Honda Motorcycle & Scooter India is doing all it can to ease the pressure off its dealer partners amidst the Coronavirus lockdown. The ...
Honda Motorcycle & Scooter India is doing all it can to ease the pressure off its dealer partners amidst the Coronavirus lockdown. The company has already released payments worth Rs. 1,700 crore to its dealers, vendors and service providers across India. HMSI will also buy back all unsold BS4 stock lying with its dealers and bear the cost of interest for the BS6 inventory at its dealerships. Honda has taken other measures such as advance payments of incentives and payments across its three functions of sales, service and spare parts. The unprecedented scale of the lockdown due to the spread of COVID-19, dealerships and auto companies are under intense pressure. The buying sentiment was down much before the lockdown was put into place.
Also Read: Auto Dealerships Facing Severe Losses Due To COVID-19 Lockdown
Elaborating on how Honda as a responsible corporate is committed to taking care of its dealer partners in these uncertain times, 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 BS6 vehicles inventory at all its dealers for the entire 21-day lockdown period."
Also Read: Hero Pledges Rs. 100 Crore Towards COVID-19 Fight
Honda India Foundation, the corporate social responsibility (CSR) wing of Honda group companies, has pledged an amount of Rs. 11 crore to fight the coronavirus pandemic along with relief and prevention efforts as well. Honda will supply 2,000 units of high pressure backpack sprayers with Honda engines to various government agencies, which can be used for disinfecting and fumigation at public areas and other places. The initiative was taken by Honda in consultation with Government and is part of the collaborative efforts from the auto industry to support India's fight against COVID-19.
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