by Paul A. Eisenstein | Mar 27, 2020
The Sunset Auto Family in Sumner, Washington, has long been that state’s biggest Chevrolet dealer, with a staff of 270 on the sales floor, service shop and back end operations. But owner Bill Mitchell this week had to lay off 200 of those employees as his sales...
by Joseph Szczesny | Mar 27, 2020
General Motors Co. is following Ford Motor Co.’s lead, temporarily cutting the pay of high-ranking executives and salaried employees as part of the company effort to conserve cash during the sharp economic downturn created by the spread of deadly COVID-19 virus. Auto...
by TDB Staff | Mar 26, 2020
Affiliate Disclosure x The Detroit Bureau and its partners may be compensated if you purchase the recommended services. This allows us to provide in-depth research at no cost to you. CARCHEX and CarShield are two of the most popular extended warranty...
by Joseph Szczesny | Mar 26, 2020
Standard & Poor’s cut Ford Motor Co.’s credit and unsecured debt ratings to junk territory, trimming the company’s rating to BB+ from BBB-, while Moody’s, another major credit-rating service, placed the credit rating of General Motors Co. and Fiat Chrysler...
by Michael Strong | Mar 25, 2020
This story has been updated with additional information. The quick decline of new vehicle sales in March has unexpected silver lining for two of the Detroit Three automakers: a jump in market share for the first quarter. Edmunds.com analysts believe that March auto...
by Joseph Szczesny | Mar 25, 2020
In a sign of the financial stress facing automakers, General Motors Co. disclosed it plans to draw $16 billion from its revolving credit lines, taking what it described as austerity measures. GM Chairman and CEO Mary Barra described the $16-billion drawdown as a...
by Michael Strong | Mar 24, 2020
Automakers are dealing with the impact of the coronavirus pandemic on multiple fronts, including the increasing decline in sales. However, they’ve moved quickly, offering improved financing offers for potential buyers and now we’re seeing some maker’s offering...
by TDB Staff | Mar 24, 2020
Affiliate Disclosure x The Detroit Bureau and its partners may be compensated if you purchase the recommended services. This allows us to provide in-depth research at no cost to you. Every year, millions of dollars are spent on extended warranties. Before...
by Joseph Szczesny | Mar 24, 2020
With Congress debating a trillion-dollar stimulus package to help the U.S. economy weather the COVID-19 outbreak, analysts are warning the ongoing economic slowdown is now certain to sink the auto industry. ALG, a subsidiary of the car-buying service TrueCar, updated...
by Joseph Szczesny | Mar 23, 2020
General Motors, Ford and Fiat Chrysler, with the approval of the United Auto Workers, have asked for volunteers from among blue-collar employees to keep their parts warehouses all across the country during the unfolding pandemic. All three automakers have shuttered...
by Michael Strong | Mar 20, 2020
The coronavirus pandemic has caused major disruptions across the U.S. for automakers and the lives of those working for car companies not to mention those who own or are seeking to own vehicles. Thus far, automakers have taken a two-pronged attack when it comes to...
by Michael Strong | Mar 20, 2020
Perhaps the most-anticipated Chevrolet Corvette ever, the new C8 Stingray, is no longer available — to be ordered. The company stopped taking orders for the 2020 model March 18, due to overwhelming demand combined with a strike-induced delay on getting the Bowling...
