Indian automakers still have unsold stock worth Rs 5,633 crore of BS-III vehicles
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After the Also read: SC ban on BS III vehicles will cost the auto industry nearly Rs 12,000 crore
India’s leading commercial vehicle manufacturers, including Tata Motors, Ashok Leyland, Mahindra & Mahindra and VE (Volvo-Eicher), along with two-wheeler makers like Hero MotoCorp, Honda Motorcycle & Scooter India (
Also read: Half a dozen international car makers are hoping to enter the Indian market. Here’s why
After receiving the order on March 29, these automobile makers offered hefty discounts of upto 50% for remaining two days of March 31. The offers attracted several buyers, even as they made these companies suffer losses of around Rs 1,200 crore.
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Now, they have two options left; either to export these vehicles to markets that still conform to BS-III norms, or to bring back the vehicles to factories and upgrade them to BS-IV standards. The latter, however, would be a much-expensive process as compared to the former.
(Image source M&A Critique)
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