BS III ban: Rs 5000 cr worth vehicles still unsold despite heavy discounts

With Rs 5,000 crore worth of BS- III vehicles remaining unsold after the Supreme Court banned them, auto industry body SIAM on Tuesday said an increasingly uncertain business environment will affect investments in the sector.

The apex court had banned sale and registration of BS-III vehicles from April 1, affecting a total of over 8 lakh vehicles worth up to Rs 20,000 crore.

"Currently, there are around 1.2 lakh units of BS-III vehicle inventory worth around Rs 5,000 crore. Most of them are lying with the dealers," Society of Indian Automobile Manufacturers (SIAM) Director General Vishnu Mathur told reporters here.

He said