of the fastest growing manufacturers in the two-wheeler segment in India, Honda
Motorcycle and Scooter India Pvt. Ltd. (HMSI) announced their exclusive tie-up
with Shriram Automall India Ltd. (SAMIL). The initiative aims at organising the
pre-owned two wheeler market. SAMIL is a wholly owned subsidiary of Shriram Transport
Finance Company (STFC) and deals in the sale and bidding of pre-owned vehicles
under various segments like, cars, commercial vehicles and now two-wheelers as
had previously initiated a concept of pre-owned two-wheeler sales through the
Honda ‘Best Deal’ outlets. In a span of two years more than 60 Best Deal
outlets have come up and are operating from 11 different regions in India. The
company has plans to expand this network to a 100 outlets in the coming years.
The new tie-up between HMSI and SAMIL has been initiated in a bid to help
customers through the process of purchase and sale of pre-owned two wheelers.
Honda two-wheeler showrooms will act as a point of contact for customers.
Customers can avail an exchange offer for their old two-wheelers at any Honda
showroom against a new Honda two-wheeler. The old Honda vehicles being
exchanged will be refurbished and certified by Honda’s Best Deal outlets while
the non-Honda vehicles will be refurbished and certified by Shriram Automall.
Automall will conduct bidding and sale of the all non-Honda vehicles which come
to Honda under the exchange program. Customers also have an option of
conducting a physical examination before the bidding process. The bidding
process is conducted by Shriram Automall with proper documentation and fair
S Guleria, Vice President, Sales and Marketing, HMSI, said, “We are proud that
Honda has been pioneering this initiative, which will endow benefits like trust
and assurance of transparent dealing for all stake holders. The contribution
from the pre-owned two wheeler market has been estimated at 15 pc of overall
sales, but this segment has immense potential. Currently this industry lacks an
organised and reliable structure but we aim to bridge this gap”.
Malhotra, CEO of SAMIL, said, “We are positive that this segment will witness
fast paced growth with-in the first year. Customer convenience, hassle free
transactions, on ground events for physical bidding, online bidding, private
treaties and one stop classified kiosks which will create a huge pull”. SAMIL
has a specialised online portal to conduct web based bidding and the company
also holds more than 400 bidding events every month.