Supreme Court of India banned the sales of BS3 compliant vehicles from 1st April 2017. This resulted many of the dealers across India, who had huge stocks of old BS3 vehicles had to sell their stock so, they announced huge discounts to clear the BS3 bikes.
As per the SC order, TVS Motors ordered all dealers to sell only BS4 compliant bikes fromApril 1st, 2017. TVS bikes are sold in over 4,000 dealers across the country. TVS Motor is fully geared up to meet the new emission guidelines. They had already started manufacturing and selling of BS IV compliant vehicles to the dealers across India.
The many dealers across India offered huge discounts of up to INR 20,000 to clear the BS3 stock, but they also suffered huge losses.TVS Motor took initiation and paid their dealers. The Rs. 57 crores have been allotted from the company’s fourth quarter profits. The total sum of Rs. 57 gonna settle their losses, which they incurred during the clearing BS3 old stocks.TVS Motor is among the first to settle dealer losses.
After listening to this news that surprised dealers as well as other OEMs, That they were not expected this from the company to settle the dealer losses.