The country's largest two-wheeler maker Hero MotoCorp on March 28 assured its dealers to take care of their unsold BS IV stock. Addressing around 1,000 company dealers at an interactive digital town hall on Saturday morning, Hero MotoCorp Chairman Pawan Munjal assured dealers that the company will not let them suffer due to the unsold BS IV inventory.
"I stay firm on my own personal commitment and that of the organisation – to ensure the welfare and well being of each one of you," Munjal told dealers.
A company dealer who attended the town hall confirmed the assurance given by the chairman.
The company, however, did not issue a formal note on the meeting and neither offered a comment on the event.
Munjal told dealers that the company's teams were working diligently and tirelessly to find ways and means to absorb or utilise the stocks and they will connect with the dealers soon on this.
Frequently Asked Questions
A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.
There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.
Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.
"We are all in it together and we shall overcome this together," Munjal told the dealers.
He also asked the dealers to utilise the current period to bring innovation and improvements to the business models.
"Be considerate to your staff, we will support you during the lockdown period, not just in business, but also in the up skilling of your staff," Munjal said.
While supporting the 21-day lockdown by the government due to coronavirus pandemic, he asked the dealers and their staff to follow social distancing.
"I am aware of the difficulties that this may be posing to a lot of you. I want you to know that during this time we are together with you," he reassured the dealers at the Town Hall, which was also attended by the company's leadership team.
According to industry sources, around 1,000 Hero MotoCorp dealers are holding close to 1.5 lakh BS-IV stock with them.Auto dealers of various companies are staring at huge losses as the lockdown has hampered retail sales and they are saddled with the large BS-IV inventory.