Coronavirus pandemic: Toyota extends sustenance packages to dealer partners

Amidst the Coronavirus pandemic, Toyota Kirloskar Motor has announced the ‘COVID Package’ to support and protect the interests of its dealer partners and associates. This sustenance package will assist the dealer partners to overcome the lockdown phase while also ensuring their safety and well-being during these testing times.

The ‘COVID Package’ is designed after carefully evaluating a dealerships’ fixed cost and customised internal processes, thus allowing them optimum utilisation of the benefits. The primary objective is to ensure liquidity in order to sustain the business during the lockdown. This package will protect dealer partners for approximately 38 to 75 days based on the dealer’ overheads. 

The package ranges from vehicle inventory interest subsidy to immediate settlement of any dealer claims to spare parts payment deferment. What’s more, TKM is also working with its finance partners for a one-time reduction of inventory funding interest during this hour.

Speaking about the unique initiative Naveen Soni, Senior Vice President, Toyota Kirloskar Motor said, “At Toyota, we believe that our stakeholders, dealer partners and their employees are the most important assets and their safety and well-being is of utmost importance to us. This pandemic has financially impacted all our dealerships across India because cash inflow has become zero. While the Government has announcement several relief measures including moratoriums, we have also studied the fixed cost expenses of dealerships and have come up with a relief package called the COVID package to assist in maintaining liquidity to improve cash flow. We hope to emerge stronger from this crisis, together.”