Chip crunch driving used-vehicle sales, Shriram Automall revenues up 52%

Firm says pre-Covid level of sales achieved and that pre-owned vehicles are no longer a second choice

Automakers, carmakers, cars
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During FY22, the company logged business worth Rs 5,800 crore through 237,667 transactions (Photo: Reuters)

BS Reporter Chennai
Pre-owned vehicle exchange platform Shriram Automall India (Samil) has said that India’s used car sales have touched the pre-Covid level and that supply constraints such as the chronic shortage of semiconductors--a key input in new vehicles--are helping the market. From April to August this financial year, the company saw a 52 per cent increase in revenue to Rs 1,304 crore through transactions of 78,482 vehicles.

During the same period in 2021-22, Samil generated business worth Rs 859 crore and transacted 50,748 vehicles. “Pre-owned vehicles are no longer a second choice. Our numbers are equal to the new vehicle market. We

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First Published: Sep 18 2022 | 4:45 PM IST

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