Shriram Automall India Ltd (SAMIL), a one-stop destination for pre-owned vehicles and equipment, has joined hands with State Bank of Hyderabad (SBH) for vehicle finance.
With this association, SAMIL plans to extend the benefits of its holistic solutions in the disposal of all types of pre-owned vehicles and equipment. The services will be applicable across all branches, pan India.
Sameer Malhotra, CEO of Shriram Automall, in a statement said “SAMIL’s unique disposal solutions for pre-owned vehicles and equipment are well accepted by the banking sector. We are going to make an optimum utilisation of our different bidding platforms and facilitate value-for-money transactions to the bank.”
The agreement was signed at the bank’s head office in Hyderabad. According to the agreement, SAMIL will strategically dedicate its multiple bidding platforms, including physical bidding, online bidding, and one-stop classified kiosk and private treaty, towards the disposal of all types of pre-owned vehicles and equipment of the bank.
Under physical bidding, the bank will benefit from the company’s extensive pan-India reach through over 150 bidding locations, including more than 50 well-structured automalls. Regular physical and online bidding events have been promised for the bank’s inventory. Online bidding events will ensure utmost customer convenience and make way for better opportunities in product disposal.
“We are eyeing at getting maximum value on our pre-owned vehicles and equipment. With SAMIL’s expertise in the pre-owned space of automobile industry, we are confident of generating huge revenue from our inventory” G Rajendra Kumar, General Manager of SBH, said.