Post the Supreme Court hearing last month which banned the sales and registration of all BS-III vehicles, many dealers and auto makers were forced to clear their existing inventory and were offering huge discounts. SIAM claims that these discounts have added up to a loss of over Rs 1,200 crore.
This is not the first time the auto industry has faced such a big loss. During the diesel ban which lasted for eight months between December 2015 - July 2016 the industry suffered a loss of over Rs 4,500 crore and now with banning of BS-III vehicles the industry is likely to report a loss of Rs 2,000 crore.
While diesel ban affected passenger vehicles with over 2.0L diesel engines, the BS-III vehicles registration ban has affected the commercial vehicle and two-wheeler industry. The Auto industry with no other option left is looking to export its unsold inventory to its export markets.
Do you know the state which tops the rank among the sales for Electric Vehicles? New Delhi sources have stated that Gujarat, West Bengal, Uttar Pradesh, Rajasthan and Maharashtra have emerged as the top 5 states in electric vehicle (EV) sales. The Society of Manufacturers of Electric Vehicles (SMEV) said on Thursday that an SMEV survey of EVs sold during the last fiscal showed that 1,926 of these were sold
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