Distribution & Retail

SAMIL Utsav sees 7,900+ pre-owned vehicles auctioned in single day

Posted on Author Motorindia Comments(309)

Over 14,500 vehicles and other assets were displayed for the auctions with over 30,000 customer footfalls registering from over 100 cities

Sameer Malhotra, Director and CEO, SAMIL

Shriram Automall India Limited (SAMIL), India’s leading marketplace for pre-owned vehicles and other assets, has created a new benchmark in the pre-owned automobile industry with the ‘SAMIL Utsav’ event. The 11th edition of the single-day auction event witnessed the listing of over 14,500 pre-owned vehicles and other assets for auctions resulting in transactions worth Rs 215 crore. SAMIL Utsav is a one-of-its-kind phygital format auction that is celebrated each year on the business anniversary of SAMIL on February 26 by conducting 100+ auctions in 100 cities across India.

The Shriram Automall Group consists of SAMIL a leading phygital auction platform; Car Trade Exchange, a leading online auction platform; and Adroit Auto, a service provider for inspection and valuation. The SAMIL Utsav remains the biggest auction of the year of its kind. The company provided once in a lifetime experience to both buyers and sellers where it recorded footfalls of over 30,000 customers who came from over 100 Tier I, II, and III cities across India. Over 14,500 pre-owned vehicles and other assets across segments like cars, trucks, construction equipment, farm equipment, two-wheelers and three-wheelers from a full spectrum of sellers across consumers, banks, NBFCs, insurance companies, OEMs and dealers, leasing, rental and aggregator companies, brokers, transporters and contractors were displayed and ramped.

Thus, the company provided power of choice to its customers to buy their preferred vehicles and equipment from a huge range of inventories. Sameer Malhotra, Director and CEO, SAMIL, said, “We have created history in the pre-owned automobile industry by conducting over 100 auctions to sell over 7,900 units of vehicles and other assets processing transactions worth Rs 215+ crore in a single day, where over 30,000 customers from 100 cities came to participate in the SAMIL Utsav. The grand success of SAMIL Utsav illustrates the huge demand in the pre-owned automobile industry where price realisations are also getting better.”

“At Shriram Automall, we leave no stone unturned to grow significantly year on year. Being a frontrunner in this industry, we are geared for this generation of technology-driven audiences and hence launched the live streaming of auctions on MySAMIL app, setting a new benchmark of our technological and innovation prowess. This new phygital aspect of the auction will give potential buyers full insight on the vehicles before bidding,” he added.

On the occasion of the 11th SAMIL Utsav, SAMIL launched a one-of-its-kind live streaming feature on MySAMIL app through which registered customers can watch the vehicles of their choice in real-time at any ongoing auction across 100+ auto malls in India. The live streaming of auctions aids potential buyers to watch the vehicles running and get an immersive experience of auction participation without any lag whatsoever.

This new phygital auction platform is underlined by state-of-the-art infrastructure bringing real-time physical auction experience to mobile devices from anywhere in India. The live streaming of auctions will change the way people are bidding for pre-owned vehicles in India and is truly innovative in the industry. The company provided phygital solutions (physical plus digital) integrating with new-edge technologies like desktop live bidding and MySamil app with an aim to create all-inclusive mobility solutions for buyers and sellers.

The company also conducted over 100 online auctions through state-of-the-art auction portals like cartradeexchange.com and bids.samil.in to empower customers to bid on their preferred vehicles from anywhere in India. Shriram Automall also inaugurated another state-of-the-art facility in Noida, Uttar Pradesh on February 26, 2022 as part of its strategic expansion plan and intends to launch more in CY 2022. Backed by Car Trade Tech Limited and Shriram Transport Finance Company Limited, SAMIL has over 1,500 employees and more than 100 auto malls across India.

Motorindia
https://aftermarketandservice.in/

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