Due to the impact of the coronavirus on dealer partner business operations, Piaggio Group Americas reports that dealers participating in the company’s 2020 Commercial Program will receive:
- 30 days FFP additional days on March invoices
- Reflooring of ALL units in your inventory invoiced from June 1, 2019 until Dec. 31, 2019, for additional 60 days starting from April 1, 2020
To further support its network, Piaggio Group Americas announced that parts payments due to Wells Fargo Commerical Distribution Finance for the period of April-May, will be postponed by two months with the first payment due in June (i.e., April payment will be postponed to June and May payments to July).
Should dealer inventory out of FFP not be covered by the Piaggia Group’s re-flooring aforementioned, Wells Fargo CDF will still postpone interest payments due in April and May by two months with the first payment due in June (i.e. April payment will be postponed to June and May payments to July).
In addition to this, in order to support dealer cash flow needs in this particular moment, for dealers participating to the 2020 Commercial Program who will reach the wholesale target in Q1, Piaggio Group Americas will be processing Q1 wholesale bonus payments by April 3, 2020.
All dealership parts payments due to NorthPoint Commercial Finance for the period of April- July, will be postponed by four months with the first payment due in August (i.e. April payment will be postponed to August, May payments to September and so forth).
— Dave McMahon, editor