Deadline on sale of BSIV vehicles extended till April 24, 2020
The pandemic of Coronavirus had raised concerns on the plans of clearing the BSIV stocks of all vehicles in the country. In terms of value, there is still Rs 6,500 crore worth BSIV inventory left with the dealers that needs to to be cleared. While dealers across the country had been trying to offer lucrative discounts to get rid of the stock, the 21 day lockdown that has been imposed on the country, has put across a new challenge. However, the Supreme Court made an announcement today on this topic, that mentions of an extension of the deadline from March 31st to April 24, 2020.
The apex court stated that 10 per cent of the unsold BSIV vehicles can be sold within 10 days after the end of the lockdown period, which is April 14, 2020. This gives the dealerships across the country to sell these vehicles till April 24, 2020. The Supreme Court also mentioned that these vehicles cannot be sold in Delhi NCR and also the vehicles have to be registered within 10 days of its sale.
Commenting on the impact of the Coronavirus on the Indian automobile industry, Rajan Wadhera, President, SIAM, had stated, "As per quick estimates by SIAM, it is expected that Plant closure of Auto OEMs & Components will lead to loss of more than Rs 2,300 crores in turnover for each day of closure."
Earlier, the Federation of Automobile Dealers Associations (FADA) had approached the Supreme Court and had filed an interlocutory application along with an application seeking modification in the petition that stated no motor vehicle conforming to emission standard Bharat Stage-IV shall be sold or registered in the entire country with effect from April 1, 2020. Over Rs 7 lakh two-wheelers, 12,000 passenger and 7,000 commercial vehicles were set to become unsaleable after April 1, 2020.
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