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March 29, 2020

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2020 Detroit auto show canceled due to coronavirus

CNBC
by CNBC06
CNBC – For more and to sign up click here The Ford Motor Co. Mustang Shelby GT500 vehicle is displayed during the 2019 North American International Auto Show (NAIAS) in Detroit, Michigan,. Daniel Acker | Bloomberg | Getty Images The 2020 Detroit auto show has been canceled as its venue......
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CNBC Business

BMW M850i is a competent choice but fails to commit to one personality

CNBC
by CNBC00
CNBC – For more and to sign up click here 2020 BMW M850i Gran Coupe Source: BMW With an ever-expanding series of products that fill every niche, BMW should have one of the most well-rounded lineups in the automotive world. The company offers family SUVs, stripped out sports cars, and......
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Reuters - Business

Factbox: Carmakers churn out machines, masks to help fight coronavirus

Reuters
by Reuters04
(Reuters) – Auto companies and suppliers around the world are ramping up production of critical healthcare products and machines – everything from cloth face masks to sophisticated ventilator systems – to meet a critical shortage of those items at hospitals and care facilities in North America, Europe and Asia. Here......
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CNBC Business

Trump orders General Motors to make ventilators under Defense Production Act

CNBC
by CNBC01
CNBC – For more and to sign up click here President Donald Trump has ordered General Motors to make ventilators under the Defense Production Act hours after criticizing the company for not acting quickly enough to produce the devices amid the coronavirus pandemic.  The Korean War-era statute can force certain American......
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CNBC Business

GM temporarily cuts pay by 20% for 69,000 salaried workers amid coronavirus pandemic

CNBC
by CNBC010
CNBC – For more and to sign up click here General Motors told about 69,000 salaried employees globally on Thursday that it will temporarily cut 20% of their salaries as the automaker attempts to save cash amid the coronavirus pandemic. The reduced pay, which will begin April 1, will be......
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Reuters - Business

U.S. auto sales in states with coronavirus lockdown orders to drop 80%: analysts

Reuters
by Reuters07
FILE PHOTO: Automobiles for sale are seen at Serramonte Volkswagen in Colma, California, U.S., October 3, 2017. REUTERS/Stephen Lam (Reuters) – Vehicle sales in U.S. states that implemented lockdown orders to curb the spread of the coronavirus will drop 80% or more, analysts said on Wednesday. Auto retail sales through......
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CNBC Business

SpaceX, One Medical employees in Hawthorne test positive for COVID-19

CNBC
by CNBC01
CNBC – For more and to sign up click here Elon Musk, chief executive officer of Space Exploration Technologies Corp. (SpaceX) and Tesla Inc., speaks during an event at SpaceX headquarters in Hawthorne, California, U.S., on Thursday, Oct. 10, 2019. Patrick T. Fallon | Bloomberg | Getty Images At least......
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CNBC Business

Tesla, Ford top auto stock picks with traders

CNBC
by CNBC03
CNBC – For more and to sign up click here Auto stocks are surging. The group saw double-digit moves Tuesday on the back of the broader stock market’s one-day recovery rally, fueled by hopes that Congress would pass its pending coronavirus stimulus plan. The Dow Jones Industrial Average closed more......
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CNBC Business

GM to lend its auto factories to support production of ventilators in coronavirus fight

CNBC
by CNBC05
CNBC – For more and to sign up click here LAKE ORION, MI – MARCH 22: General Motors Chairman and CEO Mary Barra arrives at an event where she announced a $300 million investment in the GM Orion Assembly Plant plant for electric and self-driving vehicles at the Orion Assembly......
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Reuters - Business

U.S. auto industry backs tax relief, delaying USMCA start after coronavirus

Reuters
by Reuters05
WASHINGTON (Reuters) – Groups representing major automakers and suppliers asked U.S. lawmakers on Friday to consider new tax relief and delay the start of a new trade deal as auto sales decline as a result of the coronavirus pandemic. FILE PHOTO: The logo of German manufacturer BMW is seen on......
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CNBC Business

