The Indian marketplace for pre-owned vehicles and other assets, Shriram Automall India, announced that it sold 7,900 pre-owned vehicles and other assets out of the 14,500 listed resulting in transactions worth INR 215 crore during the ‘SAMIL Utsav’ event.
The single-day auction event is a phygital format auction celebrated each year on the business anniversary of the company on February 26 by conducting 100+ auctions in 100 cities across India.
The pre-owned vehicles listed during the event included cars, trucks, construction equipment, farm equipment, two-wheelers, and three-wheelers from a full spectrum of sellers across consumers, banks, NBFCs, insurance companies, OEMs & dealers, leasing, rental companies & aggregators, brokers, transporters and contractors, and were displayed and ramped, a release from the company stated.
In addition, it also launched a live streaming feature during the event on the MySAMIL App, through which registered customers can watch the vehicles of their choice in real-time at any ongoing auction across 100+ automalls in India.
Sameer Malhotra, Director & CEO, SAMIL, said, “The grand success of SAMIL Utsav illustrates the huge demand in the pre-owned automobile industry where price realisations are also getting better. This new Phygital aspect of the auction will give potential buyers full insight on the vehicles before bidding.”