A report in Money Control reveals that TVS Motor is offering a low-cost upgrade for its BSIII compliant stock remaining at dealerships. The two-wheeler and three-wheeler manufacturer also recently announced a one-time payment of INR 57 crores to its dealers as compensation for the discounts offered on March 30-31, 2017.
The report cites a circular issued by TVS to its dealers which read:
Despite the best effort some of the dealers had reported some BS III vehicles left over with them. Based on the [old] BS III stock details shared by you, we will be taking back all the BS III vehicles which are produced on or after April 2016. Once the vehicles are converted to BS IV the same vehicles that are taken back will be supplied to your dealership.
While retrofitting a BSIII compliant engine to meet the new BSIV standard was expected to be an expensive procedure. TVS Motor will not charge dealers for this transformation but a processing fee of INR 2,000 per vehicle will be charged. However, most of the BSIII units will be exported.
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In April 2017 TVS Motor sold 81,443 scooters, up from 63,341 units in April 2016. On the other hand, motorcycle sales grew to 99,890 units, which is a jump of 10.4 percent on a year on year basis.
[Source: MoneyControl]
