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Tag Archives: COVID-19
VW: Three-Month Warranty Extension On New, Used Vehicles
Volkswagen and Volkswagen Credit (VCI) also announced an extension of customer payment relief options put in place because of the ongoing COVID-19 pandemic. Continue reading
COVID Journal – Our Correspondents on Politics, Policy and Insights in these Medieval Times of a 21st Century Plague
Well, we are isolating in place. I have seen all of Fleabag and the Crown, and The Medici, among others. Hoarding here is more contagious than Corona virus. King Trump, as always, is trying to bluff his way out of the crisis he abetted by dismissing the threat and then – even now – refusing to act while self-praising his not quiet, not genius approach and attacking media for using his own words/babble against him. Continue reading
Penske Automotive Q1 2020 Results -46% at $0.64 per share
In the U.S., through February same-store new and used automotive retail unit sales increased 7.5% and declined 1.1% internationally. In March, the outbreak of COVID-19 began to impact Penske in all markets. Many U.S. and Germany dealerships were impacted by shelter-in-place orders while operations in Italy, Spain and the U.K. were closed. As a result, same-store new and used automotive retail unit sales for the month of March declined -40.2%. Continue reading
General Motors to Offer More Senior Unsecured Notes
“We expect the New 364-Day Revolving Facility to be unsecured and to provide available borrowing capacity of approximately $2 billion in U.S. Dollars only, and we have received commitments from lenders in excess of this amount.” Continue reading
How To Disinfect a Vehicle Without Damaging Its Interior
The CDC recommends wearing disposable gloves for cleaning and then disinfecting surfaces. If a surface appears dirty, it should be wiped down with soap and water prior to disinfection. For vehicle interiors, a soft or microfiber cloth dampened with soap and water can be used to wipe down hard surfaces. Continue reading
Porsche Production to restart in Zuffenhausen and Leipzig
However other stricter Porsche measures remain in force until further notice to relieve the burden on the infrastructure at the sites: this means that the greatly increased level of “mobile working” will continue in the indirect areas, and meetings will be held as video or telephone conferences. The ban on business travel also continues to apply. Continue reading
Posted in environment, manufacturing
Tagged auto industry commentary, autoinformed.com, COVID-19, Kenneth Zino, leipzig, Porsche factories, Zuffenhausen
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COVID-19 – 2020 Pebble Beach Concours d’Elegance Cancelled
With the cancellation of this year’s event, the 70th Pebble Beach Concours will now take place on Sunday, August 15, 2021. Continue reading
GM Canada Plans to Make Face Masks in Oshawa
“We plan to manufacture approximately one million masks per month at cost for the Canadian government with an estimate of 50 employees supporting two shifts of production. The project still requires completion of additional work with our governments and our Unifor partners and we will provide updates as we get ready to begin production,” GM Canada said in a statement. Continue reading
US Used Vehicle Wholesales Virtually Stopped in March
“The outlook is based on macro-economic expectations, specifically that the country will experience significant job losses through the second quarter. Currently, our forecast has prices falling by 1.7% on a full-year basis versus 2019,” Paris said. Continue reading
Challenging Start in Q1 as Porsche Delivers ~53,000 Vehicles
During the first three months of 2020, Porsche sold 53,125 vehicles to customers worldwide. Compared to the year before, deliveries were down by 5% due to the effects of the coronavirus pandemic. Continue reading
Posted in results, sales
Tagged auto industry commentary, autoinformed.com, COVID-19, Detlev von Platen, Kenneth Zino, Porsche Q1 Sales
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TravelCenters of America Lays Off More than 3000
Most were involved in the restaurants at the truck stops. All furloughed employees currently enrolled in TA’s benefits programs will continue to be eligible for health care coverage based on their plan. Continue reading
RumbleOn Posts 2019 Loss. Cancels Guidance
Executive summary from AutoInformed: RumbleOn has ambitious plans with more than $840 million in revenue in 2019, but what is arguably a national brand is facing the ongoing contraction (collapse?) of the U.S. economy. Continue reading
FCA to Restart of North American Operations?
Note the irony of an Italian owned company where COVID-19 is raging unabated, assuming a business as usual approach to the global pandemic where the untied sates is now leading in the rate of diagnosis of the virus. Continue reading
Posted in economy, environment, labor issues, manufacturing, people
Tagged auto industry commentary, autoinformed.com, COVID-19, fca, Kenneth Zino, uaw
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Canada Contracts GM to Make 10 Million Face Masks
Canada received its Medical Device Establishment License on April 22 and the company built and installed the mask making machinery, sourced materials and trained its workers in approximately one month. Continue reading →