Porsche North America is trying to look after its 192 U.S. dealers by offering them a relief package in order to compensate for the current sales slowdown caused by the coronavirus pandemic.
The German carmaker is guaranteeing payouts, relaxing dealer performance bonus objectives and extending finance, which is something other manufacturers have done as well, such as BMW, Mercedes, Nissan and more, reports Autonews Europe.
Porsche dealers are now guaranteed their marketing and customer satisfaction bonus for the first half of this year, even if they won’t meet the qualifying objectives.
Dealers will receive an undisclosed flat fee through April 30, which will help with the cost of any new vehicle home delivery. Speaking of which, home deliveries are expected to increase exponentially as customers practice social distancing by not leaving their house.
Furthermore, dealers can return off-lease cars instead of keeping them for the Certified Pre-Owned program, with mandatory internal reporting requirements (such as warranty work) being lifted.
Then there’s Porsche Financial Services, which is offering assistance to retail customers in the form of six-month extensions on lease contracts scheduled to end by April 30th – four months longer than a regular extension period. The finance branch will also consider 30 to 60-day lease payment deferrals, on a case by case basis.
As for actual sales, current reports indicate that e-commerce (online) numbers will go up, as showroom traffic begins to slow, or in some cases stop. According to Moody’s Analytics, the new and use vehicle markets could register 20% drops this year, compared to 2019.