Honda joins Shriram Automall in pre owned two wheeler bidding business
Shriram Automall India Limited (SAMIL) is a one-of-its kind subsidiary of Shriram Transport Finance Company (STFC). SAMIL caters to pre-owned 2-wheeler segment by selling used bikes and scooters to customers through physical or online bidding process.
Honda Two Wheelers has partnered with SAMIL to facilitate better proposition for customers who exchange non-Honda vehicles for a new Honda product. These used other-branded two wheelers will be sold to buyers with proper documentation via Shriram Automall interfaces. Buyers will have to bid to win their desired used vehicle. The company’s specialized web portal is bids.samil.in where available pre-owned vehicles can be browsed and bid upon. SAMIL conducts around 400 bidding events every month. Last year, Shriram Automall held over 4000 online bidding events.
According to Mr Y.S. Guleria, Vice President of Sales and Marketing at HMSI, pre-owned two-wheeler market is valued to be around 15 percent of overall sales, but the potential is much higher. Through organised and reliable structure, this business can be made very rewarding, not to mention safer deals and transactions for customers.