by Joseph Szczesny | Apr 6, 2020
Daimler AG lined up a new multibillion-dollar line of credit and tapped the bond market for 1.5 billion euros to help weather the coronavirus pandemic that has brought the global economy to a halt. The German automaker announced it increased its financial flexibility...
by Paul A. Eisenstein | Apr 3, 2020
As bad an impact as the coronavirus pandemic has had on the auto industry already, things are likely only to grow worse in April and possibly, beyond, three leading analysts concluded during a webinar on Friday. Virtually nothing connected to the industry will escape...
by Michael Strong | Apr 3, 2020
As the auto industry enters uncharted sales waters courtesy of the current pandemic, finding ways to get potential buyers into new vehicles – or back into vehicles in the case of leasing – is more critical than ever. New vehicle sales in March dropped in the mid-40%...
by Michael Strong | Apr 2, 2020
In another sign of the automotive industry actively pitching in to help battle the coronavirus pandemic, General Motors started training employees to produce ventilators at its components plant in Kokomo, Indiana. GM is partnering with Seattle-based Ventec Life...
by Paul A. Eisenstein | Apr 2, 2020
General Motors and Honda are expanding existing ties, teaming up to develop new battery-electric vehicles the Japanese automaker plans to add to its line-up for the 2024 model-year. Honda will bring two new all-electric models to market, it announced late Thursday,...
by Joseph Szczesny | Apr 2, 2020
The second round of sales reports confirmed March was an awful month for automakers in the U.S. and things don’t look to be any better in April. Ford Motor Co. reported sales dropped 12.5% and sales of the F-150 pick-up truck were down even more, falling 13.5%....
by Paul A. Eisenstein | Apr 2, 2020
Global petroleum prices plunged by more than half last month, with prices at the pump falling to levels not seen in years – but crude oil is showing an unexpected rebound, raising the prospect that the numbers could be ready to bottom out. Brent crude, a global...
by Joseph Szczesny | Apr 2, 2020
Nissan will keep its manufacturing and assembly plants in Tennessee and Mississippi shuttered until the end of April, although the company but did not specify a specific date. Volkswagen of America also announced it was pushing back the date it plans to resume...
by Paul A. Eisenstein | Apr 1, 2020
The U.S. new car market has had the bottom drop out, as was widely expected as the coronavirus pandemic spread across the U.S. in March, but the outlook going forward is far more bleak than was forecast as recently as a week ago. April sales are now expected to be off...
by Joseph Szczesny | Apr 1, 2020
A good start to vehicle sales in January and February ended abruptly in mid-March as carmakers reported sales dropped precipitously as state and local officials shut businesses and put social distancing measures in place in response to the coronavirus pandemic....
by Michael Strong | Apr 1, 2020
For those thinking that the Federal Reserve’s move to essentially cut the interest rate to zero last month would be a boon to those in the new vehicle market due to anticipated rise in low-interest and zero-percent loans, March was a disappointing month. The average...
by Paul A. Eisenstein | Mar 31, 2020
The White House on Tuesday formalized plans to roll back fuel economy standards set during the Obama administration, a move expected to substantially lower the mileage the typical new vehicle will deliver by 2025. What the administration is calling the “Safer...
