Toyota Kirloskar Motor rolls out dealer support package

Our Bureau Bengaluru | Updated on March 31, 2020

A view of the Toyota Kirloskar Motor plant at the Bidadi Industrial area, Bengaluru   -  GRN Somashekar

Package will provide assistance to dealers to tide over ‘liquidity issues and improve cash flow’

Toyota Kirloskar Motor (TKM) has announced a dealer support package ― Covid package ― for its associates to support and protect their interests.

A statement from the company late Monday said this package will provide necessary assistance to dealer partners to overcome the lockdown phase, ensuring their safety and well-being during these times of uncertainty .

The package is designed after careful evaluation of individual dealerships’ customised internal processes and fixed cost, thus allowing them optimum utilisation of the benefits. The primary objective of the package is to ensure liquidity to sustain the business during the lockdown, thus protecting dealer partners for approximately 38 to 75 days, based on individual dealer overheads, by giving cash flow support that will help them sail through these perilous times.

The Covid-19 package ranges from an immediate settlement of any dealer claims, to inventory interest subsidy for vehicles in dealer stock and spare parts payment deferment, amongst a host of other supports. Besides, TKM is working with its finance partners for a one-time reduction of inventory funding interest at this unprecedented situation, the statement said.

“This pandemic has financially impacted all our dealerships across India because cash inflow has become zero. Our relief package allows our dealerships to take care of liquidity issues and improve cash flow,” Naveen Soni, Senior Vice President, Toyota Kirloskar Motor, said.

Published on March 31, 2020

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