Adding another portfolio to the vehicles finance business, Shriram Transport Finance Company (STFC) launched a refurbished trucks bazaar to set foot into the second hand truck finance market. R Sridhar, MD of STFC, said the new enterprise under the brand name Shriram Automall is a wholly owned entity being set up as a trading company to extend reconditioned small, medium and heavy trucks.
Speaking about the rationale behind the company?s foray into refurbished logistics carrier market, he said STFC has financed close to four lakh second hand vehicles a year disbursing a sum of around Rs 5,000 crore towards this vertical. ?We are here to create the replacement demand for new vehicles and address the vacuum of financing in the pre-owned truck financing,? he said.
