Hyundai announces dealer support package to maintain BS-IV inventory

Hyundai Motor India (HMI) on Tuesday announced the dealer support program for the Hyundai Dealer Care Package.

According to a document accessed by ETAuto, the package is aimed at improving cash flow and reducing dealer concerns, as the Supreme Court authorized auto dealers to sell only 10 percent of the country’s unsold BS-IV inventory. Posting a 21-day lockdown period ending April 14th. According to the package, all pending payments from the HMI to the dealer will now be credited to the new Working Dealer Bank account by April 10, 2020, so the money can be used for needed activities.

Additionally, dealer incentives will be processed in March 2020 to the normal 100 percent to 50 percent revised (relaxed) target achievement status, the company letter said. The carmaker has announced that it will offer new March benefits by March 14, 2020. Dealers’ quarterly benefits (January-March) are also calculated using March calm conditions and distributed along with March benefits.

The company waived the dates for filing Rural, H Promise and corporate claims. New dates will be announced once the lockdown opens. The company said its team works with all banks to ensure the best possible support for their dealers after the lockdown period and after the lockdown.

The Hyundai team works with its supply chain and production team to ensure the high production of on-demand models and variants to clear customer bookings. The carmaker has already issued a warranty, extended warranty and 2-month service-related service extension for vehicles that expire during the lockdown. Hyundai works with insurance companies to help dealers with upfront payments for unpaid authorization cases.

Source- Economic Times