Earlier this month the UK Government escalated its response to the Covid-19 pandemic with the introduction of tougher restrictions and a 3rd National Lockdown.
We understand the significant pressure and disruption that this is likely to cause your business and we want you to know that we continue to be committed to supporting you as much as we can.
With immediate effect, all vehicles scheduled for full payment at the end of an agreed stocking period on a MotoNovo stocking plan will be renewed for an additional 60 days automatically. Delaying the need to make such payments, will help dealers to preserve much-needed cashflow.
Our online reservation tool, launched during the pandemic to help dealers, continues to prove ideal in supporting dealers’ Click & Collect/Click & Deliver services. Its availability free-of-charge is now being extended until the end of March.
Commenting on the moves, Deputy CEO Karl Werner notes; “These two steps can, we hope, make a useful contribution to our dealers in these challenging times. For us, being a good partner is a long-term commitment. As our record of dealer centricity demonstrates, supporting the dealer community as a finance company is more than the current proposal. Empathy, collaboration and innovation are crucial components, never more so than through the unprecedented experience of the current pandemic.”
The Government have also released a number of support packages available to UK businesses offering loans, grants and rebates. Take a look at what your business could be entitled to here or visit your local Government website for the latest information. In addition to these, the Government also launched a new ‘one-off top up’ grant this month to support retail businesses and protect jobs during the current lockdown.
Not only is this a difficult time for our dealers, but our customers too. We’re offering a 3 month payment deferral for those who have been financially impacted by coronavirus. Our Customer Services team are working hard to answer all our customer calls, emails and social media queries to support our customers through this time. We’ve set up a Coronavirus Support Centre for customers with tips on budgeting, fraud awareness and Government support.
We’re also leading dealers through recovery with our dedicated dealer resource hub filled with the latest guides, tips and resources to support you through 2021 and beyond. Stay safe and secure with our guide to fraud beyond lockdown and get ready to sharpen the saw with our latest tips on managing your cashflow. While a date for reopening your doors hasn’t yet been set, you can still be fit and ready for when the time comes by redefining your customer experience and ensuring your dealership meets the new safety standards.
We may not know what lies ahead, but we will get through it together. Our top priority has and always will be our teams, dealer partners and customers. The past year provided a challenging backdrop, but embracing change positively is the critical factor to lead us through recovery in 2021.
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