STFC plans 50 Automalls

Shriram Transport Finance Company Ltd, the asset financing non-banking finance company under of Shriram group, has announced its plan to set up 50 single-window centres branded Automall to offer easy trade of pre-owned trucks. The company on Sunday announced launch of the centre with the first opened at Panvel, near Mumbai.

Plans are to set up 50 such facilities strategically located on important highways of country. It would offer finance, insurance and major and minor repair services to truck owners. However, the financial details for the plans are not revealed.

"Automall will benefit truckers in promptly replacing their vehicles, leading to modernization of the countrys trucking fleet. This is the first Automall in Maharashtra and we hope that it brings progress and ease in the life of the truckers," said U G Revankar, deputy managing director, Shriram Transport Finance Company Ltd.

The Automall would house Shriram One Stop, a computerized touch screen kiosk designed as a virtual Truck Bazaar providing real time information about used commercial vehicles available for sale and facilitating registration of individual buyers requirements. The single window shops would also offer refurbished pre owned commercial vehicles with inbuilt financing options.