covid impact: HMSI to buyback BSIV inventory from NCR dealers

NEW DELHI: Honda Motorcyle & Scooter India (HMSI) Thursday said it will buy back all unsold BSIV inventory lying in Delhi-NCR to support its dealer partners amid the lockdown imposed nationally to check the spread of coronavirus pandemic.

The company said it has also decided to advance payments of incentives and reimbursements across the 3 functions (sales, service and spare parts) and entirely bear the interest cost of BS-VI inventory (physical as well as those in transit) with the dealers for the 21 days of nationwide lockdown.

Yadvinder Singh Guleria, director (Sales and marketing), Honda Motorcycle & Scooter India, 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-VI vehicles inventory at all its dealers for the entire 21-day lockdown period.”

Rival Hero MotoCorp has also announced plans to buy back unsold BSIV inventory from dealers in NCR and to offer financial support to dealer partners in other areas.