Thousands of Indians rushed to their nearest automobile showrooms on Friday as dealers offered huge discounts and a slew of freebies to clear leftover stock of cars and two-wheelers compliant with the older BS-III emission norms.
On Wednesday, the Supreme Court banned the sale of BS-III compliant vehicles from April 1, dealing a Rs 12,000 crore blow to the auto industry. Dealers were left with just two days to dispose of nearly 850,000 vehicles, around 750,000 of which were two-wheelers.
Many showrooms offered discounts of up to Rs 1 lakh, but in many cities, prospective buyers went back disappointed as dealerships either ran out of stock or downed shutter following excessive rush. Experts said many dealers had booked the vehicles themselves, to sell it later for a massive profit. The sale of the older vehicles is banned from Saturday but there is no restriction on their registration.