Shriram Transport rolls out country’s first Automall

Chennai, February 26, 2011: Shriram Transport Finance Company Limited, India’s largest asset financing company, today, launched Shriram Automall in Chennai, the country’s first single- window destination for trade of pre-owned trucks. Hon. Union Minister for Home Affairs Mr. P.Chidambaram, who graced the occasion, inaugurated Shriram Automall in Pukkathurai village (on GST Road, 15 kms south of Chengelpet) today.

The facility spread across a sprawling 2 lac sq. feet space, is the first-of-its kind initiative which will give access to the country’s large community of truck-owners to trade their vehicles in a hassle-free manner. At the Automall, apart from trading of the truck, the truck-owner will also be able to explore financing and insurance options as also minor and major repair facilities. Rest rooms for travel fatigued truck drivers and cleaners are also provided as an add-on facility. The overall plan is to have 50 such facilities strategically located on important highways of country covering a PAN India population of Commercial Vehicle highway users.

“Road transport today is the lifeline of the country's growing economy. We are excited with the launch of our Automall which will benefit truckers in prompt replacement of their vehicles leading to modernization of country’s trucking fleet. . 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,” said R Sridhar, Managing Director of Shriram Transport Finance Company Ltd. on the occasion.

The Automall will also house Shriram One Stop, a computerized touch screen kiosk which will be a virtual Truck Bazaar, providing real time information about used commercial vehicles available for sale and simultaneously facilitates registration of individual buyer’s requirements. One Stop will bring more transparency while buying and selling used commercial vehicles.

The Automall will include Shriram New Look, wherein refurbished pre owned commercial vehicles are put on display for buying with inbuilt financing options.

About Shriram Transport Finance Company Ltd.

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 487 branch offices. Based in Mumbai, it manages assets over Rs 34,000 crores and has a customer base exceeding 8,00,000. Shriram in the last 30 years, has helped replace nearly 20 lakhs trucks by providing affordable acquisition credit to the small truck operators.

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This release was published on openPR.