Shriram Automall India Limited (SAMIL), India’s Leading Marketplace for Pre-owned Vehicles and Equipment, launched the first-of-its-kind used vehicles and equipment price trends reports – ThePriceX Insights Report 2022. This report delivers segment-wise and model-wise price trends of four-wheelers, commercial vehicles, construction equipment, farm equipment, and two-wheelers across India from any source and geography.
As every used vehicle & equipment is unique having different conditions and running history, it’s very difficult to evaluate the right market price for them. ThePriceX Insights Report 2022 developed with expertise from Yardi School of Artificial Intelligence, IIT Delhi to enhance their in-house developed pre-owned vehicle valuation platform ThePriceX, which provides insights based on real data and analytics which will help buyers and sellers to make better decisions while buying & selling used vehicles & equipment. Shriram Automall has compiled millions of transactions points over the past 11 years, its operational expertise, and scientific analysis of the market trends to deliver a purposeful report to assist buyers and sellers with their transactions.
SAMIL has tracked auctioned vehicle price data and information from every unique transaction from all its businesses i.e., SAMIL, CarTradeExchange and BlueJack through the ThePriceX tool.
ThePriceX Insights Report 2022 is fuelled by ThePriceX, an advanced price prediction engine backed by technology and huge pool of used vehicle data. The Reportdelivers segment and model-wise price trends, insights, and richer information about the prices of used vehicles and equipment that will help buyers and sellers to make better decisions when it comes to buying or selling used vehicles and equipment in India. Furthermore, this report is a scientific and insightful approach to price discovery of used vehicles and equipment across the length and breadth of the country. The data available in the report provides clear insights into how the prices have progressed over the years.
SAMIL’s ThePriceX Tool uses machine learning algorithms, simultaneously evaluating a vehicle based on 100+ factors including make, model, age, mileage etc., to estimate the right price range. Price indexes are validated by correlating with key industry metrics in a bid to separate the degree of change in used vehicles & equipment prices over time.
ThePriceX Insights 2022 report also consists of important pointers that deliver up-to-date information, reviews, and outlook of the used vehicles & equipment sold in a particular year. The report also provides Expert Talk on all major segments.
Mr Umesh Revankar, Executive Vice-Chairman, Shriram Finance said, “ThePriceX Insights Report 2022 is one-of-its-kind cutting-edge price indices report that delivers model-wise price trends, insights, and wealth of information on used vehicles in the market. We are proud on this moment as we became first in the industry to deliver something ground-breaking which provides scientific price discovery of used vehicles leading to enhanced transaction efficiency.
Mr Vinay Sanghi, Chairman & Managing Director, CarTrade Tech stated, “Continuing our lead in the used automotive industry as an innovative and technologically ingenious company, Shriram Automall India Limited has delivered another remarkable product in the form on ThePriceX Insights Report 2022. This report along with ThePriceX tool will help stakeholders to discover price trends of used vehicles & equipment. The right price for buying and selling will bring optimal valuation, lower research times and risk mitigation.”
Sharing his views on the launch, Mr Sameer Malhotra, Director and CEO, (SAMIL) said”We are glad to launch the first-ever one-of-its-kind ThePriceX Insights Report 2022 in India which delivers fine-tuned information on the price trends of all kind of used vehicles and equipment like Cars, Trucks, Construction Equipment, Farm Equipment and Two-wheelers based on Millions of transactions over the past 11 years. ThePriceX Insights 2022 Report is likely to empower our buyers and sellers like Banks, NBFCs, Insurance Companies, OEMs & Dealers, Leasing, Rental & Aggregator Companies, Brokers, Transporters, Contractors and End users to transact used vehicles & equipment more effectively and efficiently for better profitably.”
ABOUT SHRIRAM AUTOMALL INDIA LIMITED (SAMIL):
Shriram Automall India Limited (SAMIL), an ISO 9001:2015 certified company, is India’s leading Marketplace connecting used vehicles and equipment buyers and sellers. Samil is backed by CarTrade Tech Limited and Shriram Finance (Previously, Shriram Transport Finance Company Limited), SAMIL has over 1,700 employees and more than 120 Automalls across India. SAMIL conducts thousands of auction events every month through its Phygital platforms (Automalls) and online platforms cartradeexchange.com & bids.samil.in. SAMIL also provides vehicle inspection and valuation services through Adroit Auto, innovative car buying and selling experience through BlueJack, precise used vehicles & equipment pricing through ThePriceX and industrial auction of properties, plant and machinery, commodities, and scrap, salvage and surplus assets through 123done.in.
