New Delhi: After announcing the deadline for sale and registration of BS-III norms vehicles ending today, major two-wheeler companies are all set to offering massive discounts on various two-wheelers to clear out their stock at the earliest.
According to the sources, major manufacturers of Two-wheeler have announced heavy discounts as high as Rs 22,000 on the purchase of various scooters and motorcycles. The discounts came in soon just after the barred the sale and registration of BS-III norms vehicles by Supreme Court of India from April 1.
Many major two-wheelers sellers report “stock sold out” within few hours of such discounts offered, say reports.
(Image Source: inKhabar)
Which Automobile Company is offering how much discount?
In this race of offering huge discounts, Honda Motorcycle and Scooter India (HMSI) is proposing an instant cashback of net Rs 22,000 on buying any of their two-wheelers. Earlier, HMSI had started waiving off with a discount amount of Rs 10,000, but reaching to timelines, raised it to Rs. 22,000 later.
On the other hand, TVS Motor is offering two-wheelers discounts up to Rs 20,150 on its all BS-III variants in the market. They are offering this discount until March 31, 2017.
Whereas, Hero MotoCorp is offering discounts of up to Rs 12,500 on its all segments of BS-III two-wheelers in the market.
Bajaj Auto is also offering their customers a discount of Rs 12,000 on it BS-III variants.
In addition, many major companies are also providing free insurance on top of discounts on the BS-III vehicles available in the market.
Earlier this announcement, The Supreme Court of India had on Tuesday ruled that Bharat Stage-III norms vehicles will not be sold or registered starting April 1. Giving high preference to public health over commercial interest, the top court had forbidden the argument of all major automobile manufacturers that they had unsold stock of about 8 lakh vehicles already that meet the BS III emission norms.
The bench of Justice Madan B Lokur and Deepak Gupta on banning the trade and registration of BS-IV non-compliant vehicles had said that all the authorities related to vehicle registering are strictly prohibited from registering any BS-IV non-compliant vehicles from April 1.
According to the source, the companies had asked Supreme Court for 6 to 8 months to finish the inventory of BS-III vehicles stock already available in the market, which the court refused without any condition. The industry already has an inventory of around 8.2 lakh BS-III vehicles in the market for sale, out of which around 96,000 of inventories are commercial vehicles and 6 lakh two-wheelers which meet BS-III emission norms. The total estimated cost of these vehicles recorded into Rs 12,000 crore, according to reports.
News Source: http://www.india.com/news/india/bs-iii-two-wheeler-sell-out-quickly-as-automobile-majors-offer-discounts-as-high-as-rs-22000-1979014/