Hero MotoCorp stands firmly behind dealers, will take care of unsold BS IV stock

Even as the Supreme Court gave a reprieve of sorts to the automobile dealer fraternity by allowing sale of 10% of all unsold BS IV stock/inventory for 10 days from the end of the all-India lockdown (April 14) except in Delhi and NCR, Hero MotoCorp has assured its dealers that it will take care of all unsold BS IV stock/inventories lying with them.

As per a PTI report, the company, which is India's and the world's largest two-wheeler manufacturer, told its dealers not to worry about BS IV stocks. Addressing around 1,000 Hero MotoCorp dealers in an interactive digital town hall meeting yesterday, Chairman Dr Pawan Munjal said dealers would not have to suffer due to the unsold inventory of BS IV vehicles. The company's expansive dealer network across the country is understood to have an estimated stock of over 100,000 BS IV motorcycles and scooters.

"I stay firm on my own personal commitment and that of the organisation – to ensure the welfare and wellbeing of each one of you," Dr Munjal told dealers.

A company dealer, who attended the town hall meeting, confirmed the assurance given by the chairman. The company, however, did not issue a formal note on the meeting and neither offered a comment on the event.

Munjal told dealers that the company's teams are working diligently and tirelessly to find ways and means to absorb or utilise the stocks and they will connect with the dealers soon on this. "We are all in it together and we shall overcome this together."

According to the PTI report, the Hero MotoCorp chief also asked company dealers to utilise the current period to bring about innovation and improvements to the business models. "Be considerate to your staff, we will support you during the lockdown period, not just in business, but also in the up skilling of your staff," said Dr Munjal.

While supporting the 21-day lockdown by the government due to coronavirus pandemic, he asked the dealers and their staff to follow social distancing. "I am aware of the difficulties that this may be posing to a lot of you.  I want you to know that during this time we are together with you," he reassured the dealers at the Town Hall, which was also attended by the company's leadership team.