Shriram Automall India Ltd (SAMIL), a wholly-owned subsidiary of Shriram Transport Finance Company, is set to add eight outlets this financial year. This will increase the pre-owned vehicle seller’s total outlets to 60 by March 2016.
“With the overall slowdown, people are not keen on investing in new vehicles, which is why there is growth happening in the used-vehicle segment. Over the last couple of years, we have grown by 20-30 per cent year-on-year,” said Sameer Malhotra, Chief Executive Officer of SAMIL.
The company gets about 50 per cent of its total revenue from used commercial vehicle sales, followed by the passenger car segment (20 per cent).
The remaining comes from vehicle demands of the construction sector, agriculture, and two- and three-wheelers (10 per cent), Malhotra added.
At present, SAMIL has 52 Automall facilities in the country, with 21 in southern India, 19 in the northern region, six in the east and the remaining six across western India.
The new outlets will come across Nagpur, Ratnagiri, Pune, Agra, Coimbatore and Mangalore. With about 50 per cent market share in the used-car segment, SAMIL is the largest organised pre-owned car dealer in the country with revenues of ₹70.41 crore (FY15).