Honda to Pay 40-Day BS6 Inventory Interest Cost to Dealers; Now Open

Honda is trying to help its dealerships in whatever ways it can. It announced interest payment of the complete BS6 inventory for the first lockdown. And in a latest, it has included the additional 19 days of the extended lockdown which makes it a total of 40 days.

This, in itself, is a big relief for all the dealerships which were shut during these unprecedented times due to the COVID-19 virus inferring zero sales and no earnings. However, expenses like electricity bills, employees salaries, interest on the inventories, continued which had put everyone under stress.

After getting clearances from various state governments, Honda dealers have started commencing operations from 4th May 2020 in a staggered manner. Honda has provided a comprehensive Dealership Operations Resumption Manual to all showrooms and workshops which mandates ways to adhere to strict safety and cleanliness protocols, and to also ensure social distancing between staff and customers.

Honda has discontinued the Hornet 160R for now.

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At the reopening of its dealership chain, Yadvinder Singh Guleria, the newly promoted Director – Sales & Marketing, HMSI, said,

In these challenging times, Honda 2Wheelers India proactively extended a comprehensive financial support package for its dealers. We have also decided to bear additional 19 days’ interest making it a total of 40 days of interest cost by Honda on the BSVI inventory at our dealers. We are confident that the overall support extended will largely ease business continuity concern of our dealers. Also, with significant easing of economic activities restrictions by the government, we are moving forward cautiously in a stepwise manner. Safeguarding all stakeholders’ health & well-being, our dealers who are in green and orange zones are starting their operations to serve our customers. Honda family reassures its customers that your Safety comes First at every Honda outlet across India.

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Honda has, so far, updated six of its best selling models to BS6 norms, which still leaves almost 14 of the other models temporarily discontinued. So, after things settle down a bit, the first priority of the company would be to decide and launch the pending motorcycles and scooters in the market.