HMSI announces measures to reinforce dealer partners amid Covid-19 chaos1 min read . Updated: 18 Apr 2020, 10:43 AM IST
As a part of the support measures, HMSI said that all the unsold BS 4 inventory will be bought-back from its dealerships.
As if the BS 4 to BS 6 transition wasn't enough to break the camel's back, the nationwide 21-day lockdown has now shaken the automotive industry to the core.
Now, in order to ensure the business continuity of its dealer partners, Honda Motorcycle & Scooter India (HMSI) on Thursday announced numerous support measures and incentives to reinforce its dealers amid the ongoing Covid-19 chaos.
The company promised advance payments of incentives and reimbursements across sales, service and spare parts to its dealers.
It mentioned that all the unsold BS 4 inventory will be bought-back from its dealerships 'majorly in the Delhi NCR region'. Moreover, HMSI also announced that it is ready to bear the entire interest cost of BS 6 inventory (Physical as well as Transit) with the dealers for the 21-day lockdown.
Speaking on the matter, Mr. Yadvinder Singh Guleria, Director – Sales & Marketing, Honda Motorcycle & Scooter India Pvt. Ltd. Said, “In this challenging times, Honda 2Wheelers India has extended an exhaustive financial support package for its dealers. 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 & improve cash flow. Providing yet another major support, Honda shall also bear the interest cost of the BS 6 vehicles inventory at all its dealers for the entire 21-day lockdown period."
The company previously announced an extension period of two months on the free service and warranties expiring between the lockdown (March 15th to April 15th). It revealed the company has also released payments amounting close to ₹1,700 Crores to its suppliers, dealers and service providers on time.