Shriram Transport Finance Company Limited (STFC), India’s largest asset financing company, today aunched ‘Shriram Automall’, the country’s biggest Automall in Hyderabad. This recent addition of Automall is the 11th in India; the company has already set up 10 Automalls across key locations in the country.
Spread across 15 acres of land, Shriram Automall is the first-of-its kind initiative for the trading of pre-owned commercial vehicles, infrastructure and agricultural equipment in an organised and transparent manner. Mr. Vinod Dasari, Managing Director, Ashok Leyland, inaugurated the Automall in Hyderabad today.
The company plans to expand its PAN India network to 60 key cities by 2013. Such Automalls, equipped with secured stockyards, will be strategically located on important highways of the country, spreading across up to 20 acres of land.
“Our objective is to bring greater transparency and value-added services to Commercial Vehicles & Equipment trading Industry in India. The facility will house hundreds of pre-owned commercial vehicles both in as-is-where-is and refurbished condition.” said Mr. Umesh .G. Revankar, Managing Director, Shriram Transport Finance Company Limited, at the launch.
Announcing the launch of the Automall, Mr. Sameer Malhotra, Chief Executive Officer, Shriram Automall India Limited, said, “Through our Automalls, we have given the buyers and the sellers a unique platform where they can conduct transactions in a hassle-free manner.”
The Automall in Hyderabad also houses two new initiatives that provide value-added services to vehicle owners such as ‘Shriram One Stop’ and ‘Shriram New Look’. ‘Shriram One Stop’ is a computerised touch screen kiosk which is a virtual Truck Bazaar, providing real time information about used commercial vehicles available for sale, while ‘Shriram New Look’ offers a platform for transaction of authentic vehicles. Old trucks from the market are refurbished and sold under this brand name.