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Porsche offers U.S. dealers relief package

1 min read

ATLANTA — Porsche Cars North America is offering its 192 U.S. dealers a relief package as the auto industry reels from a business slowdown amid the coronavirus pandemic.

The sports car maker is guaranteeing payouts, relaxing dealer performance bonus objectives and extending finance.

It is similar to dealer-focused plans instituted by BMW, Mercedes-Benz, Nissan and other automakers.

Porsche dealers are guaranteed their marketing and customer satisfaction bonus for the first half of the year, even if they don’t meet qualifying objectives.

To buoy retailer bottom lines, Porsche’s Floorplan Assistance Program will cover a “large portion” of vehicle inventory costs for 60 days.

Dealers will receive an undisclosed flat fee to help with the cost of any new vehicle home delivery through April 30. The number of vehicle home deliveries is expected to increase as customers stay home to avoid the coronavirus.

Dealers may return off-lease cars instead of keeping them for the Certified Pre-Owned program. Mandatory internal reporting requirements in areas such as warranty work have also been lifted.

Finance captive Porsche Financial Services is also offering assistance to retail customers.

PFS is offering up to six-month extensions on lease contracts scheduled to end by April 30, four months longer than the regular extension period.

The finance captive will also consider 30- to 60-day lease payment deferrals, on a case-by-case basis.

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