- Hero to take back unsold BS4 stocks
- Dealers will be compensated
- Company likely to export the unsold stocks
Hero MotoCorp has decided to take back all the unsold BS4 scooters and motorcycles from its dealers. This process will be done throughout the entire country.
This announcement was made by Pawan Munjal, chairman, Hero MotoCorp during a video-conference call with all its dealers. The top honcho assured that the company would take care of the unsold BS4 scooters and motorcycles. However, the exact details on how the company would absorb the inventory and pay its dealers are not known yet.
March 31st was the last day to sell and register BS4 vehicles. While a lot of brands like Bajaj and Royal Enfield managed to clear the BS4 stocks a few weeks before the dealing, a few brands like Hero MotoCorp still had some bikes that needed to be sold. Unfortunately, due to the COVID19 pandemic, the entire country is in a lockdown situation, due to which Hero dealers can’t sell the last few BS4 stocks. Plus, the Supreme Court of India allowed only 10 per cent of the unsold stock to be sold post the lockdown. And this process needs to be done within 10 days.
Hero MotoCorp is bound to be affected by this new development. But the company might offset some loses by exporting these unsold stocks to other countries.
Source: livemint
EDIT: Hero MotoCorp is taking back unsold stocks from Delhi-NCR region dealers only.
