Toyota Kirloskar Motor rolls out package to support dealers amid lockdown

The package will provide necessary assistance to the dealer partners to overcome the lockdown phase, ensuring their safety and well being during these uncertainties, TKM said in a statement.
By : PTI
| Updated on: 30 Mar 2020, 09:22 PM
File photo used for representational purpose. (Bloomberg)
File photo used for representational purpose. (Bloomberg)
File photo used for representational purpose. (Bloomberg)
File photo used for representational purpose.

Toyota Kirloskar Motor (TKM) on Monday announced a package, including monetary support, for its dealers amid nationwide lockdown due to the coronavirus pandemic.

The package will provide necessary assistance to the dealer partners to overcome the lockdown phase, ensuring their safety and well being during these uncertainties, TKM said in a statement.

(Also Read: Toyota to make face masks in US to aid coronavirus battle)

The primary objective of the package is to ensure liquidity to sustain the business during the lockdown thus protecting dealer partners for around 38 to 75 days based on individual dealer overheads by giving cash flow support that will help them sail through these perilous times, it added.

Similar Cars

Find More Cars
Toyota Glanza (HT Auto photo)
Toyota Glanza
1197 cc | Petrol | Manual | 21.01 kmpl
₹7.18 - 9.45 Lakhs**Ex-showroom price
Toyota Hyryder (HT Auto photo)
UPCOMING
Toyota Hyryder
Electric
₹8 - 12 Lakhs* *Expected Price
Toyota Urban Cruiser (HT Auto photo)
Toyota Urban Cruiser
1462 cc | Petrol | Manual | 17.03 kmpl
₹8.5 - 11.4 Lakhs**Ex-showroom price
Toyota Yaris (HT Auto photo)
Toyota Yaris
1496 cc | Petrol | Manual | 17.1 kmpl
₹9.16 - 14.69 Lakhs**Ex-showroom price
Toyota Belta (HT Auto photo)
UPCOMING
Toyota Belta
1462 cc | Petrol | Manual
₹10 Lakhs *Expected Price
Toyota Innova Crysta (HT Auto photo)
Toyota Innova Crysta
2694 cc | Petrol | Manual
₹16.26 - 24.99 Lakhs**Ex-showroom price

The company's COVID package ranges from immediate settlement of any dealer claims to inventory interest subsidy for vehicles in dealer stock and spare parts payment deferment among a host of other supports, TKM said.

FOLLOW US:Stay Updated with latest content - Subscribe us on
FOLLOW US:Stay Updated with latest content - Subscribe us on

Besides, TKM is working with its finance partners for a one-time reduction of inventory funding interest at this unprecedented situation, it added.

“At Toyota, we believe that our stakeholders, dealer partners and their employees are the most important assets and their safety and wellbeing is of utmost importance to us," TKM Senior Vice President Naveen Soni said.

This pandemic has financially impacted company's dealerships across the country because cash inflow has become zero, he added. "

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," Soni said. TKM, which sells popular models like Innova and Fortuner, currently has 374 dealerships across the country.

First Published Date: 30 Mar 2020, 09:22 PM IST
Recommended For You
View All
NEXT ARTICLE BEGINS

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city
By clicking VIEW OFFERS you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city