Despite the mammoth usage of equipment and commercial vehicles in India, the market is highly unorganised. People are not aware of the global fleet management practices. In such a scenario, the Shriram Group realized that, considering its expertise in this segment, it’s imperative that a structured approach is initiated. This probably prompted Shriram Transport Finance Company (STFC) to diversify and become an auctioneer for industrial equipment. It thus launched another venture, Shriram Automall India Ltd. (SAMIL). The idea was to create a transparent platform where fair practices are adopted, and the result is more than heartening.
SAMIL which started its operations in 2011 has pioneered the concept of Automall, which is a platform for buying and selling pre-owned industrial equipment through organised and transparent auctions.
Headquartered in Delhi, SAMIL has launched full-fledged Automalls at locations like Chennai, Baroda, Mumbai, Manesar, Aurangabad, Pathankot and Cuttack. All these Automalls are strategically located on important highways and spread over 3-5 acres. With secure stockyards, convenient parking facilities and full-fledged service stations to refurbish old vehicles, they also offer finance and insurance facilities to their customers.
The customers can not only take a look at a wide array of equipment and vehicles but also test, inspect and bid for the same. The customer with the highest bid takes away the vehicle.
Besides Automalls, the company is also running more than 100 vehicle and equipment yards spread across 60 cities in the country.
“We have been spearheading the buying and selling of pre-owned vehicles and equipment. Through our Automalls, we have given the buyers and the sellers a unique platform where they can conduct transactions with absolute transparency. Our customers not only take a look at the wide array of equipment and vehicles but also test, inspect and bid for the same. We are now planning to expand our market strength and volumes and launch two Automalls, one each in Cuttack and Pathankot, this March. By the end of this year we envisage 60 Automalls across the nation”, said the SAMIL CEO, Mr. Sameer Malhotra.
The present product range in the auctions covers four categories: Commercial, Transport, Construction and Agri. It is expected that the Auto category will also be added to the product range soon. The customer base encompasses vehicles and equipment manufacturers, dealers, banks, finance companies and end users.
More than 100 auctions are conducted in a month pan India. Additionally the online facility offered by SAMIL is one of the most unique mediums to connect with the buyer. Although a lot of consumers do not hesitate to travel long distances to attend the auctions at Shriram Automalls, those bidders who can’t make it to the auction site can easily participate through their online portal www.samil.in/bids. Through the online facility, a bidder can actively participate in the auctions without much fuss. The online tools are very user-friendly and enable a customer to take informed buying or selling decisions.
Another facility offered in Shriram Automall is the Shriram one-stop, a computerized touch screen kiosk, which is akin to a virtual vehicle bazaar. It provides real time information about all the vehicles available for sale, which is called Intranet selling.
Besides, SAMIL’s refurbishment unit – New Look – offers the facility of refurbishing vehicles and selling the same. New Look service stations are present in almost all the yards and the services offered by them have benefited the community in an exotic manner.
The total monthly transactions with all these different modes are approximately 10,000 machines/vehicles.
Said Mr. Sameer Malhotra, CEO, Shriram Automall India Ltd.: “Although, educating the public is really a challenge as this concept is new to the Indian market, we feel that it’s absolutely essential that buyers and sellers of vehicles and equipment are made aware of a platform that takes care of all their needs. We have pioneered this concept, and there is no other company in the country with such holistic auction solutions. I can proudly say that we were the first ones to take cognizance of the needs of buyers and sellers. In fact, we came to the customer rather than the customer coming to us. To be honest, Shriram Automall has no competition whatsoever”.