For March, dealers will receive a $1,000 payout on every new vehicle sold and a $500 bonus for every loaner retailed. The CPO sales bonus is also guaranteed for this month.
Through June 20, retailers will receive the 5 percent Added Value Program bonus related to meeting training, sales loyalty and service effectiveness goals.
Dealer payments, including principal and interest, on floorplans, capital loans, mortgages and other commercial borrowing will be deferred for 90 days, if requested by the dealer.
The BMW plan also includes financial relief for customers.
Finance captive, BMW Financial Services will defer customer loan payments until June 30.
Customers whose leases are due will be offered a complimentary 30-day lease extension until April 30.
The initial goal of BMW’s relief package is to “secure operational stability” so dealers can continue to deliver sales and service, Kuhnt said.
“We are concentrating on supporting the … network’s concerns over dealer cash flow,…