The Automall was inaugurated by Mr. Umesh G. Revankar, Managing Director – Shriram Transport Finance Company Limited (STFC). The Guest of Honour for the event was Mr. Akhilesh Kumar Singh (CEO, Shriram Insight Share Brokers Limited) and the Special Guest gracing the occasion was Mr. M.I.Abassi (CEO, North, East, and Central, Shriram Transport Finance Company Limited.
“We believe used vehicle traders have the same aspirations as those who deal with the new articles. The used vehicle industry often focuses only on the transactions and not on the total experience of ownership. With this new Automall, we are optimistic about changing this perception and creating a unique, moving experience for the certified used vehicle consumer, right from the point of entry till final exit from our Automalls. Our expanding network makes us well positioned to tap the potential of market in this region,” said Mr. Malhotra
Shriram Automall is the country’s preferred certified used vehicle mart and is India’s only organized multi-brand player, with over 16 Automalls and over 100 yards across India. The company plans to expand this number exponentially in the coming year. SAMIL caters to the market of used commercial and passenger vehicles, industrial equipments and agricultural implements through platforms like physical and online bidding.
The Kolkata Automall inauguration also saw the launch of a recently launched hi-tech service, One-stop intranet kiosk which is an automated classified comprising of an exhaustive inventory of all the automobiles available with us for customer awareness.
SAMIL also has retail finance relationships with major banks and NBFCs in the country. It is also envisaging coming up with a hoard of value added services like tyre loan, engine finance, credit card facility, etc., to add to its portfolio.
About Shriram Transport Finance Company Limited (STFC):
Shriram Transport Finance Company Limited is the flagship company of the Shriram group which has significant presence in Consumer Finance, Life Insurance, General Insurance, Stock Broking, and Distribution businesses. Incorporated in 1979, Shriram Transport is today the largest asset financing NBFC in the country and holistic finance provider for the commercial vehicle industry and seeks to partner small truck owners for every possible need related to their assets. It has PAN India presence with 502 branch offices. Based in Mumbai, it manages assets worth Rs 40,307 crores and has a customer base exceeding 8,50,000. Shriram in the last 30 years has helped replace nearly 20 lakhs trucks by providing affordable acquisition credit to the small truck operators.
About Shriram Automall India Limited (SAMIL):
Shriram Automall India Limited (SAMIL), one-of-its-kind facility is a wholly owned subsidiary of Shriram Transport Finance Company. It is India's first ever service provider that offers a transaction platform for the trading of pre-owned commercial vehicles, construction and agricultural equipments in an organized and transparent manner. This initiative was started in February 2011 and in its second year of operations; the company has launched its full-fledged facilities in 10 key locations across India. The Automall offers a common meeting platform for potential buyers and sellers where the valuation of the vehicle is determined through a transparent public auction process. In addition, Shriram Automall also promotes two new initiatives: