The Portuguese Carlos Tavares (61), Chairman of the Board of the French PSA group, is regarded as the Superstar of the auto industry, since he saved Citroën DS, Peugeot and Opel from delicate situations, and has his PSA group profit margins, the Champion performs. To be concentrated at the beginning of this year, the China… Continue reading Interview with PSA CEO Carlos Tavares – view – The KXAN 36 News
Tag: FCA
Nexteer Reports 2019 Financial Results
AUBURN HILLS, Mich., March 29, 2020 /PRNewswire/ — Nexteer Automotive today reported annual results for its fiscal year ended December 31, 2019. The Company’s 2019 financial results were impacted by various environmental challenges including lower OEM light vehicle production across all regions, led by a decline in China, a GM-UAW labor strike in North America interrupting vehicle… Continue reading Nexteer Reports 2019 Financial Results
VW burning through $2.2 billion a week with factories closed by coronavirus – Autoblog
FRANKFURT — Volkswagen may have to cut jobs if the coronavirus pandemic is not brought under control as the carmaker is still spending about 2 billion euros ($2.2 billion) a week, Chief Executive Herbert Diess told German TV channel ZDF. Diess told the Markus Lanz talkshow that the German company, which employs 671,000 people worldwide,… Continue reading VW burning through $2.2 billion a week with factories closed by coronavirus – Autoblog
@FCA: FCA Expands Coronavirus-related Relief Actions; 1 Million Meals for School Children
Fiat Chrysler Automobiles Expands Coronavirus-related Relief Actions; 1 Million Meals for School Children Included in New Programs March 27, 2020 , Auburn Hills, Mich. – As previously communicated to the company’s employees from Fiat Chrysler Automobiles (FCA) CEO Mike Manley, the company is in the process of converting its first plant to produce face masks for… Continue reading @FCA: FCA Expands Coronavirus-related Relief Actions; 1 Million Meals for School Children
Ferrari to resume production in Maranello and Modena as of 14 April 2020.
Maranello, 27 March 2020 – Ferrari N.V. (“Ferrari” or the “Company”) (NYSE/MTA: RACE) announces today that subject to supply chain continuity it now plans to resume production as of 14 April 2020.All activities that can be conducted in smart working will continue to be performed as has been the case in recent weeks. The Company… Continue reading Ferrari to resume production in Maranello and Modena as of 14 April 2020.
@Ferrari: Ferrari to resume production in Maranello and Modena as of 14 April 2020
Maranello, 27 March 2020 – Ferrari N.V. (“Ferrari” or the “Company”) (NYSE/MTA: RACE) announces today that subject to supply chain continuity it now plans to resume production as of 14 April 2020. All activities that can be conducted in smart working will continue to be performed as has been the case in recent weeks. The… Continue reading @Ferrari: Ferrari to resume production in Maranello and Modena as of 14 April 2020
Fiat Chrysler plans April 14 production restart
CLOSE Fiat Chrysler plans a restart of most production on April 14. (Photo: Kimberly P. Mitchell, Detroit Free Press) Fiat Chrysler Automobiles, which has seen at least three workers die in the midst of the coronavirus outbreak, plans to restart production April 14. The company, in a news release Thursday on the restart date, said it is taking “important… Continue reading Fiat Chrysler plans April 14 production restart
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
UPDATE 2-Ford plans to resume production at some North American plants in April
DETROIT (Reuters) – Ford Motor Co (F.N) said on Thursday it planned to restart production at some plants in North America as early as April 6, bringing back its most profitable vehicles at a time when U.S. demand has slumped and the No. 2 U.S. automaker is conserving cash to survive the coronavirus pandemic. The… Continue reading UPDATE 2-Ford plans to resume production at some North American plants in April