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 […]
Coronavirus
Ford posts profit but expects loss this year
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 cuts dividend following low profits due to coronavirus
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 took government payroll benefits to offset coronavirus crisis
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 second-quarter beats estimates and sees long way for market recovery
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 sees record number of car thefts after coronavirus
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, […]
Uber offers COVID-19 contact tracing help as the cases continue to rise
Uber Technologies Inc has quietly started a service to provide public health officials quick access to data about drivers and riders presumed to have come into contact with someone infected with COVID-19, company officials said. The service, offered without any charge, could help improve the image of the ride-hailing giant, which recently started a new […]
Kia offers easy car ownership plans for customers in Philippines
As the world continues to deal with the coronavirus, the automotive industry has started to adopt “new normal” ways to promote safety and to increase sales. With the many challenges on the local economy of the Philippines, apart from the 52 percent year-on-year decline of the domestic auto industry, companies, such as Kia Philippines (Kia […]
Birdsboro Car Show Cancelled Due to Coronavirus
The 2020 edition of the annual Birdsboro Car Show annual car show, a huge event that annually attracts automobile hobbyists locally and from neighboring states, has been canceled due to the spread of the coronavirus, club President Teresa Levandoski announced. The show is a major fund-raising event for the Woman’s Club of Birdsboro, located in Berks County, […]
Daimler talks with employees amid 15,000 jobs at risk
Labour representatives at German automaker Daimler stated on Monday that discussions with management over cost reductions had become “rougher” after a board member said over the weekend that over 15,000 jobs were at risk. The auto industry has been having a hard time due to the coronavirus crisis, over which governments and automakers had to […]
Ford says restrictions at Mexico plants are ‘not sustainable’
Ford Motor on Thursday stated new staffing restrictions imposed on plants producing auto parts in the Mexican state of Chihuahua were “not sustainable,” the recent sign U.S. automakers are still reeling from coronavirus led lockdown in Mexico. Mexico is a major part of a broader international supply chain important to U.S. automakers, many of which […]
Volkswagen’s Skoda CEO Maier to step down at end of July
Bernhard Maier, chairman of Czech automaker Skoda Auto, part of the Volkswagen Group, will leave his post at the end of July after almost five years, the company stated on Thursday. Skoda, which did not provide a reason for Maier’s departure, stated a successor would be elected by the board in August. The automobile group […]
A-1 Auto Transport, Inc. Takes Steps for Safe Transport During COVID-19
As fears of a second wave of coronavirus infections have many people wondering when, or if, life will return to normal, many companies are opting to continue operations to maintain the demand of transport globally. A-1 Auto Transport, Inc. has long been a leader in the automobile transport industry, and the company is currently working […]
Footage reveals miles of unsold new cars at Dongfeng Group’s Wuhan plant
Dongfeng Motor Group, the third biggest Chinese-state owned automaker, is headquartered in Wuhan, Hubei, China. A recent footage released by The Epoch Times, a news agency founded by Chinese-Americans in the US, showed the Dongfeng’s plant in Wuhan. It can be seen that the plant has miles of unsold new cars in their plant. While […]
Fiat Chrysler resumes production at Serbia plant
Fiat Chrysler Chrysler (FCA) has resumed production at its Serbian plant, after stopping it in mid-March in response to the coronavirus outbreak, according to Tanjug news agency. The government and automakers had enforced shutdowns of factories to control the spread of the coronavirus pandemic. Due to the effects of the coronavirus outbreak on markets, FCA […]
