News

TOKYO – Subaru Corp. will join Japanese rivals in suspending domestic production because of the coronavirus pandemic with plans to shut its main assembly plant here from April 11 to May 1. The automaker is also extending a previously announced U.S. shutdown by eight days. Subaru’s suspension will affect its main assembly operations in Gumma
0 Comments
Penske Automotive Group said it is slashing executive pay, furloughing employees, postponing $150 million in capital expenditures and taking a range of other steps to “to help mitigate the financial and operational impact of COVID-19.” CEO Roger Penske and President Robert Kurnick will accept no salary for the duration of the coronavirus outbreak, while executives
0 Comments
The Paris auto show will not be maintained in its current form this year because of the effects of the coronavirus crisis, organizers said. The event is scheduled to run Sept. 26-Oct. 11, with media days on Sept. 29-30. Organizers stopped short of completely canceling or postponing the show, but they suggested that the traditional
0 Comments
Ford Motor Co. began testing mobile service vans at a handful of U.S. dealerships last May. After hearing from customers who appreciated the chance to get their oil changed or new brake pads installed at home or work, the automaker this year started expanding the program to 198 stores using Transit vans upfitted with basic
0 Comments
SAN FRANCISCO — On a rainy December afternoon, Anthony Levandowski sat on a stool near the front of a coffee shop, engrossed in his phone. He scrolled through pictures on a website that dares users to discern the difference between images of humans generated by artificial intelligence and actual photos of humans. For the uninitiated,
0 Comments
DETROIT — Two Ford Motor Co. workers have died from the coronavirus, the UAW said Saturday. One worked at the automaker’s Dearborn Stamping plant while the other was a skilled trades employee at the Ford Data Center in Dearborn, Mich., the union said. The pair are the first Ford employees known to have died from the
0 Comments
KAR Global will temporarily furlough a “significant portion” of its work force and company executives will cut their salaries as the wholesale vehicle-auction company works to counter the financial impact of the COVID-19 virus outbreak, it said Friday. KAR also will prohibit all business travel through April 17, terminated nonessential third-party services and delayed or
0 Comments
NEW YORK — General Motors is managing a delicate balancing act as it prepared to draw down $16 billion in credit lines while refinancing debt of similar size, facing a longer than expected shutdown of plants and considerable revenue losses. The automaker gave notice to lenders that it would borrow an existing credit facility almost
0 Comments
Asbury Automotive Group has terminated its $1 billion purchase of most of the luxury Park Place Dealerships in Texas days before the deal was scheduled to close. Asbury, in a regulatory filing, said it notified the sellers Tuesday that it was ending its transaction agreements and would pay $10 million in damages. It did not
0 Comments
Dealerships are getting some help from technology vendors to counter the financial hit brought by the COVID-19 virus, which has slowed sales and forced some showrooms to close to help limit its spread. Over the past week, dealership technology providers, vehicle listings companies and other third-party vendors said they will waive or reduce some fees
0 Comments
Automotive technology supplier Aptiv said Monday it would draw down the remaining $1.4 billion on its revolving credit facility as it builds a war chest against the economic maelstrom caused by the novel coronavirus. The company’s board also voted to suspend its dividend of about $225 million annually. With the additional funds Aptiv said it will have cash on hand
0 Comments
A coalition of trade groups representing the nation’s automobile dealers has asked President Donald Trump to clarify that certain sales and leasing activities at franchised dealerships are considered essential services during the coronavirus pandemic. In a letter sent to the White House on Monday, the group — consisting of the National Automobile Dealers Association, American
0 Comments
The “Arsenal of Health” is mobilizing. Parts suppliers for General Motors are preparing to manufacture parts for at least 200,000 ventilators in an effort to stave off a projected shortage of the machines in the fight against the deadly respiratory illness COVID-19. Meridian Lightweight Technologies Holdings Inc. of Southfield, Mich., is helping GM procure six
0 Comments
Volkswagen Group CEO Herbert Diess  warned that the coronavirus crisis may force the company to keep its factories shut for longer than initially planned. “Most of our factories are closing for two weeks, in some regions for three. It is likely that these measures will last,” Diess said in a Linkedin post on Saturday. The
0 Comments
The auto retail industry is fighting a tug of war between protecting customers and employees from the deadly coronavirus and doing its part to keep the economy afloat. Industry trade groups have been working to convince policymakers that dealerships are vital to the American economy and customers’ safety and should therefore remain open. Americans need
0 Comments
MEXICO CITY — Volkswagen will temporarily close its factories in Mexico’s Puebla and Guanajuato states amid growing worries over the spread of the coronavirus. Nearly all light vehicle production in North America is being idled for at least several days amid the crisis and its associated impact on vehicle sales. The shutdowns also will be
0 Comments
The Canadian Automobile Dealers Association (CADA) is calling for increased government support and relief from automakers and banks amid expectations that new-vehicle sales will plummet during the coronavirus pandemic. “We are in close contact with Canadian banking institutions, captive finance companies and OEMs in order to advocate for immediate relief on floor plans, mortgages and
0 Comments
Kia’s assembly plant in West Point, Ga., is set to resume production Monday after the automaker said it suspended output Thursday over supply chain issues. In addition, according to a report by WGCL-TV, five employees at the plant are self-quarantining after possible exposure to the coronavirus. In a statement obtained by WGCL, Kia Motors America
0 Comments