Automotive News is reporting that BMW is offering a relief program for US dealers. The program is intended to support dealers’ cash flow and keep them solvent as the coronavirus sweeps through the nation.
The program includes various incentives, a new, less aggressive set of performance objectives, and loan payment relief.
Reportedly BMWNA CEO Bernhard Kuhnt told dealers what they are facing is “unprecedented”. He went on to say that, “Safeguarding our business and the … retail network, while helping to ensure that you have the necessary support and working capital to navigate this uncertainty, is our primary focus.“
According to Automotive News, dealers will receive a $1,000 payout on every new vehicle sold and a $500 bonus for every loaner retailed in March. The CPO sales bonus is also guaranteed for this month.
Through June 20, retailers will receive the 5 percent Added Value Program bonus related to meeting training, sales loyalty and service effectiveness goals.
Customers whose leases are due will be offered a complimentary 30-day lease extension until April 30.