Shriram Transport rolls out Automall in city

Ludhiana, September 22, 2012: Shriram Transport Finance Company Limited, India’s largest asset financing company, on Friday launched Shriram Automall on Ferozepur Road in Ludhiana.

The Automall brings the country’s first single-window destination for trade of pre-owned trucks to the city. U.G. Revankar, Managing Director, Shriram Transport Finance Company Ltd, inaugurated Shriram Automall in Ludhiana today.

Spreading across two lakh square feet space, the facility is the first-of-its kind initiative, which allows the country’s large community of truck-owners to trade their vehicles in a hassle-free manner. Apart from trading of trucks, Automall facilitates the owners to seek financing and insurance options, as well as provides major and minor repair options. As an add-on facility, rest rooms for travel-fatigued truck drivers and cleaners are also provided. The company plans to have a PAN India network of 50 such Automalls strategically located on important highways of the country.

“Automall, the first of its kind concept in Ludhiana, will provide a major boost to truck-owners across India. Creating value for our truck community with utmost transparency is our aim.  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. This is the first Automall in Ludhiana and we hope that it brings progress and eases life of the truckers”, said U.G.Revankar, Managing Director, Shriram Transport Finance Company Ltd. on the launch.

Also speaking on the occasion Sameer Malhotra, Chief Executive Officer, Shriram Automall India Ltd, said.“ We have been spearheading the buying and selling of pre-owned vehicles and equipment. Through our Automalls, we have given the buyers and the sellers a unique platform where they can conduct transactions with absolute transparency. This is the first Automall in Ludhiana and we hope that it brings progress and ease in the life of the truckers”.

The Automall also houses Shriram One Stop, a computerised touch screen kiosk which is a virtual Truck Bazaar, providing real time information about used commercial vehicles available for sale. It will also simultaneously facilitate registration of individual buyer’s requirements. One Stop will bring more transparency in the process of buying and selling used commercial vehicles.

The Automall includes Shriram New Look, wherein refurbished pre-owned commercial vehicles are put on display for purchase along with inbuilt financing options. 

Shriram Transport Finance Company Limited is the flagship company of the Shriram group which has significant presence in Consumer Finance, Life Insurance, General Insurance, Stock Broking, and Distribution businesses. Incorporated in 1979, Shriram Transport is today the largest asset financing NBFC in the country and holistic finance provider for the commercial vehicle industry and seeks to partner small truck owners for every possible need related to their assets.

It has PAN India presence with 502 branch offices. Based in Mumbai, it manages assets worth Rs 40,307 crores and has a customer base exceeding 8,50,000. Shriram in the last 30 years, has helped replace nearly 20 lakhs trucks by providing affordable acquisition credit to the small truck operators.