Shriram Automall Establishes a Strong Foothold in the Pre-owned Auto Sector

India’s one-stop destination for pre-owned vehicles and equipment, Shriram Automall India Limited (SAMIL) marked an aggressive establishment of its foothold within Indian Automobile Industry during FY14-15. Despite of a challenging market scenario, SAMIL emerged out to be a trailblazer with its impressive strategy of reaching out to the masses. While inclining its major focus towards South India, the Company reported maximum Automall launches during last fiscal as compared to the same period of previous years, since inception. Overall 18 Automalls were launched, pan India. Moreover, the service provider recorded a benchmark figure for its pan-India presence in FY14-15 after launching its 50^th Automall facility at Sohna, Haryana. In the addition to this, SAMIL added value to its expansion plan through a new head office, launched today. With this, the Company enhances its workforce within current and newly-launched segments.  

“Since inception, SAMIL had been working relentlessly towards transforming the pre-owned segment of auto sector with its transparent approach towards deals. Our objective of making the market completely organised is gradually taking shape with the trust of our customers and together with them, we aim at a successful journey ahead”, stated Mr. S. Lakshminarayanan (Chairman of SAMIL) at the new head office launch.

SAMIL’s concentration on expansion plan for FY14-15 made way for a growth across all dimensions. The Company marked maximum additions to its clientele portfolio in comparison to previous fiscals and recorded 14 strategic tie-ups with major industry players, including banks, manufacturers and finance companies. Today, it extends holistic services through unique bidding platforms and services in order to create a lucrative disposal experience for Honda Motorcycle and Scooter India, New Holland, State Bank of India, Escorts and many more. The current update in SAMIL’s clientele list reports 22 tie-ups across its different segments.

“FY14-15 had been an incredible phase of our journey at SAMIL due to a substantial growth and initiatives reported in comparison to the previous years. With this success, we are eyeing at a strong growth during FY15-16 while fulfilling the dreams of our customers”, quoted Mr. Umesh Revankar, MD of STFC while sharing views over the Shriram Automall’s growth story in FY14-15.   

SAMIL marked an impeccable introduction of three major segments during last financial year, including Two-Wheelers, Gold & Housing, to facilitate their exchange on its bidding platforms. While housing has been introduced only on the online bidding platform (property.samil.in), the other segments have been successfully launched across all the platforms. Various bidding events (online and physical) have been conducted for two-wheelers and gold with an exceptional performance posted within the gold segment. The Company also launched gold.samil.in, a dedicated website for gold bidding events.    

Throwing light over the success explored by SAMIL during FY14-15, Mr. Sameer Malhotra, CEO of SAMIL, stated “While reporting maximum sales within pre-owned commercial vehicles segment, SAMIL witnessed growth in sales across its different segments, including cars & SUVs, farm equipment, three wheelers, two wheelers and construction equipment. In the retail business, we have recorded a growth of 111%. Through an extensive pan-India presence, we also established a strong customer base with our unique bidders, buyers and sellers”.

In FY14-15, SAMIL took its regular bidding events on to a new level and began a new trend of celebrating Anniversaries of its Automalls. Beginning with Shriram Automall Manesar, the Company conducted 11 Anniversary Special Bidding Events at Shriram Automall Manesar, Panvel, Hyderabad, Jammu, Tirunelveli, Jaipur, Hubli, Aurangabad, Bangalore, Raipur and Chennai. Special offers, lucky draws and free health check-ups were offered to the participants of these events, which resulted in building a strong customer-connect. Under its Customer Relation Programs, SAMIL distributed more than 1000 Privileged Bidder Cards through Driving Your Trust and around 300 students, across India, grabbed scholarships through Education Scholarship Program.

In near future, the Company aims at reaching 60 Automalls in its pan-India presence. Currently, its 50 Automalls have been strategically located in different locations of the country with 20 in South India, 18 in North India, 6 in East India and 6 in West India. After creating an incredible growth story with prominent industry players in FY14-15, SAMIL eyes strongly at FY15-16, which showcases immense potential within the pre-owned commercial vehicles and passenger cars segments.

About Shriram Transport Finance Company (STFC)

Shriram Transport Finance Company Ltd. is the largest asset financing Small Business Finance Company (SBFC). The company is a leader in organized financing of pre-owned trucks with strategic presence in 5-12 year old trucks and a market share of around 25%. It has a pan-India presence with a network of 630 branches, and employs more than 18,000 employees including 11,243 field officers. The company has built a strong customer base of approx. 1.10 mn. Over the past 34 years, it has developed strong competencies in the areas of loan origination, valuation of pre-owned trucks and collection. It has a vertically integrated business model and offers a number of products which include: Pre-owned CV financing, New CV financing and other loans like accidental repair loans, tyre loans and working capital finance, etc. For more information please visit www.stfc.in.

About Shriram Automall India (SAMIL)

Shriram Automall India Limited (SAMIL), one-of-its kind facility, is a wholly owned subsidiary of Shriram Transport Finance Company (STFC). It is India's first-ever service provider that offers various well organised and transparent bidding platforms, including physical, online, one stop classified and negotiated deals, for acquisition & disposal of pre-owned commercial vehicles, construction & industrial equipment, tractors & agricultural equipment, passenger vehicles, three wheelers and two wheelers. The company also provides various allied services, including New Look Refurbishment services, valuation, parking and finance (through STFC). It has successfully launched more than 150 bidding locations, including 50 well-structured Automalls and nearly 70 strategic parking locations, across India. The company has been awarded ISO 9001:2008 certification for its Quality Management System and rated AA from CRISIL.

For more information, please contact:

SHRIRAM AUTOMALL INDIA LIMITED

202, Best Sky Tower,

F-5, Netaji Subhash Place,

Pitampura, Delhi-110034

Tel: 011-41414444

Fax: 011-42414444

E-Mail: contact@samil.in

Website: www.samil.in