Chennai: Shriram Automall India Limited (SAMIL), India’s largest physical and online platform for exchange of used vehicles and equipment, transacted over Rs. 10,000 crore across its 73 Automall platforms. The company achieved this feat by conducting around 5.8 lakh transactions and serving over 6.8 lakh customers.
On the occasion of its 7 years celebration, SAMIL conducted 70+ bidding events across the country making it the first ever company to organize such a large scale event in a single day. The company displayed over 10,000 vehicles & equipment valuing over Rs.150 crore for disposal, which is a new company record for a single day business transaction. The event was attended by over 8000 people from tier 1, 2 and 3 cities who found their desired pre-owned vehicle at the Automall. SAMIL also introduced its updated MySAMIL mobile application with SAMIL E-Wallet feature which will help the customers to store their money online and transact for any vehicle or equipment at SAMIL in a hassle free manner.
In 2017-18, Shriram Automall witnessed robust growth of 30% in its revenues. The strong business performance was backed by a record 8,300+ physical/online bidding events disposing 1,30,000+ used vehicles & equipments with transaction value of Rs. 2,000+ crore.
On the occasion, Sameer Malhotra, CEO, Shriram Automall, said, “It’s been 7 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.”
He further added, “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.
“The way Shriram Automall has changed pre-owned automotive industry is exemplar for others. We have always believed that this idea was bound for success. Today SAMIL is setting many new records & benchmarks. The industry and its veterans are recognizing our efforts and have happily accepted our convenient & transparent concept for transactions of pre-owned vehicles & equipment. Yet there is a long way to go as there are many dreams that are yet to be fulfilled. Together with CarTrade.com we will reach maximum people, transform their lives and tap in new, unreached areas to provide our professional services and platforms to everyone.” Umesh Revankar, MD, Shriram Transport Finance Company (STFC).
Speaking on the event Vinay Sanghi, Founder and CEO, CarTrade said “I knew that Shriram Automall is the pioneer when it comes to conducting physical auctions. Today I am happily surprised to witness such a large scale event organized in a hassle free manner where thousands of people came and bought their preferred used vehicles & equipment. Moving forward, together we will create an organization that will bring more value to our combined customers through our physical and online platforms.”
Going forward in FY 2018-19 the combined entity (Shriram Automall and CarTrade Exchange) will offer new and innovative technological enhancements to its customers for bidding online and inspection facility which SAMIL will offer through its 100% subsidiary Addroit Inspection Services Pvt. Ltd. The combine entity will hold over 70% market share and expect to conduct transactions worth over Rs. 4000 Crs next year serving a combined customer base of over 20 million which will make it the largest marketplace for exchange of pre-owned vehicles and equipment.
Shriram Automall since its institution in 2011 has attained remarkable heights and following table elaborates that.