BS-III bikes sell out like hot cakes over two-day discounted suggest
By PTI | Published: 30th March two thousand seventeen 07:15 PM |
Last Updated: 31st March two thousand seventeen 01:40 PM | A+ A A- |
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Fresh DELHI: Two-wheeler majors Hero MotoCorp, HMSI, Bajaj Auto and Suzuki Motorcycle are suggesting discounts of up to Rs 22,000 on BS-III models to liquidate stocks, a day after the Supreme Court banned sale and registration of such vehicles from April 1.
With 6.71 lakh two-wheelers, out of over eight lakh BS-III vehicles impacted by the ban, dealers said the instantaneous effort is to sell as many units as possible before the deadline by suggesting “unheard of discounts” in the industry.
Honda Motorcycle and Scooter India (HMSI), which had primarily suggested a plane discount of Rs Ten,000 on its BS-III scooters and motorcycles enhanced it to Rs 22,000 later in the day.
The company said it is suggesting cash back suggest of Rs 22,000 on its BS-III scooters and motorcycles models Activa 3G (priced Rs 50,290), Fantasy Yuga (Rs 51,741), CB Shine (Rs 55,799 to Rs 61,283) and CD 110DX (Rs 47,202 to Rs 47,494).
Market leader Hero MotoCorp suggested discounts of up to Rs 12,500 on its BS-III two-wheelers. According to dealers, the company is suggesting rebate of Rs 12,500 on its scooters, Rs 7,500 on premium bikes and Rs Five,000 on entry level mass market motorcycles.
The models on which discounts are suggested include scooters Duet (priced Rs 49,480) and Maestro Edge (Rs 51,030), motorcycles Glamour (Rs 59,755) and Splendor one hundred twenty five (Rs 55,575).
Another two-wheeler maker Suzuki Motorcycle India also announced offers on its Let’s scooter and Gixxer motorcycle.
On the scooter, Let’s priced (Rs 47,272 to Rs 53,766), the company suggested a discount of Rs Four,000 plus a free helmet, while on Gixxer (Rs 77,452 to Rs 90,421) the benefit is up to Rs Five,000 with exchange benefits of up to Rs Two,000. All prices are ex-showroom Delhi.
Bajaj Auto also suggested discounts and free insurance on its different models, embarking from the entry level Platina to Pulsar RS200 in the range of Rs Trio,000 to Rs 12,000 along with free insurance.
“If there are any unsold inventory left, we have the possibility to export as we are a big exporter to around seventy countries across the world,” Bajaj Auto President (Business Development & Assurance) S Ravikumar told PTI.
The companies said the suggest will be valid till stocks last or up to March 31.
However, due to the large rush following the discounts, 2-wheelers in many showrooms have been sold out.
Rakhi & Amit Jain are among many who visited numerous dealers but left dejected as BS-III 2-wheelers were sold out. @NewIndianXpress pic.twitter.com/PmFPIPoLqn
“These are unheard of discounts ever in the two-wheeler industry,” Federation of Automobile Dealers (FADA) past president and Director-International Affairs Nikunj Sanghi said.
Because of the strenuous request, by the end of the day, dealers in Chennaiwere selling vehicles at diminished discounts, suggesting just at Rs 20000-30000 price cut. “We can register vehicle in a day, with papers ready by tomorrow. The financial aspects can wait, said a TVS dealer in Chennai’s Vaavin area, when asked about prices of a BS3 vehicle.
When asked about what deeds were dealers taking following the apex court verdict, he said: “Our energy is focused on selling as much stock as possible before the deadline. Our people are calling up potential customers informing them about the offers.”
He said the dealership community was hoping for some ease from the court in the form of more time to sell their stocks but with that not happening, the concentrate has shifted to liquidating the stocks.
Afterwards, it will have to be discussed with the manufacturers what to do with the unsold inventories, if at all any are left, he added.
On the commercial vehicles front, Ashok Leyland said it wasn’t suggesting discounts on any of its vehicles.
“Our products are in good request and we will not be suggesting any price discounts,” a company spokesperson said.
Mahindra & Mahindra said it is working on various options to work within the framework provided by the court order.
It is “even attempting to liquidate as much of the company’s and its dealers’ BS III inventory as possible by March 31, two thousand seventeen and will make every attempt to minimise the one time influence of this order on the company’s financials”, without sharing details of the steps.
Comments from Tata Motors could not be obtained.
Observing yesterday that health of the people is “far, far more significant” than the commercial interests of the manufacturers, the Supreme Court said that automobile firms have declined to take “sufficient pro-active steps” despite being fully aware that they would be required to manufacture only BS-IV compliant vehicles from April 1, 2017.