With the fast approaching deadline for complying with BS-VI emission norms, two-wheelers manufacturers have launched attractive schemes to clear existing inventory. Most two-wheelers manufacturers have registered negative growth in the last 10 months, which has led to a significant increase in inventory levels.
With discount offers and other benefits, motorcycle and scooter manufacturers are hopeful of clearing the old stock before April 1, 2020. India's second largest two-wheeler manufacturer Honda Motorcycle and Scooter India (HMSI) has announced new festive offers for its Activa 5G Limited Edition and CB Shine.
Both products are bestsellers in the company's portfolio. Activa is the best selling scooter in India with over 2 lakh units sold every month, while CB Shine is the best selling Honda motorcycle in India with about 1 lakh units sold every month.
New offers include a low down payment of just Rs 1,100, which would make it attractive to people who do not have adequate cash. Honda is also offering no-cost EMIs and zero processing fees, which would reduce the overall cost of acquisition for customers. If payments are done via Paytm, customers can also benefit from cashback of up to Rs 7,000.
Apart from these two best selling products, the Honda discount offer is also valid on their other products. With stocks on the rise, and sales on decline - dealers are left with no other option, but to offer huge discounts.
Activa is currently the top selling two-wheeler for Honda while CB Shine occupies the second spot. Activa had registered negative YoY growth (-14.94%) in July, but MoM growth was positive at 2.90%. In case of CB Shine, both YoY and MoM growth were positive in July 2019, at 9.75% and 11.41% respectively. With the new offers, sales of these products could get a further boost. Just like Activa, a Limited Edition has also been launched for CB Shine.
Limited Edition of both Activa 5G and CB Shine come with refreshed exteriors and new features. However, mechanicals remain the same for both two-wheelers. Honda has also announced launch of BS-VI compliant Activa 125, which is scheduled for September 11. It will be the first two-wheeler in the country to have BS-VI compliant engine. Other Honda scooters and motorcycles will be updated to BS-VI in the coming months.