Shriram Automall India (SAMIL) grew by 30 per cent in FY 2017-18. SAMIL achieved this milestone by transacting over 1,20,000 pre-owned vehicles and equipment worth Rs 2,300 cr through its physical platforms, acquiring over 100,000 unique bidders while assisting already existing over 6,50,000 bidders through its 75 well structured automall facilities across India. After the partnership with CarTrade Exchange & Adroit, in March 2018, the company transacted Rs 354 crore worth of business through its physical and online platforms and grew 71 per cent when compared to February 2018.
In FY 2017-18 CarTrade Exchange transacted more than 55,000 pre-owned cars through its online bidding platform registering sales of over Rs 732 crore Adroit which services sectors like public and private insurance companies, banks and NBFCs conducted over 7,00,000 inspections and valuations across the country in FY 2017-18.
Commenting on the achievement, Sameer Malhotra, Founder & CEO, Shriram Automall India (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 per cent growth in our top line thereby achieving the business worth Rs 5,000 crore in the current fiscal.”
Going forward in FY2018-19, Shriram Automall aims to achieve 100 per cent growth in its business. On the combined entity it aims to conduct transactions worth Rs 5,000 crore, occupying a market share of over 50 per cent in organised 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.