Ford Reports Q2 $1.1B Net Income, $1.9B Adjust EBIT Loss

Ford Reports Q2 $1.1B Net Income, $1.9B Adjust EBIT Loss

Automaker after automaker has lined up and reported second quarter losses in the past several days, except Tesla — and now Ford Motor Co., sort of. Ford turned a Q2 profit, reporting $1.1 billion in net income on revenue of $19.4 billion. However, if you take out a...
Volkswagen Suffers Q2 Loss; Board Publicly Backs Diess

Volkswagen Suffers Q2 Loss; Board Publicly Backs Diess

Volkswagen is the latest automaker reporting negative second quarter results, largely stemming from the impact of the COVID-19 pandemic around the world. The company posted an adjusted operating loss of 1.7 billion euros, or $2 billion, for the period, which is down...
GM Moves Ahead With Battery Plant

GM Moves Ahead With Battery Plant

The construction of the new battery plant near Lordstown, Ohio is one of the main pillars of General Motors’ electric vehicle strategy took another step forward with the first pieces of steel being raised. GM chairman Mary Barra said steel construction at the all-new...
U.S. New Vehicle Sales Drifting Downward in July

U.S. New Vehicle Sales Drifting Downward in July

July sales are expected to look weak when the numbers are posted next week as sales continue to drift sideways as the pandemic keeps a tight grip on the U.S. economy. Cox Senior Economist Charlie Chesbrough is calling for July auto sales volume to be down 19% versus...
Auto Industry Can Expect Digital Sales Trends to Carry On

Auto Industry Can Expect Digital Sales Trends to Carry On

Without question, the global pandemic has hampered the auto industry in innumerable ways, but it’s also acted as a catalyst to move dealers and automakers further into the digital age of retailing out of necessity. Things such as online buying and working from home on...