ATLANTA -

As you're likely aware, it’s not just the U.S. that is seeing a booming used-car market.

India, in particular, appears poised for “accelerated growth” — nearly 167 percent, to be more precise — on the pre-owned side.

Bearing that in mind, Cox Automotive announced a strategic investment in a division of Mahindra Group that includes 650 used-car franchised outlets throughout India, a used-car pricing guide, an auction platform and third-party inspection business.

Nagendra Palle is the chief executive officer and managing director of Mahindra First Choice Wheels Ltd., and was looking forward to having the Atlanta-based company as an investor.

“We welcome Cox Automotive as a strategic investor in MFCWL and look forward to a long-term, mutually beneficial association,” Palle said. “Cox is a marquee brand globally and it’s great to see them enter India with MFCWL.”

More specifically, Mahindra First Choice Wheels Ltd. is a multi-brand certified used-car company in India. Its business units include Indian Blue Book pricing guide, the eDiig auction platform and the third-party inspection company known as Autoinspekt.

“Our investment in Mahindra First Choice Wheels Ltd. furthers Cox Automotive’s strategic plans to create and grow used vehicle marketplaces,” said Joe Luppino, chief corporate development officer at Cox Automotive. “This opportunity allows us to partner with a company with a reputation of delivering high-quality used-car products and services to dealers and consumers in the fast-growing Indian automotive market.”

MFCWL is described in Cox Automotive’s news release as a company whose “vision is to build a used car ecosystem for India by bridging wholesale and retail channels while leveraging physical and online infrastructure.”

Officials added: “Its unique franchisee-driven business model has transformed the way used cars are retailed in India, offering consumers a trusted used-vehicle marketplace and providing dealers with a variety of used car services, including physical and online auctions, vehicle inspections and transport. Backed by industry leading certification and warranty products, MFCWL also offers an array of consumer services such as vehicle inspections, insurance and financing.”

To illustrate just how important the Indian market is for automotive, consider these statistics shared by Cox Automotive:

India has the sixth largest new-car market, with new-car sales projected to grow from 3 million in 2014 to 4 million in 2019, according to Automotive World data shared by Cox Automotive.

Meanwhile, used-car sales are expected to hit climb from 3.6 million to 9.6 million over the same time period.

So, when you think about India having the third largest online population, that opens to the door for dealers, shoppers and the overall auto business, Cox Automotive emphasized.

“There is vast untapped potential in the Indian marketplace,” added Luppino. “With a suite of products that serves dealers, consumers, financial institutions and insurance companies, Mahindra First Choice Wheels is well-positioned to create an organized ecosystem for the used car market and capture value from its expected growth.”

This move is just the latest in Cox Automotive’s international ventures.  The company has invested in a used-car marketplace in China known as AutoSt., plus the BitAuto online car classifieds/content provider that’s located there, as well.

“This venture, along with other investments, such as the creation of RMS Automotive and the purchase of Brazil’s CarBizz, further strengthens Cox Automotive’s commitment to the global automotive marketplace,” the company said in its news release.