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via Autonews:

Porsche offers U.S. dealers relief package

March 25, 2020

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 do not 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.
 

Reg

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That certainly sounds like a great program and it is good that it has happened so quickly.
 

refazi

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Hopefully they will also offer competitive lease with market price MF... their money factor is usually crazy high,
 

tnikolov

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That certainly sounds like Porsche AG is having serious troubles... :/
 

GreggT

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That certainly sounds like Porsche AG is having serious troubles... :/
Not sure I'd say they are having 'serious problems' however I'm sure they are looking back at their market projections from 3 months ago and wishing they could turn back the clock. My sympathies because how can a company invest $5-7B in a new effort....and have adequate contingencies for 'this'.
On the other hand, other manufacturers would give their eye-teeth to have a deposit list like Porsche had before the 1st car was built.
Now in the board room they are probably plotting scenarios for loss of 8, 12, 15% of those.
 

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