by Paul A. Eisenstein | Apr 29, 2020
Ford Motor Co. is cancelling plans to develop an all-electric SUV for its Lincoln brand as part of a joint venture with EV start-up Rivian due to the coronavirus pandemic. The Lincoln EV is one of at least two product programs that Ford confirmed it has had to rethink...
by Joseph Szczesny | Apr 29, 2020
With the economy closed from coast to coast, ALG Inc. analysts are predicting that sales of new vehicles will decline by more than 50% in April to their lowest points in 40 years. ALG, a subsidiary of TrueCar Inc., expects total new vehicle sales will reach 638,092...
by Michael Strong | Apr 28, 2020
Ford Motor Co. reported a first quarter net loss of $2 billion as the automaker – like many others – grappled with the impact of global coronavirus pandemic, noting it had a negative impact of “at least” $2 billion during the period. The company’s...
by Michael Strong | Apr 28, 2020
As automakers scramble to try to find ways to stem expected losses due to the impact of the coronavirus pandemic, Nissan officials revealed the company is likely to post its first full-year operating loss in more than a decade. The automaker, which is in the midst of...
by Paul A. Eisenstein | Apr 28, 2020
(This story has been updated to show Honda is now set to open its U.S. plants on May 11.) Yet again, Detroit’s Big Three automakers are planning to push back their launch of production as the country slowly begins to emerge from the lockdown created by the coronavirus...
by Joseph Szczesny | Apr 28, 2020
Smart cities, in theory, can be an ecosystem of technologies that use data and analytics to manage assets and resources more efficiently with user-specific applications that could enhance public safety. Some advancements in this sector are already playing a huge role...
by Michael Strong | Apr 27, 2020
General Motors’ earnings dropped in 2019 and so did those of Chairman and CEO Mary Barra, who saw her total compensation fall 1.1% to $21.6 million. The total value of Barra’s package was revealed in a filing with the Securities and Exchange Commission Monday, ahead...
by Paul A. Eisenstein | Apr 27, 2020
Even as it prepares to restart its U.S. assembly lines, General Motors is taking a series of urgent steps to reduce the impact of the coronavirus pandemic on its balance sheet, among other things halting its dividend while also suspending its stock buyback program. It...
by Michael Strong | Apr 24, 2020
The decline in new vehicle sales due to the coronavirus pandemic isn’t just a problem for automakers’ bottom lines. The full stop on sales is taking its toll on the used car market as well, causing prices to fall precipitously. When the country enters tough economic...
by Joseph Szczesny | Apr 24, 2020
General Motors is taking some tentative steps to reopen its North American plants, recalling the skilled trades and management employees they need to return to work next week to help prepare to restart production. In a message to affected UAW union members, the...
by Paul A. Eisenstein | Apr 23, 2020
Toyota will begin the slow process of restarting U.S. manufacturing operations on May 4, the company confirmed, a process company officials stressed will focus first on creating “a safe environment for our workers,” and only then push to bring production back up to...
by Michael Strong | Apr 23, 2020
Three automakers are still assessing how their truck production will be impacted as BorgWarner, a supplier of transfer cases, works to determine how long it will take to restart operations at a South Carolina plant damaged by a tornado last week. The automakers –...
