Nissan says it will help its Canadian customers and dealers through the global novel coronavirus pandemic.
Without disclosing dollar amount, the company said it has different plans for the two groups.
“Nissan Canada Finance (NCF) will provide payment rescheduling arrangements on a case-by-case basis,” Nissan Canada spokeswoman Jennifer McCarthy said in an email to Automotive News Canada. “Nissan Canada Finance is suspending inventory curtailment payments for eligible dealers, and will implement a cash-flow assistance plan for mortgage loans through interest-only payments for up to six months.”
McCarthy said the situation evolves daily.
“Nissan Canada and Nissan Canada Finance are working closely with the dealer council members to ensure a collaborative approach to managing through this crisis, keeping the focus on sales and service customers,” she said.
By comparison, Nissan in the United States is offering the following assistance to dealers:
For the month of March, dealers will be guaranteed a US$375 bonus per vehicle sold, according to a letter to dealers obtained by Automotive News in Detroit. Finance captive Nissan Motor Acceptance Corp. is lowering its dealer floorplan rates. Qualifying dealers also will be able to apply for the cash-flow assistance program, which allows six months of interest-only payments on existing mortgages and capital loans.