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Liquidation of BS-IV Stock: Dealers fear missing March 31 deadline
With several state governments issuing circulars to end registration process for BS-IV vehicles much before March 31, 2020
New Delhi: With several state governments issuing circulars to end registration process for BS-IV vehicles much before March 31, 2020, and the fear of coronavirus keeping buyers away from showrooms, automobile dealers fear that they would not be able to liquidate the BS-IV inventory before the month-end deadline.
According to automobile dealers' body Federation of Automobile Dealers Associations (FADA), things were under control till February-end and it was only in the first week of March that the dealers started getting circulars from state transport departments with deadlines for getting the BS-IV vehicles registered.
Besides, the banks also came out with notices that they would not finance BS-IV stock after specific dates in March, further impacting the confidence of the dealers. It was followed by the coronavirus outbreak, which has led to steep fall in footfalls in the showrooms.
"So, lot many things have come together and, now, suddenly there is fear among dealers that they won't be able to liquidate the BS-IV stock.
At the start of March, we were reasonably confident that the problem of leftover stock would not be much," FADA President Ashish Harsharaj Kale said.
Dealers have started getting circulars from state transport departments with different sets of deadlines to close the registration process for BS-IV models, he added.
The dealer body has approached the state governments and the Ministry of Road Transport and Highways regarding the matter, but the confusion has already impacted the confidence of the dealer community, he added.
FADA is also engaging with banks to continue finance for BS-IV units till the March-end, Kale said. "We have received some support from states like Punjab, West Bengal and Chhattisgarh.
They have assured that they will open even on the weekends to clear the registration process," he added.
