by Paul A. Eisenstein | Mar 26, 2020
This story has been updated to reflect Fiat Chrysler Automobiles’ announcement on its plant closings. Toyota will resume production at “all of its automobile and components plants in North America, including Canada, Mexico and the U.S.” on April 20, the...
by Paul A. Eisenstein | Mar 26, 2020
Just days after saying it would miss an earlier March 30 deadline, Ford Motor Co. now says it is “aiming” to reopen some of its “key” North American plants as early as April 6. Ford, along with virtually all automotive manufacturers, began shutting down its...
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 Paul A. Eisenstein | Mar 23, 2020
U.S. car sales are grinding to a halt, demand expected to be off by around 40% for March overall and as much as 60% in April, according to analysts – but despite the pandemic-led slowdown, automakers are continuing to run big-buck advertising campaigns. “Automotive ad...
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 Paul A. Eisenstein | Mar 20, 2020
The coronavirus epidemic is having a drastic impact on the auto industry, manufacturers largely shutting down their North American production operations through at least March 30, even as sales are expected to drop by more than half next month. But buyers are also...
