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Worldwide car registrations are set to fall this year as the coronavirus pummels the automotive sector, but gas guzzlers will find themselves taking a bigger hit than electric cars, according to a report. Registrations of combustion-engine cars will drop 23 percent in 2020, while electric car registrations will dip by 18 percent, according to analysts …
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Federal lawmakers are making a bipartisan push to bail out the auto industry as the coronavirus crisis causes car sales to plummet, a new report says. Midwestern representatives are circulating a letter to convince their colleagues to throw auto manufacturers and suppliers a financial lifeline in a future relief package, The Washington Post reported Wednesday. …
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Carl Icahn’s rental car company Hertz Global Holdings has roughly three weeks to prove it can stave off bankruptcy, the company said on Tuesday. In a regulatory filing, the car rental behemoth said lenders have given it until May 22 to develop a viable financial structure that “better reflects the economic impact of the coronavirus.” …
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General Motors said on Monday the automaker has suspended its quarterly cash dividend on its common stock and its share buybacks to save cash in the face of the coronavirus crisis that has severely hurt global automobile sales. Shares of GM were trading 1.3 percent lower in late-morning trading, at at $21.67. “We continue to …
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Ford said on Monday it expects to post a pre-tax loss of about $600 million for the first quarter as the coronavirus outbreak pummeled its sales and shuttered vehicle assembly plants, resulting in a 21 percent drop in vehicle sales to dealers versus the same quarter in 2019. The news sent Ford’s shares down more …
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US new vehicle sales likely drove off a cliff in March as the coronavirus pandemic pounded consumer confidence and shuttered dealerships across much of the country, and sales are likely to take a further beating in April as social distancing guidelines remain in place. “When you look at March, we basically lost half the month,” …
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Several automakers on Monday said US buyers of new vehicles will have the option to defer their payments and customers with existing car loans could ask for payment rescheduling if affected by shutdowns due to the spread of coronavirus. The move is also aimed at boosting new car sales during a time of uncertainty for …
Worldwide car registrations are set to fall this year as the coronavirus pummels the automotive sector, but gas guzzlers will find themselves taking a bigger hit than electric cars, according to a report. Registrations of combustion-engine cars will drop 23 percent in 2020, while electric car registrations will dip by 18 percent, according to analysts …
