The CORONAVIRUS has placed a roadblock in the way of dealers looking forward to clearing their BSIV stocks. Speaking of numbers there is around 6,500 crore worth of BSIV inventory left with the dealers. Prior to the lockdown, dealers were offering huge discounts and offers to the customers to get rid of the stock, but this lockdown has put across a new challenge. The Supreme Court however has announced that the March 31st deadline will be extended to April 24, 2020.
The court also stated that only the 10% of the unsold BSIV vehicles can be sold within 10 days after the lockdown period gets over. This means the dealerships have time until April 24th. It was also mentioned that the vehicle should be registered within 10 days of its sale and cannot be sold in the DELHI NCR region.
Rajan Wadhera, President, SIAM, had stated, "As per quick estimates by SIAM, it is expected that Plant closure of Auto OEMs & Components will lead to loss of more than Rs 2,300 crores in turnover for each day of closure."
The Federation of Automobile Dealers Associations (FADA) had approached the Supreme Court and had filed an interlocutory application along with an application seeking modification in the petition that stated no motor vehicle conforming to emission standard Bharat Stage-IV shall be sold or registered in the entire country with effect from April 1, 2020. Over 7 lakh two-wheelers, 12,000 passenger and 7,000 commercial vehicles were set to become unsalable after April 1, 2020.
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