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Shriram Automall acquires BlueJack car auction platform

Shriram Automall acquires BlueJack car auction platform
CarTrade Editorial Team CarTrade Editorial Team Friday 06 March 2020, 18:47 PM

Shriram Automall India (SAMIL), backed by Shriram Group and CarTrade, has acquired online car selling portal BlueJack. With this acquisition, the company targets to transact over 1.2 million vehicles worth more than Rs. 30,000 crore per year. Along with Shriram Automall’s physical and online bidding platforms, more than 10 million customers will get additional means of car selling through this deal. BlueJack is expected to fully integrate with SAMIL’s operations and group companies in the first half of 2020.

There will be a lot of synergies in play with SAMIL’s existing shareholders Shriram Transport Finance Company (STFC), which is the largest player in used commercial vehicles finance and MXC Solutions (which operates the used and new car marketplaces CarTrade and Carwale). The Group counts a base of 10 million buyers across new and used vehicles, loans and insurance among other allied products and services.

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. The company buys cars using its proprietary pricing database and holds a live auction to calculate an offer within minutes, and then sells the vehicles to one of its 5,000 dealerships. The brand is one of the largest players in the Delhi NCR market and using the Shriram platform, it will be implementing its experience and technology across the country.

 

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