Honda to Buyback Unsold BS4 Inventory: Since dealing with the coronavirus has brought the entire nation to a standstill, every citizen and organization is offering its bit to lessen the impact caused by the pandemic with Honda Motorcycle and Scooter India (HMSI) being the latest one. The brand has announced several relief measures to help its sales and service partners across India in the time of need.
HMSI has recently announced an extension of service and warranty for the Honda motorcycle and scooter owners till June 30th while the now the brand has announced a support package that will offer immediate liquidity to its dealers.
According to the recent initiative, the brand will effectively offer advance incentives and reimbursements across the three functions including sales, service and spare parts. In addition to this, the brand will be buying back the BS4 inventory left unsold with the dealerships, especially in the Delhi NCR area.
The official announcement made by the brand further added that the brand will bear the interest cost of BS-VI inventory (physical plus transit) with the dealers for the 21 days of the lockdown.
Commenting on the announcement of the support package, Yadvinder Singh Guleria, director of sales and marketing, Honda Motorcycle and Scooter India said, “The support package will effectively provide immediate liquidity to our dealer partners and we are confident that it will comprehensively ease their business continuity anxiety and improve cash flow.”
The brand’s support package is one of the most appreciated steps taken in the time of indefinite nationwide lockdown that will help lessen the impact of economic slowdown on the already drowning automotive dealerships. The brand has also promised to make a timely release of payments worth INR 1,700 crores to its suppliers as well as service providers. The brand currently has 1,000 dealerships across India in addition to the 6,000 service and sales outlets.
