Chennai Floods: Luxury Cars being Auctioned at Throwaway Prices

The South Indian floods occurred in November-December 2015. Besides wreaking havoc in lives of the people, it also took a toll upon the economy of the states. One of the worst impacts was on the automobile industry, which is still recuperating from this natural catastrophe. Thousands of affected car owners, insurance companies, bankers and dealers are now sending selling request of their flood-hit cars. These cars often range from hatchbacks to luxury sedans and SUVs.

Copart India PVT LTD, subsidiary of the US-based auctioneer currently has piles of flood-hit cars at its Sriperumbudur yard and more counting with each passing day. Mr. Rajeev Kapoor, Managing Director, Copart, said that the cars are being auctioned off as low as ten times of their on-road price. He further stated that cars as new as 2015 models are being sold off at a throwaway prices.

On Wednesday auction, cars like Audi A4 series were available at Rs. 3.4 lac against the actual price range of Rs. 33.5 lac-Rs. 41.7 lac (ex-showroom, Chennai). Similarly, the BMW 3-Series sedan is available at Rs. 6 lac against the current model price range of Rs. 35.5 - 44.7 Lac (ex-showroom, Chennai). Further, the 2012 Porsche Cayenne model is available at base price of mere Rs. 5 lac.

Company has also made it crystal clear that they are only auctioning the cars and the required documents; they are not responsible for the condition and repair of the car. Last week, the online auction portal received 10 cars on a daily basis. The interested buyers are registering with refundable security amount on the website.

Our very own portal cardekhoauctions.com is also working in this field. The portal has launched the Biggest Loss Minimisation campaign for the Chennai Flood Affected Vehicles. The team is working at ground zero since the first week of December with 4 yards in Chennai and nearby areas. The firm has tied up with 16 insurance companies for motor claim and 3-towing agencies for towing of over 50 vehicles/day from the owner's premises to the yards. 

Selling over 400 vehicles till date, through multiple Yard Auction & Online Auction events, the online auction portal aims to sell around 5000 vehicles. Moreover, Cardekho auction portal has also collaborated with car-cleaning agencies for cleaning the car in order to avoid further deterioration. It has a huge stock-pile of luxury cars available for immediate disposal at rock -bottom prices.

If you are interested in buying/selling Chennai Flood Affected Vehicles, you can contact Abhishek Gautam on our group id chennaiclaims@gaadi.com.

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