Shriram Automall clocks over Rs 10,000 crore transactions in 7 years

Shriram Automall India (SAMIL), the physical and online platform for exchange of used vehicles and equipment, has announced that it achieved transaction of over Rs 10,000 crore across its 73 platforms in seven years of operation. The company achieved this milestone by conducting around 580,000 transactions and serving over 680,000 customers.

SAMIL, as part of its seventh anniversary celebrations, conducted over 70 physical bidding events across India in a single day, which it claims makes it the first ever company to organise such a large scale event in a single day.

The company displayed over 10,000 vehicles and equipment valuing over Rs 150 crore for disposal, which it says is a new company record for a single day business transaction. The event was attended by over 8,000 people from Tier 1, 2 and 3 cities.

The company also has introduced its updated mobile application with an e-wallet feature which it says will help the customers to store their money online and transact for any vehicle or equipment in a hassle free manner. In 2017-18, Shriram Automall registered robust growth of 30 percent in its revenues. The company states that the strong business performance was backed by a record 8,300+ physical/online bidding events disposing over 130,000 used vehicles and equipments with transaction value of over Rs 2,000 crore.

Sameer Malhotra, CEO, Shriram Automall, said, “It's been seven years of trust, loyalty, understanding and belief our customers showed on us. I am glad how just a mere idea has turned into a company that has transformed the lives of thousands by offering the most transparent and unique physical and online bidding platforms.”

“Since day one, we have aimed to provide the best solutions and services to the customers and now it will further improve with additional services available at SAMIL for online marketplace through CarTrade Exchange platform and inspection services available through Adroit. With these additional services we will grow at a much faster pace and create new unlimited opportunities for our customers who have always shown abundance trust on us,” added Malhotra.

2011-2018

Umesh Revankar, MD, Shriram Transport Finance Company (STFC) said: “The way Shriram Automall has changed pre-owned automotive industry is exemplary. Today SAMIL is setting many new records and benchmarks. The industry and its veterans are recognising our efforts and have happily accepted our convenient and transparent concept for transactions of pre-owned vehicles and equipment. Yet there is a long way to go as there are many dreams that are yet to be fulfilled.”