Shriram Automall India on Tuesday said it generated business worth over Rs 3,000 core and conducted transactions for over 1.60 lakh pre-owned vehicles and equipment through both online and offline modes in the previous fiscal year.
Mumbai:
During the period, it conducted over 4,000 physical and over 25,000 online events across its various platforms for selling and buying pre-owned vehicles and equipment, Shiram Automall India Ltd(SAMIL) said in a release.
As much as 80 per cent of the business was generated in non-metro cities, it said adding that the average selling price of a used vehicle lot spiked 10 per cent in 2020-21 compared to the previous year.
Considering the market condition due to the pandemic, the company has shown an impressive performance, it said.
Understanding the situation, the company devised ways and means to cater to its customers’’ needs by using various technologically advanced and digital platforms, said the release.
The company also said over 8,00,000 pre-owned vehicles and equipment were tagged from SAMIL’’s clientele like banks, NBFCs, insurance companies and OEMs, among others.
“We are delighted to get such an overwhelming response during the entire year despite such difficult market conditions,” said Sameer Malhotra, Director and CEO, SAMIL.
The platform has been seeing very strong recovery trends in demand of used vehicles and equipment and price realisation is getting better, he added.
“Even March has been phenomenal and we did over Rs 500 crore worth of transactions,” Malhotra said.
The company also conducted over 8,00,000 inspections and valuations across segments through its 100 per cent subsidiary Adroit Auto, it said.
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