Shriram Automall generates over ₹3,000-cr pre-owned vehicle biz in FY21

Shriram Automall India Ltd (SAMIL), a platform for pre-owned vehicles and equipment, said it generated business worth more than ₹3,000 crore and transacted over 1,60,000 pre-owned vehicles and equipment during 2020-21.

SAMIL conducted more than 4,000 physical events and over 25,000 online events across its various platforms during FY21 for selling and buying pre-owned vehicles and equipment, according to a statement.

SAMIL has been seeing very strong recovery trends in demand of used vehicles and equipment and price realisation is also getting better, especially towards the end of Q4.

Over 130 crore transactions were done in a single day during its 10th business anniversary celebration in February.

“We are delighted to get such an overwhelming response during the entire year despite such difficult market conditions. In March alone, we did over ₹500+ crore worth of transactions,” said Sameer Malhotra, Director and CEO, SAMIL.

The company said the average selling price of a used vehicle was higher by 10 per cent in FY21 compared to the previous fiscal.

Due to the pandemic and limitations on conducting physical events, the company facilitated transactions on advanced digital platforms like cartradeexchange.com, bids.samil.in and MySamil Mobile App.

About 80 per cent of the business was generated in non-metro cities, it said.

Over 8,00,000 pre-owned vehicles and equipment were tagged, including trucks, cars, two-wheelers, three-wheelers, agricultural tractors and construction equipment from SAMIL’s clientele spread across categories.

More than 2,26,000 people like vehicle aggregators, transporters, contractors, dealers and individuals from over 400 cities registered at their nearest Automall or on the online platform to get their desired vehicles & equipment. The company also conducted over 8 lakh inspections and valuations across segments through its subsidiary Adroit Auto.

“As a company we are growing both organically and inorganically,” said Malhotra.