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Hero MotoCorp has assured its dealers in India that the company will be absorbing all its unsold BS4 vehicles. According to a report from LiveMint, the company will be taking back all the BS4 vehicles, including the unsold motorcycles and scooters from its dealer partners.
However, there is still uncertainty of how the company plans to absorb all the vehicles. Hero MotoCorp is also yet to announce the reimbursement process for all the vehicles it takes back from the dealers as well.
Reports also suggest that Hero MotoCorp could export the unsold BS4 models. The company could export all the leftover BS4 stock to Latin American or African countries, where the emission norms are much more relaxed. However, the company is yet to make any sort of official statement regarding its BS4 stock.
The deadline for the sales and registration of BS4 vehicles in India was supposed to be the 31st of March 2020. However, with the current covid-19 situation causing the entire country to be in lockdown, the supreme court has extended the deadline.
As per the request from FADA (Federation of Automotive Dealers Association), the Supreme Court of India has extended the BS4 deadline to the 24th of April 2020. As per the ruling, companies can sell just 10% of their stock for 10 days after the end of the lockdown. However, there are still some restrictions as well — here are all the details.
As per reports, India currently has around Rs 6,400 crore worth of unsold BS4 vehicles. This includes two-wheelers, four-wheelers and commercial vehicles. The coronavirus has completely put a hold on all processes in the country.
Most major manufacturers have suspended production. Companies like Mahindra Maruti Suzuki and others are now working with the government to scale up production of ventilators and medical equipment; supporting the government in fighting the deadly virus.
Thoughts On Hero MotoCorp Absorbing All Unsold BS4 Vehicles
Hero MotoCorp has brought relief to their dealers across India, by absorbing the unsold BS4 vehicles. We are, however, currently waiting for an official statement from Hero MotoCorp regarding the same, along with their plans for the unsold BS4 motorcycles and scooters.