The country is under a 21-day lockdown and it has affected almost every industry nationwide. Meanwhile, Hero MotoCorp is now taking back unsold BS4 stock from its dealers. The automaker has taken this step to give the dealerships a sigh of relief. The court has already given a 10-day extension on the sale of BS4 vehicles. The dealerships can now sell their BS4 stock up to April 24th. The lockdown ends on 14th.
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Hero MotoCorp is most likely to export the BS4 stock that they will take back from the dealers. The dealers will get full compensation in return of the stock. Mr Pawan Munjal, chairman of Hero MotoCorp had a video conference with their dealers where they announced this step that would favour the dealers. The exact details how the organisation will absorb the stock is yet to be disclosed but as stated earlier, they will most likely import the vehicles.
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Some automakers like Royal Enfield and Bajaj were able to clear the existing stock well in time. Hero MotoCorp is one of those automakers who still have their BS4 stock unsold at the dealerships. The Supreme Court of India has allowed the dealerships to sell only 10% of the remaining stock after the lockdown is over. This process needs to wind up in a span of 10 days only.
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It is rumoured that almost 7Lakh BS4 vehicles remain unsold with the dealers. Hero MotoCorp and Honda two-wheelers form the majority of the unsold inventory. Hero MotoCorp has come forward to help its dealers and we expect something similar from Honda too. The Coronavirus pandemic wasn’t predicted or called for. It is a difficult situation where some humans can help other humans to ensure a peaceful existence. Almost all industries worldwide facing the ill effects of the virus outbreak and therefore, major stakeholders are expected to help in a difficult time. Let’s see what the future brings.
