As per a report by PTI, Hero MotoCorp, one of world's largest two-wheeler manufacturers, has announced a financial package for its deale...
As per a report by PTI, Hero MotoCorp, one of world's largest two-wheeler manufacturers, has announced a financial package for its dealer partners across the country and help them sustain during the Coronavirus lockdown when financial activity has come to a grinding halt. The financial package was announced by Pawan Munjal, Chairman, Hero MotoCorp, at a digital townhall over video conferencing earlier in the week. In a gist, the measures include a revised pricing structure on new products, financial support towards interest on dealer stocks and new financing options from Hero FinCorp, which is the company's retail finance arm. This means that Hero Fincorp will disburse an appropriate amount for dealers which are in accordance with the dealerships's wage and rental liabilities. This loan will be offered at a subsidised rate of interest.
Also Read: Hero MotoCorp To Take Care Of Unsold BS4 Stock
(Dr. Pawan Munjal, Chairman, Hero MotoCorp has been keeping in touch with Hero dealers through the COVID-19 situation)
"We have revised the pricing structure that will enhance your profitability, and the new structure will be applicable on all dispatches post the lockdown. Additionally, I am also happy to announce financial support towards the interest on the dealer stock for the complete lockdown period of 41 days," Dr Munjal said at the virtual town hall.
Also Read: Hero MotoCorp To Advance Payments During COVID-19 Lockdown
The virtual town hall meeting was attended by dealer partners, staff from sales and after sales departments and the senior leadership team as well. Dr Munjal has now addressed the dealers of Hero MotoCorp twice in less than a month. At the earlier town hall, he said that the dealerships will not have to suffer due to unsold BS4 inventory. One of the dealers who attended the Town-hall meeting confirmed the same as well. Dr. Munjal said that teams at Hero MotoCorp are working tirelessly to find ways and means to absorb or utilise unsold BS4 stocks and will connect with Hero dealers on this.
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