TVS comes out as the first manufacturer to return the money involved in dealer level losses during the BS3 sale on last two days of March 2017. They have returned a total of INR 57 Crore to all the dealers who sold the BS3 vehicles in those two days. TVS was offering around INR 20,000 of discount on few of its products and all of that was handled by the company. TVS was one of nearly all the brands that offered huge amount of discounts on their BS3 compliant products.
TVS Returns Rs 57 crore to its Dealers for BS3 Discount Losses
The fourth quarter profits were used to pay the same amount to the dealers. There have been certain reports that dealers are facing problems regarding these loses as some brands are not agreeing to clear the amount of losses from their side. Those two BS3 days saw companies offering mouth watering discounts and around 8.24 lakh units were to be sold in just 48 hours. The products with higher potential were sold in few days while others are still with the dealers till date.
Supreme Court of India took the decision to ban the sale of BS3 vehicles from 1st April 2017. Companies thought of getting extension for the same but were shocked with the ruling on 29 March 2017. The next 2 days saw people getting into dealerships and coming out with the same motorcycle or scooter that they planned to buy few days later. TVS Motors is one of the big four Indian retailers when it comes to yearly sales from the brand. They even have a racing team under them!
