Ford Motor which operates two auto plants in Germany, has applied for 500 million euros ($586.79 million) of German loan guarantees aimed at seeking protection against the impact of the COVID-19 pandemic, business daily Handelsblatt reported on Monday. While Germany has provided coronavirus-related aid to companies such as auto parts supplier Leoni. Ford would be […]

Over 6.5 million Americans have contracted the coronavirus since the start of this global pandemic. Wearing a mask and abiding by social distancing rules are something most people are passionate about. Doing whatever you can to slow the spread of this dangerous disease is crucial. Most people spend a lot of time in their car, […]

German Chancellor Angela Merkel on Thursday said German government’s coronavirus relief package contained a lot of help for the automobile industry of the country after her conservative CSU allies renewed a proposal for incentives for petrol cars. Germany has a multi-billion-euro recovery plan to spur clean driving, with incentives for electric vehicles. But the government this year has rebuffed the auto […]

Daimler was set on Wednesday to release the new model of its Mercedes-Benz S-Class luxury sedan, which it hopes will help the German automaker to get back to profitability next year after the coronavirus crisis slashed demand for high-end vehicles. Daimler has released a new S-Class every seven years for decades but this year’s launch […]

Ford Motor said on Wednesday it is moving forward to eliminate 1,400 U.S. salaried jobs by year end as part of a multiyear $11 billion restructuring. The layoffs will be attained through voluntary buyouts, the automaker said in an email sent to workers. The buyouts will be offered to workers who are qualified for retirement. […]

Toyota Motor on Tuesday reported a 23% decline in U.S. new vehicle sales in August against the same month in 2019, as a two-month industrywide shutdown of auto production in the spring to stop the spread of COVID-19, along with uncertain economic recovery, weighed on sales. This was Toyota’s fifth straight month of U.S. sales […]

General Motors and Ford Motor said on Tuesday they are close to finishing the production of ventilators ordered by the Trump Administration in response to an increase in coronavirus cases and are ramping down or exiting the operations. Many of the ventilators assembled by the companies have gone into a U.S. government stockpile as doctors […]

Japanese automaker Honda Motor on Wednesday forecast a 68% decline in annual operating profit to a 10-year low with worldwide demand for cars expected to slide due to the coronavirus crisis. The country’s No. 3 automaker expects profit to decline to 200 billion yen ($1.89 billion) in the year to end-March 2021, its weakest since […]

Ferrari has trimmed its full-year earnings forecast on Monday following the decline in second-quarter income of about 60% because of the impact of the coronavirus crisis but said orders were “very strong,” sending the luxury automaker’s shares increased almost 4%. Chief Executive Louis Camilleri informed analysts that last quarter’s order book was up double digits […]

Ford Motor said on Friday it had won approval to defer some quarterly payments due on its U.S. Energy Department retooling loan but also said that it will repay the loan on time by June 2022. In September 2009, Ford was granted a $5.9 billion low-cost government loan, an important source of liquidity following the […]

Ford Motor on Thursday said it expects a full-year loss but also said that it should have enough cash on hand throughout the rest of this year, even if global demand drops further or the coronavirus crisis results in more shutdowns of vehicle assembly plants. The automaker also said that on July 27 it repaid […]

Volkswagen reported a second-quarter operating loss on Thursday as vehicle deliveries declined by nearly a third because of the coronavirus crisis, forcing the German automaker to slash its dividend despite a gradual rebound in demand. The multi-brand car and truck maker predicted a major drop in full-year sales, even though it stated that it was […]

Tesla Inc got payroll-related benefits from the government in the first half of this year to help decrease the impact of the coronavirus crisis on its business, the electric automaker said in a filing on Tuesday. The company, whose CEO Elon Musk has voiced against further government aid as Congress debates another round of stimulus, […]

Hyundai Motor reported a drop in profit on high-margin domestic sales but less than what was expected. The automaker said that while demand should pick up soon, the pace of recovery will be slow because of the impact of the coronavirus pandemic. The automaker which together with sister company Kia Motors is the world’s fifth-largest […]

Los Angeles is experiencing a record number of car thefts during the second quarter of 2020, according to the latest analysis. Data reveals the period between April and June observed more thefts than any other time since the Los Angeles Police Department started providing information to the public. During those months, 5,744 vehicles were stolen, […]