Kia Motors Extends Support To Dealers During Lockdown
The South Korean carmaker plans to ease the monetary pressure on its dealer partners during these testing times
Kia Motors has decided to extend a helping hand to its dealer partners who are incurring mounting losses due to the lockdown caused by COVID-19. The help is majorly financial as the shutting down of shops has resulted in cash burn and complete loss of footfall for the dealers. Kia’s aid includes the following:
Support on inventory: Kia will help with interest cost on dealer stock by including vehicles in the inventory as well as transit.
Returning inventory funding amount: The unused amount that the dealers parked with Kia to deliver new cars has been refunded to the former’s account. This is only natural as manufacturing has been stopped and demand is almost nil at the moment.
Warranty and NVI claims: Payments of all the accepted service claims for warranty have been made to the dealers.
Extended warranty payments: Amount for additional warranty claims by customers has been paid to the dealers. Moreover, Kia Motors assures priority clearance of the remaining amount within 15 days once the lockdown ends.
As of now, Kia Motors is counting on online bookings and delivery of cars with minimal physical interaction. It had recently extended the official warranty on cars by two months.
Kia Motors has more than 100 car dealers across the country. Last year, during the launch of its first product for India, the Seltos, Kia announced its plans of having 192 service centres in India across 160 cities.
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