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Honda Motorcycle to offer 100% loan to buyers; will resume wholesale dispatches this week

Honda Motorcycle to offer 100% loan to buyers; will resume wholesale dispatches this week

Honda Motorcycle to offer 100% loan to buyers; will resume wholesale dispatches this week
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By Alisha Sachdev  May 17, 2020 10:32:58 AM IST (Published)

CNBC-TV18 had earlier reported that vehicle makers have prepared and apprised their retail network of detailed Standard Operating Procedures (SOPs) in a post-Covid world.

Japanese two-wheeler maker Honda Motorcycle and Scooter India said it is seeing retail momentum build up after the phased opening of its dealership network.

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The company also said it is resuming wholesale dispatches this week. HMSI has delivered over 21,000 scooters and bikes since its showrooms reopened, and serviced another 2.5 lakh bikes and scooters at company workshops.
It is important to note that two-wheeler makers Honda and Hero MotoCorp consider a sale to a sub-dealer in tier-II and tier-III cities as sales from the dealership. The total retail number, therefore, reflects both sales to the end-consumer and to the network. The retail sales by themselves reflect completion of pre-lockdown deals.
Honda said that 45 percent of its dealers, amounting to 30 percent of its total network touch points have now restored partial operations. The dealers are following their respective district authorities' guidelines and the company's operations restart manual.
CNBC-TV18 had earlier reported that vehicle makers have prepared and apprised their retail network of detailed Standard Operating Procedures (SOPs) in a post-COVID world.
Since most two-wheeler buyers take loans to make the purchase, credit availability is crucial. Many self-employed and salaried people have seen their incomes fall because of the widespread disruptions in the wake of the COVIOD pandemic.
To make it easier for people to buy its product, Honda has introduced a 100 percent loan-to-value cover for new vehicles. It is also offering low down-payment options, and attractive EMI options through partner banks and NBFCs
Honda 2Wheelers report minimal BSIV inventory, and enough availability of BSVI stock to cater to current demand.
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