Carsales is waiving fixed and variable advertising fees for the month of April in a support package for Australia’s car, bike, boat, truck, RV and machinery dealers.
The move will contribute to reducing dealers’ short-term operating costs during the coronavirus pandemic.
Carsales will also allow its customers to defer payment of their March advertising costs by 30 days.
The company last week withdrew its profit guidance for the full year, saying it's "not possible" to predict the impact of the coronavirus on buying and selling.
"Australian businesses big and small are facing significant challenges and restrictions during this period,” Carsales CEO Cameron McIntyre says.
“We are committed to supporting our dealer customers - our fee waiver and payment deferral will substantially assist dealers in maintaining an active presence in the marketplace during this challenging period."
Carsales will also encourage dealers to use new services such as video ads that provides dealers with the opportunity to create a virtual showroom experience for consumers.
McIntyre says customer service remains a priority and the business will continue to create updates and advice to assist both consumers and the industry.
“In this challenging period, our thoughts are with our dealer partners and their teams both here in Australia and in all of our international markets,” McIntyre says.
“This is a very serious situation for the wider region but we’re approaching it with clear heads and in the knowledge that the Australian economy and business fundamentals, while acutely challenged, will begin to recover at some stage over the coming months.
“Carsales has implemented these measures to support our customers, given they are key stakeholders of our business and have supported us over the last 20 years.
“We have a strong balance sheet and prudent gearing, which positions us well to provide this support and deal with this challenging environment.”
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