New Delhi: A few months back Supreme court has banned Bharat Stage 3 vehicle, but the company makes were in hope to get relief from the supreme court. Now, Automobile dealers have asked companies to take back unsold inventory Bharat Stage 3 (BS3) vehicle worth Rs 12,000 crore- if the Supreme court & green authorities do not permit their sale from April 1st.
Retailers of Federation of Automobile Dealers Association (FADA) refused to take back previous generation vehicles(an inventory of nearby 9 lakh units). As per their view, there will be the catastrophic failure of their business which may result in large scale losses and even closure of many retail points.
FADA has sent the urgent missive to auto industry body Society of Indian Automobile Manufacturers (Siam) as well as to Tata Motors and Ashok Leyland, the two manufacturers which have a large amount of BS3 inventory lying in the market.
Also Read:
Tata to resolve the wage settlement of its workers in coming weeks
India to invest more on Synthetic rubber
India's leading tyres making CEAT sold it’s 3.54% worth Rs.185 crore to Jwalamukhi Investment