Shriram Automall India Limited (SAMIL) which is backed by Shriram Group & CarTrade, has acquired BlueJack, an online car selling portal in a bid to accelerate its offline auction market position with online used car sales.
Shriram Automal With On-boarding the online car auction technology and team at an undisclosed amount will be able to address the growing need of the market, At present 70 lakh used cars are being sold in India every year valuing the market at over Rs 50,000 crore in 2022. With this acquisition, Shriram Automall targets to transact yearly over 1.2 million vehicles worth more than Rs. 30,000 crore.
Along with Shriram Automall’s physical & online bidding platforms, pan India 10 million+ customers of SAMIL & its affiliates will get additional means of car selling through this deal .
Since its inception in 2016, BlueJack had auctioned more than 25,000 vehicles on its platform. It operates in Delhi with dealers from 10 states, including cities like Bangalore and Hyderabad. BlueJack buys cars using its proprietary pricing database & a live auction to calculate an offer within minutes & then sells the vehicles to one of its 5,000 empanelled dealerships. BlueJack is one of the largest players in the Delhi NCR market & using the Shriram platform, it will be implementing its experience and technology across the country.
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