Mahindra and Mahindra, after announcing their CERO initiative along with the government of India, has now revealed new plans. The company has signed an MoU with CERO to introduce a one-stop solution for vehicle scrappage. The move comes after a month of the new scrappage policy announced by the GoI. Through this, customers can directly bring in their old vehicles (of any make) which can be either 15-years or more in terms of age to a Mahindra dealership. Here, they can get the vehicle scrapped and go ahead and buy a new car from Mahindra. If they intend to just scrap the vehicle, they can do the same and get a certificate from CERO. Post producing this certificate, they are eligible for some discounts on their next vehicle purchase.
If the customer’s car is unfit to be brought to the dealership, then the personnel will come to the home of the prospect. They will inspect the vehicle, give an evaluation and then get it towed to the nearest authorised scrapyard. The Certificate of Destruction (CoD) will then be issued. De-registering the car is also something that the CERO authorities will handle, thereby giving peace of mind to the customer. The recovered raw materials from the cars/buses/motorcycle will be supplied back to companies that can make use of them. These materials are also tested for stringent quality and sustainability requirements. It is said that automotive steel is one of the best available. This is so because it can be easily melted and remade thus helping the case of the circular economy.
Renault India has also come out with a similar plan with CERO. It is called as R.E.L.I.V.E. The same policy applies and customers in major metros like Bengaluru, Mumbai, Delhi-NCR, Pune and Chennai can bring in their old vehicles to the dealerships. There the authorised personnel will quote the evaluation of the vehicle, provide a CoD certificate along with an additional guaranteed scrap benefit over the existing monthly offers from Renault. If you have a old two-wheeler, Renault will still take it and also provide you with a 7.99 per cent rate of interest on buying a new car from them.
A few days ago, we had carried a report on how the confusion regarding scrappage policy can be cleared. It had stated the end-to-end solution as one of the main requirements. Thankfully enough, this seems to have been conveyed to the auto companies and we expect more such automakers to come forward and offer their services to the public.
Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.