Hero Moto Corp assures dealers to take care of unsold BS-IV stock

The country's largest two-wheeler maker Hero MotoCorp on Saturday assured its dealers to take care of their unsold BS IV stock.

Addressing around 1,000 company dealers at an interactive digital town hall on Saturday morning, Hero MotoCorp Chairman Pawan Munjal assured dealers that the company will not let them suffer due to the unsold BS IV inventory.

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

A company dealer who attended the townhall 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 were 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," Munjal told the dealers.

He also asked the dealers to utilise the current period to bring 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," Munjal said.

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.

According to industry sources, around 1,000 Hero MotoCorp dealers are holding close to 1.5 lakh BSIV stock with them.

Auto dealers of various companies are staring at huge losses as the lockdown has hampered retail sales and they are saddled with the large BS-IV inventory.