Shriram Automall India Limited (SAMIL), stemming out of India's largest NBFC in commercial vehicle finance - Shriram Transport Finance Company (STFC), in the year 2011; has succeeded in redefining the business of preowned vehicles and equipment in the Indian market. While this segment has always been considered as an unorganized one, SAMIL could gauge the challenges and opportunities well.
The sole prerogative of SAMIL is to establish a strong foothold in all major cities and towns of India. Systematically launching new Automalls in strategic locations has contributed to its voluminous
expansion in terms of overall business across India. Keeping pace with the growing demands of transport industry, SAMIL provides consolidated service to the owners and buyers of used commercial vehicles, construction and farming equipment, passenger cars, three wheelers and bikes.
Reaching Out To the Remotest Corners
The platform helps a buyer to see the vehicle, comprehend the running condition of its engine and accordingly judge the feasibility of buying the same. Taking the advantage of the opportunity of participating in a physical bidding platform, the traders may also involve into exchanging market trends and strategies among themselves. Online Bidding helps is reaching out to the remotest of
prospective customers present in various nook and corner of the country.
Ever since its establishment, SAMIL has inaugurated new Automalls in 26 locations across India and intends to expand its reach by launching 60 such new Automalls pan India. Maintaining a coherent business relationship with the existing customers, the Automall constantly strives to increase its clientele base manifolds. With establishments that are already operational and those yet to be launched, the spread of Shriram Automall will certainly aid Indian automotive market towards a massive expansion in future. Innovative, practical business concepts implemented with high operational integrities have been the core driving strategies for thriving in a competitive market scenario. SAMIL's bidding or other transaction modes bring in the desired scalability and promises longterm efficient growth opportunities. Shriram Automall continues to venture new avenues of business, thereby expanding the scope of operations.
Gifting Exclusive Benefits On The Way While above platforms ensure transparent and efficient business transactions, other allied services like Valuation, Documentation, Parking, Refurbishing, Re- finance, Insurance and Vehicle maintenance etc. all are facilitated through a separate dedicated unit. At the Automalls apart from trading, the asset owners can also explore financing and insurance
options, as also minor and major reairs while the fatigued truck drivers can avail the rest room
facilities as well. Set to function as a centre for refurbishment, Shriram Automall provides services in changing tyres, repainting, changing the windshield or the window glasses. Though the grave
technological revamps like fixing a new multiplexing system, engine replacement, renovating cabins etc. are not yet undertaken, minor repairs are reasonably handled to get the vehicles back to the score. At present the repair service primarily focuses upon the day-to-day requirements and implications but certainly aims at offering way more in future, depending on the demands.
Valuation: Used vehicle equipment market has been an unorganized segment. As a natural consequence there has been irrelevant valuation system and manipulations in the matrices used to fix rates. SAMIL, in an ardent effort to fix this state of affair, comes up with some of the most efficient and reliable experts to standardize the concerned parameters. The valuation is done on the basis of the validity of the documents held by the vehicle owner, the current market rate of the vehicle of the same brand and model, the special application of the vehicle (if any), the cost of the technology that goes with it and the Sameer Malhotra, CEO,Shriram Automall India Limited, SAMIL Online Bidding Platform as per customer's convenience.
past on-road and field performance record of the vehicle. Hence,valuation helps greatly in the price escalation of the vehicles.Parking Facility: Safe and secured parking facility is provided to the clients for parking their valuable assets on a daily/ weekly/ monthly rental basis. This service has been observed to have been widely used by Banks, NBFCs, Large Dealers, fleet operators and
individuals who wish to park & dispose their assets.Transparent Platform: In the quest of delivering significant benefits through its bidding platforms, SAMIL ensures near certainty of sale,fairness in deals and complete transparency in business transactions.While it is imperative that a buyer would most certainly inspect a used vehicle or equipment physically before buying, the Physical Bidding platform offers the most viable option to serve the concerns of such customers. Interested users are trained online and over telephonic conversation prior to participation in the bidding platforms.
Non-net savvy users can also participate in the event by using the proxy bidding option. SAMIL also facilitates Private Treaties or negotiated deals between owners of high value or bulk assets and
prospective customers with utmost professionalism and transparency. It can rightly be compared to tenders wherein individuals offering highest quotes, can negotiate on a mutually acceptable price directly with the sellers. SAMIL also offers a unique intranet based classified kiosk - Shriram One Stop, a yet another augmented platform that provides real-time information about preowned commercial and passenger vehicles available for sale and simultaneously facilitates registration of individual buyer's requirements. This is a smart initiative to preach a transparent business environment in terms of buying and selling of vehicles. This platform also helps the individual and fleet operators to interact and strike deals.
New Look Services (Refurbishment): A plethora of services are counted under New Look - a floor where refurbished pre-owned commercial vehicles are put on display for buying with in-built financing options. Finance: Users can avail the facility of easy finance to expedite the deal through Shriram Transport Finance Company (STFC)-one of the largest asset financing NBFCs in India with a niche presence in the financing pre-owned trucks and Small Truck Owners (STOs). STFC offers very low EMIs that help the borrower to widen the choice of vehicle since the validity increases with ready finance option. Insurance: SAMIL also offers exclusive insurance plans to make certain the bidders are sheltered against the financial implications of equipment damage or loss. The service offers coverage against damage or loss to vehicles / assets selected through physical /online bidding events. Other types of insurance options like - life insurance, on-site property insurance, cargo insurance, etc are also made available.