by Michael Strong | Jul 1, 2020
The extended run up of Tesla’s stock carried it past its Detroit rivals some time ago, but the push into its current territory above $1,000 a share has helped it topple the “king” – Toyota – as the world’s most valuable automaker. The move could be seen by many,...
by Joseph Szczesny | Jul 1, 2020
Car sales plunged across the board during June, capping off the auto industry’s worst quarter in decades as the economic shutdown brought on by the pandemic battered sales of new vehicles in the U.S. General Motors said its sales dropped 34% in the second quarter...
by Paul A. Eisenstein | Jul 1, 2020
The game is about to change for the North American auto industry as the new USMCA trade pact officially goes into effect. Formally known as the U.S.-Mexico-Canada Agreement, it replaces NAFTA, the three-nation deal that had encouraged the development of an essentially...
by Joseph Szczesny | Jul 1, 2020
The United Auto Workers and the U.S. Attorney’s office in Detroit will continue to discuss ways to reform the union in the wake of the initial meeting between UAW President Rory Gamble and Matthew Schneider, the U.S. attorney for the Eastern District of Michigan. The...
by Michael Strong | Jun 29, 2020
Automakers continue to find ways to try to become part of social change as Ford Motor Co. is pausing all advertising on social media platforms in the U.S. for the next 30 days, calling for an end to hate speech and other racially insensitive actions there. The...
by Paul A. Eisenstein | Jun 29, 2020
There will be no Geneva International Motor Show next year, organizers pointing to concerns that the coronavirus pandemic could drag on into 2021. The annual Swiss gathering was the first car show of the year to be canceled due to the eruption of the coronavirus...
by Paul A. Eisenstein | Jun 29, 2020
(This story has been revised to note the correct number of CarMax employees.) About 300,000 employees at U.S. franchised dealerships were terminated or furloughed due to the coronavirus pandemic. While some have returned to work as retail sales rebound, the crisis is...
by Michael Strong | Jun 29, 2020
Automakers have been looking for ways during the pandemic to bolster the confidence of wary potential buyers who are worried they could get a new vehicle then lose their job and be stuck with a payment they can no longer afford. Ford is the latest looking to assuage...
by Paul A. Eisenstein | Jun 29, 2020
Dodge is expected to continue its transformation from mainstream to muscle as it moves into the 2021 model-year, a strategy it directly hints at with a new teaser video it is releasing today. Exactly what might be in store is uncertain, though there is widespread...
by Michael Strong | Jun 26, 2020
Anyone wondering if U.S. auto sales would experience a June swoon after two months of improving results can put those thoughts out of their heads, according to three prominent automotive consultancies. J.D. Power and LMC Automotive revealed they expect sales will be...
by Paul A. Eisenstein | Jun 26, 2020
Amazon has made no secret of its interest in switching to a fleet of self-driving delivery vehicles, and after announcing the order of 100,000 battery trucks last year, it is taken a critical step towards filling in the next piece of the puzzle with today’s...
by Joseph Szczesny | Jun 25, 2020
After lengthy negotiations, Fiat Chrysler Automobiles. N.V. locked down a $7.1-billion loan backed by the Italian government to help in weather the pandemic, which has upended economic activity throughout the world. The loan money was directed to FCA Italy, a wholly...
