Honda Motorcycle & Scooter India has joined hands with Shriram Automall India Limited (SAMIL), a one-of-its kind wholly owned subsidiary of Shriram Transport Finance Company (STFC) to cater to the pre-owned 2-wheeler segment. Honda had earlier initiated the concept of Certified Pre-owned Outlets under the brand name of ‘Best Deal’ to serve the organized pre owned 2wheeler market. Within a span of 2 years more than 60 Best Deal outlets are now operating in 11 different states of India. Honda claims that the new tie-up would offer a reliable solution for transactions of pre-owned 2 wheelers.
Honda outlets will act as one point contact for customers. The existing Best Deal shall be able to exchange the Old Honda vehicle and deliver that to a Used Vehicle Buyer with refurbishment and certification. At the same time, the tie-up with Shriram Auto Mall will bring in a unique pre-position for Non-Honda vehicles replaced against New Honda Vehicle. Bidding process for such used Non-Honda vehicles will be conducted by Shriram Auto Mall with proper documentation & at Fair Pricing.
Speaking about this tie-up, Y.S. Guleria, Vice President, Sales and Marketing, HMSI, said, “We are proud that Honda has been at the forefront of ushering in this landmark initiative that would endow benefits like trust and assurance of transparent dealing for all stakeholders. Currently the contribution of pre-owned two-wheeler market is estimated to be 15% of overall sales, but the potential is immense. At present, the industry lacks an organised and reliable structure. Through this tie-up we aim to bridge this gap.”
Sameer Malhotra, CEO of SAMIL, added, “We are delighted to announce our exclusive tie-up with Honda to create an organized market for pre-owned 2 wheelers. With our successful pilot, we are optimistic about the fast growth within very first year of this tie up. Customer convenience, hassle-free transactions, on ground events for physical bidding apart from Online Bidding, Private Treaty and One Stop Classified Kiosks will surely create a huge pull.”