Latest Automobile dealing News

FILE - In this Sept. 27, 2018, file photo a United Auto Workers assemblymen work on a 2018 Ford F-150 trucks being assembled at the Ford Rouge assembly plant in Dearborn, Mich. The United Auto Workers union wants Detroit's three automakers to shut down their factories for two weeks to keep its members safe from the spreading coronavirus. But union President Rory Gamble says in an email to members obtained by The Associated Press that the companies were not willing to shut factories down. (AP Photo/Carlos Osorio, File)

Ford suspends dividend, borrows to weather virus downturn

Mar. 19, 2020 10:02 AM EDT

DETROIT (AP) — Ford is suspending its dividend to preserve cash as vehicles sales fade due to the coronavirus outbreak. The company said it's drawing on two credit lines to put another $15.4 billion in cash on its balance sheet. Like other companies, Ford Motor Co. also withdrew its financial guidance...

A man sits alone at a coffee shop area at a shopping centre in London, Tuesday, March 17, 2020. For most people, the new coronavirus causes only mild or moderate symptoms, such as fever and cough. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia. (AP Photo/Kirsty Wigglesworth)

Govts pledge aid as global commerce seizes in face of virus

Mar. 17, 2020 5:13 PM EDT

Governments and central banks are scrambling to find ways to keep businesses from going bankrupt as the virus outbreak grinds the world economy to a halt. A day after Wall Street endured its worst daily drop since the crash of 1987, European markets wavered, while U.S. stocks recovered about half of their losses....

FILE - In this April 16, 2019, file photo, attendees take a close look at cars from BYD at the Auto Shanghai 2019 show in Shanghai. China’s auto sales plunged 81.7% in February, 2020,  from a year ago after Beijing shut down much of the economy to fight a virus outbreak, adding to problems for an industry that already was struggling with shrinking demand. (AP Photo/Ng Han Guan, File)

Automakers dodged parts shortage, but virus poses new threat

Mar. 16, 2020 5:45 PM EDT

DETROIT (AP) — When the coronavirus cut off the flow of parts from China in early January, most global automakers were ready: Anticipating such a crisis, they had prepared to tap other suppliers and to conserve parts that they had stored. Now, they face fast-moving new threats that seem beyond their...

FILE - In this Feb. 13, 2014 file photo,  Reid Bigland unveils the Dodge Challenger Shaker at the Canadian International Auto Show in Toronto.  Fiat Chrysler's head of U.S. sales is leaving the automaker after more than two decades.  Bigland had a bumpy career that saw huge growth but also a whistleblower lawsuit over a scheme to pay dealers to report fake sales numbers. The Italian-American company says Bigland will leave April 3, 2020.  (AP Photo/The Canadian Press, Chris Young, File)

Fiat Chrysler US sales chief who sued the company is leaving

Mar. 4, 2020 10:25 AM EST

DETROIT (AP) — Fiat Chrysler's head of U.S. sales is leaving the company after a bumpy career that saw him file a whistleblower lawsuit over a scheme to pay dealers to report fake sales numbers. The company says in a statement that Reid Bigland will leave Fiat Chrysler April 3 after 22 years with the...

In this photo taken Thursday, Feb. 13, 2020, traffic sits queued up on Uhuru Highway leading to downtown Nairobi, Kenya. In many parts of sub-Saharan Africa new wheels often mean a used car from Japan or Europe which are affordable to the growing middle class, but environmental activists and others complain that the second-hand vehicles, unable to meet stringent pollution tests elsewhere, are simply being dumped in the world's poorest continent. (AP Photo/Sayyid Abdul Azim)

Used cars keep Africans moving, but dumping concerns remain

Mar. 1, 2020 7:13 AM EST

KAMPALA, Uganda (AP) — Salesmen whistle at potential buyers of scores of vehicles shining in the afternoon sun. One truck might bring over $20,000 but it's far from the “brand new” ride the salesman touts it to be while attempting to start the engine. The truck is one of tens of thousands of...

FILE - In this  Jan. 10, 2020, file photo, former Nissan Chairman Carlos Ghosn speaks to Japanese media during an interview in Beirut, Lebanon. Nissan filed a civil suit Wednesday, Feb. 12, 2020 seeking 10 billion yen ($91 million) in damages from the Japanese automaker's former Chairman Carlos Ghosn. (Meika Fujio/Kyodo News via AP, File)

France steps up investigation around Ghosn, Omani dealership

Feb. 19, 2020 2:13 PM EST

PARIS (AP) — French prosecutors are turning up the heat on disgraced car industry executive Carlos Ghosn, opening a judicial inquiry into alleged money laundering, fraud and misuse of company assets during his time at the helm of the Renault-Nissan alliance. The prosecutor's office in the Paris suburb of...

FILE - In this Dec. 11, 2018, file photo, a beam of sunlight is cast on vehicles on a city ring-road clogged with heavy traffic during the morning rush hour in Beijing, China. Auto sales in China have plunged, deepening a painful downturn in the industry’s biggest global market and adding to economic pressure as the country fights a virus outbreak. (AP Photo/Andy Wong, File)

China's auto sales plunge in January, deepening market slump

Feb. 13, 2020 5:42 AM EST

BEIJING (AP) — China’s auto sales plunged in January, deepening a painful downturn in the industry’s biggest global market and adding to economic pressures as the country fights a virus outbreak. Sales of SUVs, sedans and minivans fell 20.2% from a year earlier to 1.6 million, an industry...

FILE - In this April 25, 2018, file photo a staff member stands next to a Tiggo 8 SUV by Chinese automaker Chery after a press conference at the China Auto Show in Beijing. A California company says it will build and sell Chinese-designed automobiles in the U.S. at the end of next year or early in 2022. HAAH Automotive Holdings says it has an agreement with large Chinese automaker Chery Automobile to provide the vehicles, which will be assembled in a U.S. factory. HAAH says the first vehicle sold will be a midsize SUV. (AP Photo/Mark Schiefelbein, File)

California company plans to sell China-designed SUVs in US

Feb. 10, 2020 11:57 AM EST

DETROIT (AP) — A California company says it will build and sell Chinese-designed automobiles in the U.S. at the end of next year or early in 2022. HAAH Automotive Holdings says it has an agreement with large Chinese automaker Chery Automobile to provide the vehicles, which will be assembled in a U.S....