India's automakers have warned that total automobile sales could fall as much as 45% in the current fiscal year in a worst-case scenario as economic growth slumps due to the COVID-19 pandemic, and they are seeking government help through the crisis.
The ripple effect from the COVID-19 pandemic has disrupted the automotive industry as much as many others. Major automakers such as Ford (NYSE: F), General Motors (NYSE: GM) and Fiat Chrysler Automobiles, have closed factories; suppliers have levels of uncertainty never seen bef
To say that the automotive industry has been hard hit during COVID-19 and its negative economic effects would be an understatement. Vehicle inventory is out of whack as plants have temporarily shut down, plunging used-car prices are having unintended consequences for major manuf
What happened
Shares of Ford Motor Company (NYSE: F) closed higher on Friday, after the company confirmed that it will begin reopening its factories in the U.S. and Canada on May 18.
The NASDAQ 100 After Hours Indicator is up .14 to 9,220.49. The total After hours volume is currently 53,518,836 shares traded.The following are the most active stocks for the after hours session:
Auto production in Mexico and Brazil, Latin America's top producers, plunged by an unprecedented 99% in April as a result of the coronavirus crisis, with the two countries building a total of just 5,569 vehicles.
What happened
Shares of General Motors (NYSE: GM) were rising on Friday, after the company said that its $4 billion bond offering had been priced with moderate yields and that it will soon have a new $2 billion credit line available.
By Brett Owens
Bear markets can be painful, but they also create aEURoeonce-in-a-decadeaEUR buying opportunities for dividend investors. For example, there are four big names yielding between 9.9% and 15.9% that are literally the leaders in their respective industries. (WeaEUR
U.S. auto parts maker Tenneco Inc on Friday reported a smaller-than-expected fall in quarterly sales, as the impact of coronavirus-led lockdowns on its operations was not as bad as feared.
Ford Motor Company's (NYSE: F) two joint ventures with Chinese automakers both reported year-over-year sales growth for April, in the latest sign that China's new-car market is recovering from the effects of the coronavirus pandemic.
While Detroit automakers' unionized auto factories have been idled by the coronavirus pandemic, farm and construction equipment makers Deere and Caterpillar have won the support of the United Auto Workers and other unions to run their facilities during the pandemic.
Michigan Governor Gretchen Whitmer on Thursday said the state's factories can reopen on May 11, removing one of the last major obstacles to North American automakers bringing thousands of laid-off employees back to work amid the coronavirus pandemic.
While Detroit automakers' unionized auto factories have been idled by the coronavirus pandemic, farm and construction equipment makers Deere and Caterpillar have won the support of the United Auto Workers and other unions to run their facilities during the pandemic.
A look at the weighted underlying holdings of the iShares U.S. Dividend and Buyback ETF (DIVB) shows an impressive 22.3% of holdings on a weighted basis have experienced insider buying within the past six months.
Ford Motor Co. (Symbol: F), which makes up 0.19% of the iShar
Canadian auto parts maker Magna International Inc reported a 51% fall in quarterly adjusted profit on Thursday, hurt by a decline in global automobile production due to the coronavirus crisis.
General Motors (NYSE: GM) surprised Wall Street with a first-quarter net profit of $294 million, as strong demand for its profitable new pickups more than offset the severe impact of factory shutdowns amid the coronavirus pandemic.
The coronavirus pandemic brought the U.S. auto industry to its knees, but Americans' love affair with beefy pickup trucks is helping the Detroit automakers get on the road to recovery.
Less than two months ago, Ford (NYSE: F) enlisted in the war on coronavirus, teaming up with 3M (NYSE: MMM) to produce powered air-purifying respirators, or PAPRs, to be worn by health workers fighting the COVID-19 outbreak. These battery-operated devices, designed by 3M, would
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