SAMIL generates Rs 130 cr by selling vehicles, equipment in bidding event

Over 5,600 vehicles and equipment were sold during a day-long physical bidding event titled 'Utsav'

Shriram Group & MXC Solutions-backed Shriram Automall India Limited (SAMIL), a leading platform for pre-owned vehicles & equipment, generated business worth more than Rs 130 crore and sold over 5,600 vehicles and equipment during a day long physical bidding event titled ‘Utsav’ at 100 locations across the country .

SAMIL’s 100 auctions held at 100 locations saw over 11,400 inventories tagged, including trucks, cars, two wheelers, three wheelers, agricultural tractor and construction equipment from SAMIL’s clientele including banks, non-banking financial companies (NBFCs), insurance companies, original equipment manufacturers (OEMs) & their dealerships, vehicle aggregators, rental and leasing companies, transporters, contractors, dealers and even individuals.

Sameer Malhotra, director and CEO, SAMIL said, "History has been created by conducting over 100 physical bidding auctions in 100 cities across India in a single day where over 20,000 people from across the country came to participate in the SAMIL Utsav and over Rs 130 crore worth of transactions were done.”

He added that very strong recovery was being seen in the demand for used vehicles and equipment, and price realisations were getting better

"The success of the 10th SAMIL Utsav is a true example of that. While the whole nation has gone through tough times, Shriram Automall has always outshined competition. As a company we are growing both organically and inorganically,” he said.

The company said that over 20,000 customers including vehicle aggregators, transporters, contractors, dealers and individuals from over 400 cities visited their nearest Automall to get their desired vehicles and equipment, making SAMIL Utsav, a grand and historic event for SAMIL.

SAMIL also conducted online bidding events through its digital platforms.