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GM cuts white-collar salaries; Ford defers execs' pay, wants to restart some plants

'Wide-ranging and substantial' steps, with 'long-term viability at stake'

The two largest U.S. automakers on Thursday announced measures to shore up their finances as the coronavirus pandemic takes a deep economic bite, with Ford Motor Co aiming to resume production next month of its most profitable vehicles while cutting costs further. General Motors Co , the No. 1 U.S. automaker, said it planned to keep its plants closed indefinitely and was reducing the pay of salaried employees and executives and suspending some future product programs to conserve cas

Indy 500 postponed until August because of coronavirus

Penske makes the call to delay his first Indy 500 as owner

The Indianapolis 500 was postponed Thursday until August because of the coronavirus pandemic and won't run on Memorial Day weekend for the first time since 1946. “The month of May at the Indianapolis Motor Speedway is my favorite time of year, and like our fans, I am disappointed that we have had to reschedule the Indianapolis 500,” said motorsports giant Roger Penske, who finalized his purchase of IndyCar and Indianapolis Motor Speedway earlier this year. The Indianapolis 500 began in 1911 bu

Fiat Chrysler agrees to new $3.8 billion credit facility with banks

FCA plants all around the world are shut in response to the virus emergency

Fiat Chrysler said on Thursday it has agreed a new credit facility with two banks, at a time when major carmakers are having to shut down plants, losing revenue as demand slumps in the wake of the coronavirus. Most of FCA's plants around the world are currently shut in response to the virus emergency. Italian investment firm Exor , which controls FCA, said on Wednesday that the temporary closures might continue and increase depending on how the coronavirus outbreak develops.

Goodwood Festival of Speed postponed due to coronavirus

Organizers plan to reschedule in late summer or early fall

2021 BMW 330e PHEV launched in America with 22 miles of electric range

The U.S. spec plug-in hybrid 3 Series is out, and so is pricing

1990 Chevrolet C/K 454 SS with 26 miles costs more than a Toyota Supra

It's one of 17,000 built, and it's likely the best one left

Toyota plans to reopen factories on April 20

The automaker 'will continue to monitor the situation'

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