Coronavirus impact: Honda 2Wheelers pledges support to its dealerships
Honda 2Wheelers pledges to support its dealerships during the nationwide lockdown period. This includes advance payments of incentives and reimbursements across sale, service and spare parts, the company will also buy back the unsold BSIV inventory from its dealers in the Delhi NCR. Along with that, the company will also bear the interest cost of BSVI inventory with the dealers during the nationwide lockdown period.
Yadvinder Singh Guleria, director of sales and marketing at Honda 2Wheelers India, said, "In these challenging times, Honda 2Wheelers India has extended an exhaustive financial support package for its dealers. The support package will effectively provide immediate liquidity to our dealer partners and we are confident that it will comprehensively ease their business continuity anxiety and improve cash flow. Providing yet another major support, Honda shall also bear the interest cost of the BSVI vehicles inventory at all its dealers for the entire 21-day lockdown period."
The company earlier extended its free service and warranty period by two months to support its customers, it will help people who have their free service due during the lockdown period and the warranties that expire during this period will also be treated with an extension of two months.
The company has also released payments of Rs 1,700 crore to its suppliers, dealers, and service providers. This would eliminate cash crunch and help with the timely salaries of the staff and vendors.