Hero MotoCorp, the world largest two-wheeler company has recently announced a financial package for its dealer partners named as Robust and Comprehensive. The company stated that this will help the dealer partner improve their profitability and liquidity situation in this coronavirus outbreak.
This is the time when most of the automotive dealers are facing a severe loss. This is all due to the lockdown by the government for the benefit of the people.
According to multiple Hero dealers: This support package by the Hero MotoCorp will be transformational in these extraordinary times.
This new support will transform a higher margin per vehicle for the dealers. An email is sent by Navin Chauhan (head of sale and after-sale at Hero MotoCorp) to all the dealers. In the email, the package support is communicated to the dealers. This package will be effective from May 1 and include a new pricing structure on new products. It will also provide financial support for the interest of dealer stock. They are also providing financing options which will be convenient for dealers. This will be provided by Hero FinCorp. Hero FinCorp is a Hero MotoCorp retail finance arm.
As per the dealers, this package will provide higher margin which will be beneficial for the dealers at this time when all the shops and outlets are shut down for over a month of lockdown.
On April 21, 2020, in a video conference, Pawan Munjal Hero Chief had stated that all the dealers will be given support in these tough situations caused by a coronavirus outbreak.
The company also said that after the lockdown will be over, it has also come up with a plan of re-opening of business all over the country.
The company is thinking about all the dealers as they are at a loss in this extraordinary time.