[TusharK]

Toyota has announced a support package for car dealerships. The 'COVID Package' is expected to provide assistance to dealer partners to overcome the lockdown and ensure their safety and well being.



According to Toyota, the package will ensure liquidity by giving cash flow support to sustain the business during the lockdown and protect dealer partners for approximately 38-75 days based on individual dealer overheads.

The COVID Package provides immediate settlement of any dealer claims, inventory interest subsidy for vehicles in dealer stock and spare parts payment deferment among other supports.

Toyota is also working with its finance partners for a one-time reduction of inventory funding interest.

Link to Team-BHP News

[haneeshN]

This is a nice gesture from Toyota and shows they care for their dealers. This can definitely help a lot of dealers to manage cash flow and pay employees.

This thread https://www.team-bhp.com/forum/india...ovid-19-a.html (Some car dealerships will go out of business due to Covid-19) gave insights on how difficult it can get for the dealerships and seems like Toyota has come up with a good option to address this.

I wish other manufacturers also come up with similar solutions. This will not only help the dealership owners but also prevent many employees from losing their job.

[GTO]

Thanks to a Team-BHP Fan (who prefers to stay anonymous) for sending this information in. Heartfelt gratitude for sharing it with other enthusiasts via this Team-BHP page!

[TusharK]

According to a media report, Hyundai has announced a support package for its dealer partners. The Hyundai Dealer Care Package is said to improve cash-flows and provide support during these difficult times.



It has been reported that all pending dues from Hyundai to dealers are being credited to the working dealer bank account by April 10, 2020.

Hyundai has also allowed the deletion of Pending Inventory Funding Orders and refund the unused indent amount to respective bankers. This is expected to reduce the interest cost for dealers during the lockdown and prevent future repayment issues.

Besides this, March 2020 Dealer Incentive will be processed with the relaxed Target Achievement Condition of 50% as against the normal 100%. The March incentives will be paid by April 14, 2020. Quarterly incentives will also be calculated with relaxed conditions of March and paid along with the March incentives.

The dates for submission of Rural, H Promise and Institutional Claims have also been relaxed.

The company is working to support dealers with possible advance payments for cashless approval cases from insurance companies. It is also working with banks to offer support to their dealers during the lockdown period as well as beyond that.

The report also states that Hyundai is increasing the production of demand models and variants to clear the customer bookings.

Source

Link to Team-BHP News

[Bibendum90949]

A benign and thoughtful gesture from Toyota. These are troubled times and a big one at that. Hope other manufacturers too follow suit. Dealers who have deep pockets may still tide over these unprecedented crisis. It's the not so big ones that are facing the heat and measures like this would hopefully make them stay afloat and live to fight another day.

[wheelguy]

Maruti Suzuki's move comes as due to the countrywide lockdown, dealerships are facing troubles with cash flow.

New Delhi: Maruti Suzuki has reportedly transferred Rs 800-900 crore to its dealers to support them during the coronavirus crisis that has led to the steep sales decline.

As the Indian auto sector has taken a hard hit by the coronavirus outbreak and a subsequent lockdown imposed by the government, several automakers are stepping up to help their dealer partners. Maruti Suzuki's move comes in-line with that.

A media report quotes Shashank Srivastava, Executive Director, Sales and Marketing, Maruti Suzuki, said, “Dealers are facing problems with cash flow right now. We have transferred Rs 800-900 crore in cash funds to dealers to support them at this point.”

He also mentioned that Maruti Suzuki's dealers had no BS-IV inventory by March 23 and that is why the company didn't extended support to them. Srivastava further said that Maruti Suzuki is preparing to restore normalcy in its operations after the lockdown is lifted.

As the media report claims, Maruti Suzuki’s dealer network inventory would be 1.35 lakh units. The automaker is aiming to increase its online marketing campaigns once the lockdown is lifted in a bid to sell the stock.

The automaker has ended the FY20 with a 16 percent decline as compared to FY19. Also, its sales dropped by 47 percent to 83,792 units in March 2020, as compared to 158,076 units registered in the same month a year ago.

As ETAuto had reported earlier that in order to minimise the financial crisis arising due to the lockdown, vehicle manufacturers like Hero MotoCorp, Volkswagen, Renault and FCA have come forward with a set of support packages for their dealers and help them to deal with the crisis.

