Mazda Approves $20 Million for Reimbursing US Dealers
Mazda is one of the first companies that decided to help its dealers and today announced a $20 million package for the ones who are still waiting for the US government’s money. The payments will be made 20-40 days earlier than anticipated to help improve the cash flow of dealers, Mazda said in a release today.
"Mazda is committed to supporting our dealer body and doing whatever is feasible to make them successful," said Jim O'Sullivan, president and CEO, MNAO. "The early cash flow will support our dealers who are benefiting from the sales related to the Cash for Clunkers program and have yet to receive funds from the government. This will give them the confidence and ability to succeed through the end of the program on Monday."
As for the way the CARS program influenced Mazda’s sales, the Japanese carmaker posted a high boost in sales, with Mazda3 accounting for nearly 59 percent of all Mazda models sold through the scheme.
"We're obviously very pleased by the sales improvement the Cash for Clunkers program has provided. Just as exciting is the positive environmental impact it's having. Our dealers are reporting that cars like the MAZDA3, which gets up to 33 miles per gallon on the highway, are replacing vehicles that in some cases don't make one third of the mileage," said O'Sullivan.