Honda Motorcycle & Scooter India Pvt. Ltd. (HMSI) has been strong name in the Indian two wheeler segment. This time around the only Honda in two-wheeler segment has announced its new initiative in pre-owned two-wheeler market in collaboration with Shriram Automall India Limited (SAMIL). The one-of-its kind wholly owned subsidiary of Shriram Transport Finance Company (STFC) shall cater to the pre-owned 2-wheeler segment.
Speaking more on the new interesting collaboration, Mr Y.S. Guleria, Vice President, Sales and Marketing, HMSI, said, “We are proud that Honda has been at the forefront of ushering in this landmark initiative that would endow benefits like trust and assurance of transparent dealing for all stakeholders. Currently the contribution of pre-owned two-wheeler market is estimated to be 15% of overall sales, but the potential is immense. At present, the industry lacks an organized and reliable structure. Through this tie-up we aim to bridge this gap.” Adding to this, Mr. Sameer Malhotra, CEO of SAMIL, said, “We are delighted to announce our exclusive tie-up with Honda to create an organized market for pre-owned 2 wheelers. With our successful pilot, we are optimistic about the fast growth within very first year of this tie up. Customer convenience, hassle-free transactions, on ground events for physical bidding apart from Online Bidding, Private Treaty and One Stop Classified Kiosks will surely create a huge pull.”
As while ago Honda had initiated a concept Certified Pre-owned Outlets under the brand name of ‘Best Deal’ to serve as a great option in the pre owned 2wheeler market. In just a span of about 2 years more than 60 Best Deal outlets have now been operating in 11 different states of India. The new collaboration aids in offering reliable solution for transactions of pre-owned 2 wheelers, as it shall serve as one point contact for customers. The existing Best Deal shall reportedly be able to exchange the Old Honda vehicle and also deliver that to a Used Vehicle Buyer along with refurbishment and certification. The latest collaboration with Shriram Auto Mall shall allow Non-Honda vehicles to be replaced against New Honda Vehicle as well. Bidding process for such used Non-Honda vehicles will be conducted by Shriram Auto Mall with proper documentation and at Fair Pricing. Valuation would be done using a methodical process for the pre-owned two-wheelers, the sellers can be assured of the maximum value for their old 2 wheeler and shall also have multiple purchase options. Also, customers get an opportunity to conduct inspection of vehicles prior to the physical bidding process.