Link

[wheelguy]

Now Skoda jumped on the bandwagon.

Skoda to fund dealers’ April-June fixed cost, new launches on schedule

Image Source

This financial support will be to pay salaries and meet other fixed cost at the company’s 80 dealer outlets in the country, Skoda said on Tuesday. It may be releasing Rs 50-60 crore this quarter to meet the obligations on behalf of dealers.

Mumbai: Czech carmaker Skoda Auto will provide financial support to its dealers in India to cover their fixed cost for the April-June quarter, as their outlets are shut due to the nationwide lockdown and the future remains uncertain.

This financial support will be to pay salaries and meet other fixed cost at the company’s 80 dealer outlets in the country, Skoda said on Tuesday. It may be releasing Rs 50-60 crore this quarter to meet the obligations on behalf of dealers.

Skoda is in a phase of building up its network as it renews its India strategy, and it wants to protect the channel partners in these difficult times, said the company.

The company needs to make sure that the core dealer network is intact and ready before it rolls out its India 2.0 strategy, Skoda Auto India director of sales, service and marketing Zac Hollis told ET.

“We are not only taking care of the immediate cash flow needs of the dealers, but are assuring them of full support for the next three months. Their health and safety is critical in our future growth and we are using this time well to maintain the network is good health,” Hollis added.

The company is working on a plan to resume operation — dealer-to-dealer and region-to-region — depending on the lifting of the current lockdown.

[blackwasp]

Thanks to the Team-BHP fan (he prefers to remain anonymous) who sent these images in. Heartfelt gratitude for sharing it with other enthusiasts via this page!

[blackwasp]

Continued from last post...

[blackwasp]

Thanks to a Team-BHP Fan (who prefers to stay anonymous) for sending this information in. Heartfelt gratitude for sharing it with other enthusiasts via this Team-BHP page!

Here's what Volvo is doing:

[YashD]

I feel we should also mention, what the manufacturers are doing for the country & it's citizens too during these difficult times.

Just read this article about what Hyundai is doing, attaching a couple of screenshots for the same.





MG Motors



Honda Cars India



Skoda & Volkswagen India






Massive respect for all the manufacturers coming out to help our society in times like these! A heartfelt Thank You to all of them.
Also, I couldn't find a thread on similar hence apologies if I am posting these again.

News Courtesy: Indiatoday, LiveMint & TOI

[blackwasp]

Thanks to the Team-BHP fan (he prefers to remain anonymous) who sent these images in. Heartfelt gratitude for sharing it with other enthusiasts via this page!

Skoda will be supporting their dealers upto the tune of Rs. 13 lakh per month for the second quarter of 2020.

[wheelguy]

Nissan India joins the bandwagon:

New Delhi: Nissan Motor India Private Limited (NMIPL) on Tuesday, announced Support Package for Nissan and Datsun dealers and customers, the carmaker said in a letter to its dealer partners.

Rakesh Srivastava, Managing Director, NMIPL said, “The current situation calls for unrivalled preparedness to ensure the continuity of our services towards the customer.”

“As a customer centric organization, we are introducing key measures to immediately address your challenges including improving your cashflows,” he added.

• Dealers are not required to contribute in consumer offers/schemes and exchange programs from their dealer margins.

• In the first quarter of the current financial year, the company has decided to provide structural support to manage fixed expenses, along with paying sales incentives based on per unit volumes with no linkage to targets.

• For parts incentives of Q4 FY20, March 2020 target achievement will be considered at 50 percent, besides a waiver of "express service establishment" qualifier.

• To compensate inventory financing, 30 day average credit-free period has been given for the lockdown period and NRFSI supported retail finance program for “Zero Mile” cars.

• Additionally, to improve cash flows, pending corporate claims, warranty claim disbursements, parts and claims incentive payouts for Q4 FY20 raised by dealerships on or before March 31, 2020 will be processed within the month of April 2020.

• Once the automaker resumes its operations, it will consider upward revision of warranty labour rates and extend the timeline for warranty claims submission.

Source

[fazayal]

Guys. Scoops and insider information is fine.

However, is it ethical to publish confidential documents of a company on a public forum? Just a thought.

[blackwasp]

Thanks to the Team-BHP fan (he prefers to remain anonymous) who sent these images in. Heartfelt gratitude for sharing it with other enthusiasts via this page!

Kia's dealer support program: