20 Articles
Mar 24, 2020 Official
GM taking austerity measures in face of coronavirus slowdown

Company tapping into lines of credit, suspending 2020 forecast

The No.1 U.S. automaker, which also suspended its 2020 outlook, said it was evaluating its quarterly dividend, but has not yet decided to suspend it. As of the end of 2019, GM had $34.6 billion in liquidity, including $17.3 billion in cash. Companies across the globe are drawing down on revolving credit lines to help them cover their costs through a crisis which has brought many elements of the global economy to a complete standstill.

Reuters
Mar 24, 2020 Followup
Elon Musk says Tesla bought ventilators in China for U.S. coronavirus patients

Gov. Gavin Newsom says California will receive 1,000 ventilators from Tesla

Tesla bought hospital ventilators in China and shipped them to the United States, CEO Elon Musk said on Tuesday. Tesla's purchase comes as governments across the globe appeal to automakers and aerospace companies help procure or make ventilators and other medical equipment. "China had an oversupply, so we bought 1255 FDA-approved ResMed, Philips & Medtronic ventilators on Friday night & airshipped them to LA," Musk said on Twitter.

Jeremy Korzeniewski
Mar 24, 2020 Official
FCA to make 1 million face masks a month for North America coronavirus fight

How much to help other countries vs. Italy is tough topic for Fiat Chrysler

Italian-U.S. car giant Fiat Chrysler has confirmed plans to produce a million face masks a month and said it will distribute them to emergency services in North America to help the fight against coronavirus. FCA, which is also trying to help produce badly needed respirators for patients in intensive care in Italy, is one of a number of large manufacturers adapting production lines to make products in desperately short supply. "Production capacity is being installed this week and the company wi

Reuters
Mar 24, 2020 Report
Coronavirus drags car dealers into digital commerce

Dealers often seem stuck in the past; COVID-19 may force them to modernize

NEW YORK/DETROIT (Reuters) - Auto retailers have been slow to embrace e-commerce, but the coronavirus pandemic is changing that. Online traffic has risen even as in-person showroom traffic has disappeared. Auto dealers are embracing digital tools to close deals without a handshake and arranging for vehicles to be picked up or delivered without requiring customers to come to their stores.

Reuters
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