The agreement was signed at a ceremony held at the Ideal Motors Head Office by Chairman Ideal Group, Nalin Welgama and senior officials of COOPFED.
“This landmark agreement which is for a period of three years is available to the entirety of the COOPFED membership and it can only be a win win situation for both organizations”, said Welgama.
“The Ideal Group leads in both sales and aftermarket infrastructure throughout Sri Lanka. Our association with COOPFED will surely complement this, allowing us to serve its members in all provinces,” said Deputy Chairman, Ideal Group, Aravinda de Silvia.
The Sri Lanka Consumer Cooperative Societies Federation Ltd was registered on 15 September 1989 as the apex federation of the Consumer Cooperative Movement in Sri Lanka and commenced its business operations on 07 March 1990.
The need for an organization at the center to assist the Consumer Cooperative Societies was felt, hence the establishment of the federation with the contribution of the state.
Its main purpose is to supply consumer requirements of the member societies throughout Sri Lanka. COOPFED has gone a step further by opening up self-service shops in urban and rural areas as well as welfare shops in government offices and schools to further facilitate the purchase of goods at controlled prices.
Since November 2009, Ideal Motors has been the sole authorized distributor for Mahindra motor vehicles
and motor cycles manufactured by Mahindra & Mahindra Company Ltd India.
It has sold over 60,000 vehicles in the country and Mahindra has emerged as the market leader in the above one tonne category with over 50 percent market share, while maintaining a 45percent market share in the below one tonne category.
The turnover of Ideal Group is currently more than USD 150 million per annum.