Indian Automotive Industry is like a "rising sun" and is one of the world's fastest growing markets for manufacturers. Be it passenger cars, two wheelers or commercial vehicles, India is a key market. The country is seen as export hub for SUVs. Not only this, but also India has witnessed rapid growth in farm equipment. As agriculture upholds the Nation's growth, increasing demand for farm vehicles is inevitable.
STFC - the leader in Commercial Vehicle Finance
The key drivers of any industry are the common people, which form the base of the pyramid. Similarly, for transport Industry contractors, transporters, drivers and Farmers toil day and night to make a difference in every aspect.
In a unique endeavor, India's largest player in commercial vehicle finance, Shriram Transport Finance Company Limited (STFC) devised a transparent and customer centric platform for transaction of used commercial vehicles & agricultural equipment. Identifying an opportunity and leveraging on its experience the segment for decades, Shriram Group has launched the concept of Shriram Automall India Limited (SAMIL) which happens to be the country's only organised player today.
On February 26, 2011, Shriram Automall incepted its 1st Automall in Chennai, which was inaugurated by then Honorable Union Minister for Home Affairs Mr. P. Chidambaram. The enterprise since then has been a source of prosperity to numerous contractors, fleet owners and farmers who explored the benefits of pre-owned vehicles & equipment with Shriram Automall. The company today boasts of full-fledged Automall facilities in 24 key locations across India.
Mr. P. Chidambaram at the Chennai Automall Inauguration
Going by the industry's observations, Indian infrastructure industry has the biggest potential for growth and opportunities for investment. Based on the sizeable growth potential, SAMIL anticipated a positive growth trend in transport & equipment purchase. Acting on the expectation, SAMIL built the vigorous network of Automalls across the Indian map. The growth of the company in terms of the geographical expansion is exponential in nature and envisions establishing 60 such strategically located Automalls by the end of the fiscal year.
The Grand Shriram Automall at Hyderabad, Andhra Pradesh
Mr. Sameer Malhotra, CEO, SAMIL
SAMIL Online Bidding Platform
By moving to a more customer-centric layout, the revamped website, now allows visitors to access information based on their own requirement rather than go through the entire website to decide what is of interest to them.
Automall's unique concept caters its customers with different platforms like:
Physical Bidding events offer the likelihood to inspect a vehicle in person. It is possible to touch and feel a vehicle before selection. Prospective bidder can actually inspect the actual condition of vehicle to ones' satisfaction. Traders are finding this opportunity useful to network with each other; and exchange valuable market trends. SAMIL organizes approximately 100 physical bidding events every month. These events are well organized by skilled workforce and team manages to bring unforgettable experience to each user. It also ensures complete transparency to each of its customer.
Prospective bidders at Physical Bidding Event
One Stop Kiosk in Operation
Apart from organizing planned Bidding events, for consigners and bidders who are looking for much personalised service, SAMIL has setup a Private Treaty platform. On this platform, Individuals offering highest quotes are invited to discuss and negotiate to maximize value realization. With this, SAMIL opened its gateway to international transactions and bought global buyers and sellers on this unique platform.
Along with all the above mentioned platforms, SAMIL has created Newlook. As in name itself, the platform is set to give a new look to used vehicles. Vehicles are inspected and re-furbished or re-conditioned according to the need and are made easily saleable. To provide real market value of equipment, Automall has Valuation Service, where a team of expert professionals does an asset valuation and helps a financer to determine the right worth of an asset before approving a loan. Adding to wide array of services SAMIL also offers allied services like parking, easy finance options, general insurance, life insurance and assistance in documentation to ensure smooth transition.
|Newlook – Refurbishment & Valuation Services||Bidders participating at the physical events|
Thus the concept is all about complete fleet management and to create a transparent platform for buyers and consigners. So now, Fleet owners, contractors and farmers who face acute problems in terms of sourcing commercial vehicle, construction equipment and agricultural implements can breathe a sigh of relief. Shriram Automall's initiative both online & offline are a step in the direction to end the unreliable practices prevalent in pre-owned vehicle transactions by cultivating organized vehicle-trading mechanism.
Moving on SAMIL is also looking at venturing into passenger vehicle segment to capture the untapped, which so far is being controlled by local dealers across the nation. As company sees huge volume from this segment, they plan to offer this service through all its platforms namely physical bidding, online bidding, one stop and private treaty. Hence, It would not be wrong to say that SAMIL does not want to leave even a single option unfold which adds value to their concept.