Cox Automotive Canada announced a series of discounts and savings for dealers during the COVID-19 crisis and set up a special COVID-19 page on its website to help dealers keep track of the company’s evolving response to the crisis. The company is offering savings for dealers for several of its products including Dealer.com, Dealertrack Digital Retailing and NextGear Capital.
“With health and safety as our top priority, the Cox Automotive family of brands is also committed to partnering with clients to keep the automotive marketplace up and running. As we navigate this unprecedented time, our leadership team understands that we have the unique opportunity to assist with some of the issues our clients may currently be facing,” said the company in a statement.
Cox Automotive Canada said its employees are working at home until May 1, 2020, and have equipped their teams to be able to continue to provide support to dealers during the crisis.
In terms of help for dealers, the company announced a 50% discount on their retail solutions products: Dealer.com websites and Dealertrack Digital Retailing for April and May 2020.
The company says the discount applies to subscription fees, and that if any DMS provider lowers or waives their fees to Cox Automotive Canada, then they will pass the entire savings along to dealers.
Another of the company’s brands, NextGear Capital will provide the following additional benefits for 30 days for dealers in good standing:
- Base Rate Reduction by 50 Basis Points;
- Deferred Repayment for Eligible Floorplan Advances: Curtailments & Extensions;
- No Late Fees, Collateral Audit Reconciliation or First Extension Fees; and.
- No Full or Partial Waiver Fee tied to Curtailments or Extensions.
These updates are as of March 24, 2020. For future update visit:
https://coxautoinc.ca/covid-19.
