Shriram Automall India Ltd., a subsidiary of Shriram Transport Finance Co. Ltd., the largest asset financing company in the country, launched two new initiatives that will provide organized trading facilities to the small truck operator for the first time ever to motivate him to replace his old truck faster.
Shriram One Stop, a computerized touch screen kiosk which will be a virtual Truck Bazaar, will provide real time information about used commercial vehicles available for sale. This will bring more transparency while buying and selling used commercial vehicles. These will be set up in all the 487 branches of the company spread across the country in a phased manner. Under the second initiative old trucks of all makes will be acquired from the market and will be refurbished and sold under the new brand name Shriram Newlook with their commercial value enhanced.
According to Mr. U. G. Revankar, DMD, Shriram Transport Finance Co. Ltd., “these value added services will benefit every stakeholder in the transport industry and will facilitate faster replacement and better quality used vehicles on Indian roads”. He added that in the last 30 years Shriram has helped replace nearly 20 lacs trucks by providing affordable acquisition credit to the small truck operators, freeing them from the clutches of the unorganized sector and in the process speeding up the modernization of the national truck fleet.
Shriram Transport Finance Company Limited is the flagship company of the Shriram group which has significant presence in Consumer Finance, Life Insurance, General Insurance, Stock Broking, and Distribution businesses. Incorporated in 1979, Shriram Transport is today the largest asset financing NBFC in the country and holistic finance provider for the commercial vehicle industry and seeks to partner small truck owners for every possible need related to their assets. It has PAN India presence with 487 branch offices. Based at Mumbai, it manages assets over Rs 30,000 crores and has a customer base exceeding 7,00,000.
