After the landmark decision on the prohibition of the sale of BS-III vehicles by Supreme Court on March 29, 2017, and a majority of Indian middle-class people who always aspired to own their personal vehicle made their dream come true. This is because many two wheeler manufacturers were offering up to Rs 22,500 in discount.
For the first time ever, huge queues were seen in front of all the showrooms across the country which eventually exhausted the inventories of all vehicle manufacturers.
More than 8 lakh vehicles were sold in just two days thanks to the major discounts over popular models by most of the two-wheeler manufacturers. According to various dealers across the country, most of the inventories in the areas were stocked out on the second day by afternoon.
When Supreme Court announced its decision on the ban of BS-III vehicles, more than 9 lakh BS-III units were not sold at that time. Out of these 9 lakh units, 7.51 lakh units were two-wheelers and rest were commercial vehicles and passenger vehicles.
So, going by the dealer community and other sources, all the two wheeler-dealers were stocked out so a total of 7.51 lakh units were sold. And it is clear by the fact the discounts were around cars and commercial vehicles a total of 8 lakh units were sold in the last two days of March.
“Two-wheeler dealers had the highest inventory at the time of the ruling. After discounts, almost all the dealer went stocked out across the country expect the premium motorcycle showrooms. There has police protection across many showrooms. It may be the highest record-breaking retail sales. In the festive season of Dhanteras and Diwali, the sales are pretty much well planned as a lot of pre-booking happens in advance. This is an absolutely an overnight fire sale. I am assuming 5 lakh two wheelers were sold on 1st day itself”
Nikunj Sanghi, former president FADA.
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India, being the largest two-wheeler market in the world with the second largest population, it is a possibility that it is the first time ever in the world that 8 lakh vehicle were sold in two days.
“Almost all the dealers went out of the stock second day evening. I expect it to be record-breaking retail sales. In fact, somebody told me that RTOs were jammed pack. People who need one scooter or motorcycle bought two to because of heavy discounts. For a new vehicle, this was the largest discount given by the companies.”
Abdul Majeed, Partner, PWC
While it was a happy time for the Motown, some environmental experts believed that there is no effect of the ruling as the air quality remains the same. As the vehicles which were supposed to sold over few months got sold in two days and they will be on road soon.