Shriram Automall, a subsidiary of Shriram Transport Finance Company, plans to open 50 automalls by 2013 with an investment of around Rs 100 crore, a top company official has said.
"Automall is a unique platform for the second-hand trucks market. Automall will benefit truckers in promptly replacing their vehicles. We plan to roll out 50 such centres over the next three years," Shriram Transport Finance Deputy Managing Director UG Revankar told PTI here.
On revenue expectation from this business, he said the company is looking at netting around Rs 30 crore this fiscal.
Each Automall will come up on a 3-4 acre plot with an investment of around Rs 1.5 crore and will function on a lease basis, he added.
The company has launched its fourth Automall at Panvel near here over the weekend. It already has three such centres in Delhi, Baroda and in Chennai.
"Shriram Transport aims to bring in more transparency while buying and selling used commercial vehicles and the Automall is one such facility," he said.
The company plans to open two more Automalls in Hyderabad and Jaipur by the end of this fiscal and is eyeing revenue of Rs 30 crore by FY12.
The Automall will also house OneStop, a virtual truck bazaar that will provide real-time information about used trucks available for sale and simultaneously facilitates registration of individual buyer's requirements.
"Customers will be free from brokers and RTI documentation by the OneStop service. The company plans to install one such facility at all its 500 dealerships," Revankar said.
