Some auto companies to reimburse distributors for losses
A number of automotive companies are planning to reimburse distributors for losses that resulted from recent promotions that saw the likes of GB Auto, Nissan and Kia slash prices. The reimbursement will be based on an average price paid in quarterly instalments to distributors that incurred losses as a result of purchasing at significantly higher pre-promotion prices. The article added that distributors that had refused monthly car stocks in protest of escalating prices will not be eligible for the move.
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