Amidst the on-going coronavirus outbreak, TKM or Toyota Kirloskar Motor has recently announced that the company will help and support the interested of its dealers, service partners and employees with a sustenance package under which TKM will assist its dealer partners to overcome the current on-going lockdown phase while also ensuring their safety and well-being at the same time.
The announced Coronavirus relief package has been designed after carefully calculating the average dealership’s fixed cost and customised internal processes. The primary objective for TKM si to currently ensure liquidity in order to sustain the remaining business during the lockdown period. This designated package will also protect the dealers and partners for approximately 38 to 75 days based on the designated dealer’ or partners overheads.
Read more: Coronavirus Effect: Yamaha India Extends Warranty and Service Period
The package will range from vehicle inventory subsidy to settlement related to any dealer claims to spare parts payment deferment. Additionally, Toyota Kirloskar Motors is also working rigorously with all of its finance partners for its one-time reduction of inventory funding interest during the on-going Coronavirus outbreak.
Suggested Read: TVS Announces 30 Crore Package To Fight the Coronavirus Pandemic
Speaking on this initiative, Senior Vice President, Toyota Kirloskar Motor, Naveen Soni, 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 announced 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.”
Must Read: Hyundai Motors India orders Coronavirus testing kits from South Korea
