FCA Gets $7.1B Helping Hand from Italian Government

FCA Gets $7.1B Helping Hand from Italian Government

After lengthy negotiations, Fiat Chrysler Automobiles. N.V. locked down a $7.1-billion loan backed by the Italian government to help in weather the pandemic, which has upended economic activity throughout the world. The loan money was directed to FCA Italy, a wholly...
The Great American Summer Vacation Trip is on Hold

The Great American Summer Vacation Trip is on Hold

“My husband is itching to get on a plane,” said Jocelyn Coley, the CEO of a Detroit public relations agency, and normally she would be, too, preparing for her annual birthday trip to “an island,” Instead, they’ll likely be driving to Torch Lake, about three hours...
MIT Researchers Help Teach Toyota AVs to Drive

MIT Researchers Help Teach Toyota AVs to Drive

Researchers at the Massachusetts Institute of Technology working with the Toyota Collaborative Safety Research Center have developed a simulation system with infinite steering possibilities to help autonomous vehicles to learn to navigate real-world scenarios before...
Lyft Making Leap to All-Electric Rides by 2030

Lyft Making Leap to All-Electric Rides by 2030

The impact of the pandemic has forced many companies to take a hard look at how they will do business in the future, and ride-hailing service Lyft Inc. is making a major change, committing to using battery-electric vehicles only by 2030. In a blog post on its website,...
GM Marking Juneteenth With Poignant Moment of Silence

GM Marking Juneteenth With Poignant Moment of Silence

General Motors plans to recognize Juneteenth, which marks the end of slavery in the U.S., Friday with 8 minutes and 46 seconds of silence. Juneteenth is June 19, and the period of silence matches the amount of time that the Minneapolis police officer knelt on Floyd’s...
Automakers Trying to Spur Sales with More Advertising

Automakers Trying to Spur Sales with More Advertising

After an abrupt decline in ad spending during the stay-at-home orders designed to stop the spread of COVID-19 and the cancellation or postponements of key advertising vehicles such as the NCAA Basketball Tournament and the NBA playoffs, auto advertising surged during...
China Passenger Car Sales Rise Slightly in May

China Passenger Car Sales Rise Slightly in May

China’s auto industry continues to claw back from the coronavirus as companies saw a 1.9% increase in year-over-year sales in May with luxury cars leading the charge. The China Passenger Car Association said that premium and luxury passenger car retail sales rose 28%...
Used-Car Sales Show Strong Rebound in May

Used-Car Sales Show Strong Rebound in May

New vehicle sales in May were better than expected, but overall were still down by about a third compared with last May. However, the real good news appears to be on the used-car side of the business appears to be on the rise. Used car sales were down 5% in May...