Chennai: Shriram Automall India Ltd, one of the largest platforms for pre-owned vehicles and equipment, on Tuesday launched 'ThePriceX', an online tool to measure the resale value of a used automobile.
Backed by the company's decade old experience in selling pre-owned vehicles, the platform, available both on the web and as an application, would be used to get the true resale value of a used vehicle and also its selling price, a company statement said here.
''Be it a user or a business, ThePriceX will be serving all. The buyers can know the right value of the vehicle in just 60 seconds. The sellers will be able to use the tool to know the right value of their inventory and help liquidate faster,'' company director Sameer Malhotra said.
The application would also be beneficial to new vehicle dealers as they can get the right exchange value for the used vehicles ensuring a smooth and hassle-free transaction, Malhotra who is also the company's CEO said.
''From our 10 years of experience we know the right price of every vehicle, enhanced with extensive use of data science and machine learning algorithms. We have brought a digital platform to discover the price of any vehicle type and from any source across the country,'' he said.
Malhotra said 'PriceX' would be quite essential for whoever deals in used vehicles or wants to associate in future. The product would also help ascertain right risk assessment for insurance and leasing companies. Shriram Automall India currently has over 100 auto malls, 17.50 lakh registered customers, 80,000 plus sellers, the statement added. —PTI