Cars and Drivers
Cars and Drivers Articles
GM announced Monday that it has extended two credit agreements while suspending its dividend and buybacks as it builds liquidity during the coronavirus pandemic.
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Ford has filed a preliminary prospectus for three senior unsecured note offerings to raise more cash. This is the company's first offering since its debt was downgraded to junk last month.
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New car sales in the European Union fell by 55% in March leading to a decline of more than 25% for the first quarter. Lockdowns related to the coronavirus pandemic get the blame for the declines.
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Auto industry research firm J.D. Power has released revised estimates for new car sales in the United States for 2020. The COVID-19 lockdowns have already chopped estimated April sales by more than...
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It has been presumed for some time that U.S. new car sales would plunge due to the spread of COVID-19. In fact, New York City sales were nearly zero for the week.
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Ford seems to be caught between a rock and a hard place. While the COVID-19 instant recession has been brutal, Ford already was facing problems before the economy tanked in February and March.
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Every major car company in the world counted China as its largest potential market. But car sales have crashed across the world due to the spreading pandemic.
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Tesla showed that this was its best first-quarter production and deliveries report yet. Even its Shanghai factory continued to reach record levels of production despite some significant setbacks.
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American car sales fell enough in March to indicate domestic car sales could fall by half, at least for several months.
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Now that S&P has joined Moody's in dropping Ford's credit rating to below investment grade, the company's debt can officially be called junk.
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Tesla was an absolute market darling going into this coronavirus scare. Since then, it has sold off with the rest of the market, and now it has been downgraded.
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GM announced Tuesday that it has drawn $16 from its credit facilities to boost its cash position. Investors are interpreting that as a backstop for dividends.
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Ford has announced the closure of assembly plants in North America, Asia and elsewhere due to the coronavirus pandemic. The questions is, even when production resumes, will there be buyers?
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Even the most innovative companies in America are getting mowed down in some form or fashion as the recession starts to unfold. Tesla Inc. (NASDAQ: TSLA) may have seen its shares rally 18% on...
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To say that the auto industry is about to take a beating due to the coronavirus pandemic is perhaps an understatement.
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