New Delhi, 24th April 2018: Shriram Automall India Limited (SAMIL), India’s Largest Physical & Online Bidding Platform for transactions of pre-owned vehicles & equipment grew by 30% in FY 2017-18. SAMIL achieved this milestone by transacting over 1,20,000 pre-owned vehicles & equipment worth Rs. 2300 Cr. through its physical platforms, acquiring 100000+ unique bidders while assisting already existing 6,50,000+ bidders through its 75 well structured Automall facilities across India. After the partnership with CarTrade Exchange & Adroit, in the month of March 2018 the company transacted Rs. 354 Cr. worth of business through its physical & online platforms & grew 71% when compared to Feb 2018.
In FY 2017-18 CarTrade Exchange transacted 55,000+ pre-owned cars through its online bidding platform registering sales of over Rs.732+ Cr. Adroit which services sectors like public & private insurance companies, Banks & NBFCs conducted over 7,00,000+ Inspections and Valuations across the country in FY 2017-18.
Commenting on the achievement, Mr. Sameer Malhotra, Founder & CEO, Shriram Automall India Limited (SAMIL) said: ‘Shriram Automall has achieved record business in FY2017-18. Also CarTrade Exchange and Adroit posted very good growth and revenue which is clear sign of what future of pre-owned automotive market will be like. In FY 2018-19 we aim to double the transaction numbers and aim for 100% growth in our top line thereby achieving the business worth Rs.5,000 Cr. in the current fiscal.’
As a part of our vision & mission, Shriram Automall aims to become the OneStop Solution for every used vehicles and equipment demand in the country helping manufacturers, banks & NBFCs, leasing & insurance companies, individuals, transporters & others to acquire and dispose pre-owned vehicles & equipment in a structured process. Its time trusted bidding platforms, including Physical Bidding, Online Bidding, Private Treaty, MySAMIL Mobile App and OneStop Classified, will define high standards of comfort for its customers.
Going forward in FY2018-19 Shriram Automall aims to achieve 100% growth in its business. On the combined entity it aims to conduct transactions worth Rs. 5000 Cr., occupying a market share of over 50% in organized pre-owned automobile market. As a part of its expansion plan the company aims to inaugurate 10 new Automalls this year taking its reach to 85 locations across India.
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