HMSI plans to buy back BS-IV inventory from distributors

NEW DELHI: Sling Motorcycle and ( HMSI ) on Thursday said it has planned a series of measures, including the repurchase of unsold BS-IV shares, in an attempt to support its sales partners and dealer network amid the coronavirus crisis.

The top two-wheeler leader said he plans to repurchase unsold BS-IV inventory with few dealers, primarily in the Delhi-NCR area, and provide advanced incentive payments and rebates on all three functions: sales, service and parts. .

The company will also fully bear the interest cost of the BS-VI inventory (physical plus traffic) with distributors during the 21-day period, he added.

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, HMSI director, sales&marketing,said.

providingyetanothermajorsupport,slingshallalsobeartheinterestcostofthebs-vivehiclesinventoryatallitsdealersfortheentire21-daylockdownperiod,headded.

thecompany'ssupportcomesatatimewhentheunprecedentednationalblockadehasseverelyimpacteddistributorpartnerswhowerealreadyundergreatpressureduetothe16-monthindustryslowdown.

hmsihasalreadyextendedthetimelinebytwomoremonthstocustomerswhosefreeserviceadwarrantywasscheduledduringthelockdownperiod.

thecompanysaidithasalsopostedpaymentsofaroundrs1.7billionrupeestoitssuppliers,distributorsandserviceprovidersontime.

theinitiativeshaveledtoalleviatingtheliquiditycrisisforthecompany'stradingpartnersamidthecovid-19closuresituation,headded.

hmsicurrentlyhasover6,000salesandserviceoutletsacrossthecountry,includingmorethan1,000dealerships.

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