The pre-owned vehicle exchange platform Shriram Automotive India Limited (SAMIL) has a turnover of more than ₹ 3,000 crore and transacted over 1.60 lakh pre-owned vehicles and equipment during FY15.
SAMIL is a part of Shriram Transport Finance Company Limited and MXC Solutions India Private Limited. Limited
“We are seeing a very strong improvement in demand for used vehicles and equipment, especially towards the end of Q4,” said Sameer Malhotra, Director and CEO, Samir Malhotra.
“More than 130 crores [worth of] The transaction was done on the same day. March has also been unprecedented and we have done more than ₹ 500 crores of transactions, which was very high.
Selling price rises
During FY 2011, the average selling price of a used vehicle has increased by 10% compared to the previous fiscal year, the company said in a statement. More than eight lakh pre-owned vehicles and equipment were tagged, including trucks, cars, two-wheelers, three wheelers, agricultural tractors and construction equipment from SAMIL’s customer.
Customers included banks, non-banking financial companies, insurance companies, original equipment manufacturers and their dealerships, vehicle aggregators, rental and leasing companies, transporters, contractors, dealers, and even individuals.
Over 2.26 lakh customers from over 400 cities registered on SAMIL or online platforms. About 80% of the business was generated in non-metro cities.
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