Former Uber self-driving head Levandowski agrees to plea deal over Google secrets

CNBC
by CNBC05
CNBC – For more and to sign up click here Anthony Levandowski Eric Risberg | AP Anthony Levandowski, known for advancing self-driving car technology in the last decade, agreed to plead guilty on Thursday to taking sensitive documents from his former employer Google before joining rival Uber. He will serve......
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Reuters - Business

Detroit automakers idle U.S. plants to combat coronavirus outbreak

Reuters
by Reuters08
DETROIT (Reuters) – The Detroit Three automakers will shut down their U.S. plants to stop the spread of coronavirus, bowing to pressure from the union representing about 150,000 hourly workers at those facilities, industry officials said. FILE PHOTO: A General Motors assembly worker works on assembling a V6 engine, used......
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CNBC Business

GM studying whether factories can be used to make medical supplies in coronavirus fight

CNBC
by CNBC09
CNBC – For more and to sign up click here GM CEO and Chairman Mary Barra and LG Chem Vice Chairman and CEO Hak-Cheol Shin at the automaker’s battery lab in Warren, Mich., where the companies announced a new $2.6-billion joint venture on Dec. 5, 2019. GM General Motors is......
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Reuters - Business

Detroit automakers agree to UAW request to shutter U.S. plants

Reuters
by Reuters06
DETROIT (Reuters) – The Detroit Three automakers will shut down their U.S. plants to stop the spread of coronavirus, bowing to pressure from the union representing about 150,000 hourly workers at those facilities, industry officials said. FILE PHOTO: The Ford logo is seen at the Ford oldest Brazil plant after......
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Reuters - Business

Detroit automakers agree to UAW request to shutter U.S. plants

Reuters
by Reuters06
DETROIT (Reuters) – The Detroit Three automakers will shut down their U.S. plants to stop the spread of coronavirus, bowing to pressure from the union representing about 150,000 hourly workers at those facilities, industry officials said. FILE PHOTO: The Ford logo is seen at the Ford oldest Brazil plant after......
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CNBC Business

UAW, Detroit automakers negotiate rotating partial shutdowns of US plants

CNBC
by CNBC08
CNBC – For more and to sign up click here An employee uses a flash grinder to smooth out the metal frame of a sports utility vehicle (SUV) on the production line at the General Motors Co. (GM) assembly plant in Arlington, Texas. Matthew Busch | Bloomberg | Getty Images......
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CNBC Business

Tesla Fremont factory not ‘essential business’ says Alameda County

CNBC
by CNBC06
CNBC – For more and to sign up click here Workers assemble cars on the line at Tesla’s factory in Fremont. David Butow | Corbis News | Getty Images The Alameda County Sheriff’s office said in an official tweet on Tuesday night that Tesla’s Fremont car factory is not an......
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Reuters - Business

U.S. car buyers may get a break on loans as coronavirus threatens auto sales

Reuters
by Reuters010
(Reuters) – Several automakers on Monday said U.S. buyers of new vehicles will have the option to defer their payments and customers with existing car loans could ask for payment rescheduling if impacted by shutdowns due to the spread of coronavirus. FILE PHOTO: Automobiles are shown for sale at a......
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CNBC Business

Fiat Chrysler, PSA end production at European plants

CNBC
by CNBC013
CNBC – For more and to sign up click here A Jeep Renegade rolls down an assembly line at Fiat Chrysler’s Melfi assembly plant in Italy in 2015. Michael Wayland / CNBC Automakers are shutting down manufacturing plants in Europe as the coronavirus spreads and brings many industries to a......
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CNBC Business

Ford’s COO to receive $2.5 million in shares if not selected as CEO

CNBC
by CNBC012
CNBC – For more and to sign up click here Jim Farley, Ford Motor Company Executive Vice President and President of Global Markets, reveals the 2020 Ford Mustang Shelby GT 500 at the 2019 North American International Auto Show during Media preview days on January 14, 2019 in Detroit, Michigan.......
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