on 30, Aug 2018

Kerala was struck by a natural calamity which came in the form of floods, covering almost 11 districts out of the 14 districts in Kerala, rendering lakhs of people homeless with the death toll exceeding 400 and an estimated loss of Rs 20,000 crore. Various support groups and people from all over India were actively involved in the wellbeing of the affected, by organizing various relief camps and supporting the needy with essential food, water, and clothes. The people of Kerala came together to help one another by participating in rescue missions and evacuations from day one itself. Support poured in from all sides, but the most remarkable form of support was from the local fishermen, who valiantly took their fishing boats to the flood-affected areas, thereby rescuing thousands of people who were trapped in their homes.

The extent of damage inflicted on people, livestock and infrastructure are discerning, but the rain and the accompanying floods have also wiped out nearly 17,500 cars which are worth around 1,000 crores. The flood came rushing in just a week before the Onam festival of Kerala which explains the sheer volume of cars affected among the 350 dealerships which were stocking more cars to welcome the festive season demand. The sales will also be affected in the coming months as a majority of the people seems to have taken a hard beating from the deluge. The Insurance companies are also busy analyzing and assessing the vast number of claims for private vehicles.

 

Most vehicles affected were the ones stored in lots which were brand spanking new and ready to be delivered to a customer. Many dealerships were also submerged in water which rose to alarming levels affecting demo and test-drive vehicles. The flood was completely unprecedented that most of the of people had no choice but to leave their vehicles and personal belongings to shift to a safe ground. Out of the affected cars, the minor ones will be restored and sold with the help of dealerships while the more affected ones will be heading out for the auction. The cars will be auctioned at a considerably cheaper price but restoring it into its former glory might be strenuous and time-consuming. Some affected cars will also be scrapped for parts. Manufacturers will step in to the picture as the losses experienced by the affected dealerships seems to be of large extent.  


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