General Motors Co. and Ford Motor Co.’s finance arms likely face multibillion-dollar losses linked to the dramatic drop in used-vehicle prices, JPMorgan Chase & Co. analysts said.
Tag: Ford
UAW, Detroit automakers in talks over safety rules to reopen U.S. plants
DETROIT (Reuters) – Detroit’s automakers and the United Auto Workers (UAW) union are in talks about safely restarting U.S. production halted by the coronavirus pandemic, but local union leaders said on Monday any workers who feel sick must be allowed to self quarantine without losing pay. FILE PHOTO: The United Auto Workers union logo is… Continue reading UAW, Detroit automakers in talks over safety rules to reopen U.S. plants
Elon Musk: The Cybertruck Will “Float For a While”
We All Float Down Here According to a new tweet by Tesla CEO Elon Musk, the electric automaker’s upcoming Cybertruck will be able to float — at least for short periods of time. “Yes. It will even float for a while,” Musk responded on Twitter about the vehicle’s wading depth. As Electrek reports, Musk bragged… Continue reading Elon Musk: The Cybertruck Will “Float For a While”
@Ford: Amid Coronavirus, Ford Continues European CV Sales Leadership, Launches Key Models with Electrified Options
About Ford Motor Company Ford Motor Company is a global company based in Dearborn, Michigan. The company designs, manufactures, markets and services a full line of Ford cars, trucks, SUVs, electrified vehicles and Lincoln luxury vehicles, provides financial services through Ford Motor Credit Company and is pursuing leadership positions in electrification; mobility solutions, including self-driving… Continue reading @Ford: Amid Coronavirus, Ford Continues European CV Sales Leadership, Launches Key Models with Electrified Options
Ford issues $8 billion debt securities after virus causes $2 billion loss
(Reuters) – Ford Motor Co (F.N) on Friday raised $8 billion from corporate debt investors to shore up its cash reserves as the coronavirus outbreak pummeled vehicle sales and production, resulting in an estimated loss of about $2 billion for the first quarter. FILE PHOTO: FILE PHOTO: The front grill logo of a Ford pickup… Continue reading Ford issues $8 billion debt securities after virus causes $2 billion loss
GM delivers first ventilators under 30,000-unit government contract
Ventilators assembled by GM and Ventec Life Systems were delivered to hospitals Thursday night with more making their way to facilities today and through the weekend, the first in a 30,000-unit order with the U.S. government. The deliveries, which went to hospitals in Chicago and Olympia Fields, Ill., are a milestone for the two companies… Continue reading GM delivers first ventilators under 30,000-unit government contract
Press Releases – Corona crisis: Guidelines for re-launch of EU auto industry
Brussels, 16 April 2020 – As Europe is grappling with the health, social and economic impacts of COVID-19, the European Automobile Manufacturers’ Association (ACEA) has set out four guiding principles for a successful re-launch of the auto industry, which will be vital to the wider economic recovery of the continent. “It is in Europe’s interest… Continue reading Press Releases – Corona crisis: Guidelines for re-launch of EU auto industry
Ford Is Testing Buzzing Wristbands to Keep Workers Apart
A dozen Ford Motor Co. workers are experimenting with wearable social-distancing devices that could be deployed more widely once the carmaker reopens idled manufacturing plants.
@Ford: Ford Announces Changes to Automotive Operations to Further Accelerate Transformation Plan
Company taking series of actions to better serve customers, streamline decision-making and increase accountability Strategic organizational moves focus on accelerating a winning portfolio, commercial vehicles as a business and implementing customer facing digital experiences across platforms Data and AI play pivotal role in servicing company’s brands and customers particularly in Connected Vehicles and Enterprise Connectivity… Continue reading @Ford: Ford Announces Changes to Automotive Operations to Further Accelerate Transformation Plan
Car dealers reinvent car-buying in the coronavirus era
Forget about fancy showrooms and free doughnuts. Car buyers now must take delivery of their new ride at home, at work or, sometimes, sitting near a dealership parking lot at a makeshift office. “We’re trying to be sensitive to what’s going on and yet facilitate a transaction in a safe and respectful manner,” said Paul Zimmermann, partner… Continue reading Car dealers reinvent car-buying in the coronavirus era