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New Cars Worth 1000 Crore Damaged
By: Tupaki Desk | 28 Aug 2018 7:54 AM GMT
The devastation caused by the floods in Kerala is worse than anyone has ever imagined. Brand New Cars worth as many as Rs 1,000 crore meant for the sale across the Southern State during the Onam Festival got damaged after remaining under water for more than a week.
Kerala accounts to 1/4th of the car sales across six Southern States. Obviously, The damage is gonna be huge when flooding happens almost everywhere in such a state with big market. Close to 17,500 cars in 350 dealerships across Kerala were in worse condition. How will Dealers who incurred irreparable losses be able to payback to the Carmakers is a million dollar question.
Generally, There will be no takers for cars which were submerged under water for a long duration. Even if there are any interested people, The resale value could be too low and doesn't justify the average price of the cars (Rs 5-6 lakhs).
There are over 700 car dealerships across Kerala. Automobile Dealers Association has been urging Insurance Companies to compensate at least 75 percent of the insured amount.
Kerala accounts to 1/4th of the car sales across six Southern States. Obviously, The damage is gonna be huge when flooding happens almost everywhere in such a state with big market. Close to 17,500 cars in 350 dealerships across Kerala were in worse condition. How will Dealers who incurred irreparable losses be able to payback to the Carmakers is a million dollar question.
Generally, There will be no takers for cars which were submerged under water for a long duration. Even if there are any interested people, The resale value could be too low and doesn't justify the average price of the cars (Rs 5-6 lakhs).
There are over 700 car dealerships across Kerala. Automobile Dealers Association has been urging Insurance Companies to compensate at least 75 percent of the insured amount.
