Shriram Transport launches India’s first Automall

Shriram Transport Finance Company Ltd. (STFC) has just launched Shriram Automall in Chennai, the country’s first single- window destination for trade of pre-owned trucks. The Union Minister for Home Affairs, Mr. P. Chidambaram, inaugurated the facility at Pukkathurai village, 15 km south of Chengelpet.

Spread across a sprawling 2 lakh sq. feet space, the facility is the first of its kind initiative which will give access to the country’s large community of truck-owners to trade their vehicles in a hassle-free manner. At the Automall, apart from trucks trading, the truck owner will also be able to explore financing and insurance options, as also minor and major repair facilities. Rest rooms for travel fatigued truck drivers and cleaners are also provided as an add-on facility.

The overall plan is to have 50 such facilities strategically located on important highways of the country.

“Road transport today is the lifeline of the country’s growing economy. We are excited with the launch of our Automall which will benefit truckers in prompt replacement of their vehicles leading to modernization of the country’s trucking fleet. The facility will house hundreds of pre-owned vehicles both in as-is-where-is and refurbished condition, and truckers will be able to trade in a transparent manner,” said Mr. R. Sridhar, Managing Director of Shriram Transport Finance Company Ltd., on the occasion.The Automall will also house Shriram One Stop, a computerized touch screen kiosk which will be a virtual truck bazaar, providing real time information about used commercial vehicles available for sale and simultaneously facilitates registration of individual buyer’s requirements. One Stop will bring more transparency while buying and selling used commercial vehicles.

The Automall will also include Shriram New Look, wherein refurbished pre-owned commercial vehicles are put on display for buying with in-built financing options.

STFC is the flagship company of the Shriram Group which has significant presence in consumer finance, life insurance, general insurance, stock broking, and distribution business. Incorporated in 1979, Shriram Transport is today the largest asset financing NBFC in the country and a holistic finance provider for the commercial vehicle industry. It seeks to partner small truck owners for every possible need related to their assets.

With 487 branch offices all over the country, the company, based in Mumbai, manages assets of over Rs. 34,000 crores and has a customer base exceeding eight lakhs. In the last 30 years, it has helped replace nearly 20 lakh trucks by providing affordable acquisition credit to small truck operators.