When it comes to the recent Kerala floods, we read figures of human loss, people in stranded state and also the financial loss. But, the massive rainfall across the state has reportedly damaged close to 17,500 cars, worth Rs 1000 crores. The cars that are stored in stockyards of 350+ old and new dealerships were damaged.
While the private 4-wheeler users began to seek the insurance, some dealer groups outlined plan to control the burden of loss incurred by getting the help of manufacturers. The car makers are said to be churning out a compensation plan & restocking. Kerala has got 700 auto brand dealers in automobile sector ranging from trucks, scooters, motorcycles, cars, tractors and buses. Given the fact Onam festival is around the corner, these dealers have equipped their stockyard completely with a view to handle the high demand of customers.
Given that these submerged cars can no longer be part of the showroom sale, all the dealers are either auctioning them for a cheaper rate or sending them to scrap.