Autoplay Show Thumbnails Show Captions Last SlideNext Slide Cadillac is upping its firepower in the premium performance wars with a track-focused variant of its CT4 and CT5 sedans called the V-series Blackwing. Aimed at Europe’s iconic BMW M, Mercedes AMG, and Audi RS greyhounds, the CT4-V Blackwing and CT5-V Blackwing were first revealed — sans badging — at the Detroit Grand… Continue reading Cadillac Blackwing goes to battle against German super sedans
Author: Detroit News Online
Tesla wooed by $1 billion Missouri package for Cybertruck plant
Ed Ludlow, Bloomberg Published 1:50 p.m. ET April 14, 2020 | Updated 2:02 p.m. ET April 14, 2020 A small Missouri city is trying to lure Tesla Inc. with big bucks. The city of Joplin, near Missouri’s borders with Oklahoma and Kansas, is seeking to tempt the electric-car maker with $1 billion in incentives and… Continue reading Tesla wooed by $1 billion Missouri package for Cybertruck plant
Ford considers production restart, expects $600 million Q1 earnings loss
Ford Motor Co. is “considering a scenario” to restart its manufacturing plants as early as next month even as it expects to post a $600 million adjusted earnings loss for the first quarter. First-quarter financial results are set to be released April 28. The Dearborn automaker says it has enough cash on hand to make it through at least… Continue reading Ford considers production restart, expects $600 million Q1 earnings loss
Honda, Nissan to stop paying furloughed workers at US plants
Shiho Takezawa and Chester Dawson, Bloomberg Published 3:00 p.m. ET April 7, 2020 | Updated 3:02 p.m. ET April 7, 2020 Honda Motor Co. and Nissan Motor Co. will temporarily stop paying workers laid off from their idled U.S. plants as the coronavirus stifles demand for cars and trucks. The two Japanese companies on Tuesday… Continue reading Honda, Nissan to stop paying furloughed workers at US plants
Ford CEO Jim Hackett received $17.36 million in compensation in 2019
Ford Motor Co. CEO Jim Hackett in 2019 received $17.36 million in total compensation, the Dearborn automaker reported in a Friday filing with the Securities and Exchange Commission. Hackett’s income last year, his second full year as CEO, fell 2.2% from the $17.75 million the chief executive was paid in 2018. While Hackett’s base salary was steady at $1.8 million and his stock awards were… Continue reading Ford CEO Jim Hackett received $17.36 million in compensation in 2019
Ford delays restarting production indefinitely
Ford Motor Co. on Tuesday said it will further delay restarting production at its North American plants as the COVID-19 outbreak continues to spread in the United States. The Dearborn automaker last week had shared its intentions to begin manufacturing again at Hermosillo Assembly in Mexico starting next Monday and at select U.S. plants, including… Continue reading Ford delays restarting production indefinitely
GM to convert Warren facility to mass-produce surgical masks
Detroit — General Motors Co. announced plans Friday to convert its closed Warren plant to mass-produce surgical masks, an employee-led initiative in response to the coronavirus outbreak. The necessary machinery to produce the Level 1 surgical masks was delivered Friday to the Warren plant on Mound Road, officials said. GM anticipates production will begin Monday and will ramp-up to… Continue reading GM to convert Warren facility to mass-produce surgical masks
GM cuts paychecks of salaried workforce, executives
Detroit — The spreading coronavirus crisis is pushing General Motors Co. to cut its salaried workforce’s pay by 20% for potentially up to six months, a company spokesman said Thursday, but the automaker would pay back the reductions with interest later this year or early 2021. GM’s cost-cutting action follows Ford Motor Co.’s move to defer portions of salaries for 300 top… Continue reading GM cuts paychecks of salaried workforce, executives
2,000 contract workers let go at Fiat Chrysler as automakers hunker down
Almost 2,000 contract workers across North America at Fiat Chrysler Automobiles will be out of a job as projects are paused, another indication of the pressure the auto industry is under amid the coronavirus pandemic. General Motors Co. and Ford Motor Co., meanwhile, are borrowing billions from existing credit facilities to ensure financial flexibility as… Continue reading 2,000 contract workers let go at Fiat Chrysler as automakers hunker down
Almost 2,000 contract employees out of work after Fiat Chrysler suspends projects
Almost 2,000 supplemental contract employees at Fiat Chrysler Automobiles are out of work across North America as the automaker pauses some of its development projects because of financial burdens caused by the coronavirus pandemic. The decision comes as the automaker halts production at its manufacturing plants on the continent and in other countries. Meanwhile, a stay-at-home… Continue reading Almost 2,000 contract employees out of work after Fiat Chrysler suspends projects