Ashok Leyland, the flagship company of the Hinduja Group, has partnered with Shriram Automall to enter the used commercial vehicle business. SAMIL will facilitate the rapid sale of used resumes through its online and offline auction platforms.
Shriram Automall India Limited (SAMIL), one of India’s leading used vehicle markets, has signed a Memorandum of Understanding with Ashok Leyland to launch an exclusive platform for its used commercial vehicle business. The company’s phygital platform (physical and digital) will facilitate the exchange, disposal and purchase of old commercial vehicles. SAMIL aims to organize the used vehicle market by leveraging its digital auction ecosystem as well as more than 100 physical shopping malls located across the country.
As part of this agreement, SAMIL will provide its online and offline auction platforms to all potential buyers approaching Ashok Leyland dealerships to sell their used vehicles and purchase new vehicles. The company claims to offer fast turnaround time, the best resale value, and hassle-free processes. The Shriram Group says customers can also enjoy the value benefits of related services such as parking, logistics, trade finance and insurance from SAMIL, which will simplify the asset purchasing process.
Sharing his perspective on the merger, Sameer Malhotra, CEO of Shriram Automall India Limited, said: “It gives us great pleasure to work with Ashok Leyland to mark their entry into the used vehicle market. SAMIL lives up to its mission of bringing innovative digital solutions to improve the customer experience to the next level. Using the expertise of OEMs in the commercial vehicle segment and our phygital auction platforms that include over 100 Automall networks across India, we aim to create all-inclusive mobility solutions for buyers and sellers. .
Commenting on this business expansion, Sanjay Saraswat, Head – MHCV, Ashok Leyland, said, “Along with our aspirations to be an end-to-end mobility solutions provider, this partnership will help establish our presence in the commercial vehicle segment of opportunity. Building on our experience as one of the world’s largest truck manufacturers, this initiative will help unclog the ecosystem with a consumer-centric digital solution that will serve as an easy-to-use point of contact for our consumers. This initiative will also contribute to the implementation of the scrapping policy at the local level and help us move forward towards a greener future.
Financial Express is now on Telegram. Click here to join our channel and stay up to date with the latest news and updates from Biz.