Kerala Floods Damaged Cars Auction — Around 17,500 Models Valued At Rs 1000 Crore

The 2018 Kerala Floods have claimed a lot of lives in the state and many are left with most of their belongings gone. God's Own Country has never before seen a calamity of this scale in at least 90 years. Among the public and private properties destroyed is a whole range of vehicles, big and small. Now, reports suggest that all of such flood-affected dealership cars could go up for auction.

Almost 17,500 Flood-Affected Cars In Kerala Could Head For Auction; Valued At Rs 1000 Crore

Almost 350 vehicle dealerships were affected by the large-scale flooding and 17,500 cars are estimated to have been damaged. This includes new models and customer cars which were present in the affected areas.

Almost 17,500 Flood-Affected Cars In Kerala Could Head For Auction; Valued At Rs 1000 Crore

Insurance companies have started receiving thousands of damage claims for private vehicles, submerged in flood water. The damage scale is quite high since water levels rose by almost six to eight feet in certain parts of the state.

Almost 17,500 Flood-Affected Cars In Kerala Could Head For Auction; Valued At Rs 1000 Crore

RushLane shares that the extent of damage that has occurred to dealership inventory, in a week's period, is around Rs 1000 crore. But this is only a small portion of the total amount of damage the flood has caused. Many are still at rescue camps thinking of how to start their lives from the very bottom.

Almost 17,500 Flood-Affected Cars In Kerala Could Head For Auction; Valued At Rs 1000 Crore

Kerala accounts for 27 per cent of the total automotive market in South India, with an average sales volume of 2,45,000 units in a quarter. The festival of Onam which underwent last week was usually a peak time for business, especially automotive. Brands usually give lots of offers and bonuses on their products during Onam but this time, everything went downhill.

Almost 17,500 Flood-Affected Cars In Kerala Could Head For Auction; Valued At Rs 1000 Crore

Taking the gravity of the situation into account, manufacturers will assist their authorised dealerships to regain its business through effective compensation. As for the damaged cars, there is almost no way to bring them back to their ideal working conditions and it's best to give them up for auction.

Thoughts On Kerala's Flood-Affected Car Going Up For Auction

Almost 17,500 Flood-Affected Cars In Kerala Could Head For Auction; Valued At Rs 1000 Crore

The state of Kerala is yet to completely recover from the flooding and many are still confused as to how to get things back to normal. While insurance claims require time to get processed, some have already come up with plans to scrap the damaged cars. If the flood-affected cars go up for auction, they can be bought for cheap. However, a good amount of time, effort and money are required to bring them back to its original working condition.

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Read more on: #auto news #off beat
Article Published On: Tuesday, August 28, 2018, 16:57 [IST]
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