Production of the all-new Defender at Land Rover's plant in Nitra, Slovakia, has been halted since March 20, and Jaguar Land Rover officials have not signaled when output might resume.
CEO Roger Penske and President Robert Kurnick will take no salary during the coronavirus outbreak, while executives and managers throughout the dealership group's global team are taking undisclosed pay cuts.
The pessimism on U.S. sales intensified over the weekend when President Donald Trump extended to April 30 the social-distancing guidelines aimed at containing the virus.
Volvo is removing a major pain point for customers with a vehicle undergoing service -- having to schlep to and from the dealership.
CEO Roger Penske and President Robert Kurnick will take no salary during the coronavirus outbreak, while executives and managers throughout the dealership group's global team are taking undisclosed pay cuts.
Robert and his wife tested positive for COVID-19 after driving back from a trip to Palm Springs, Calif. Both self-quarantined. He later was admitted to a hospital and died there.
The automaker aims to have 198 dealerships using Transit vans upfitted with repair equipment this year. Many already offering mobile service have helped doctors, nurses and first responders who are fighting the virus outbreak.
In a survey conducted by the Automotive News Data Center from March 18 to 24, the 314 respondents indicated they expect sharp declines in new- and used-vehicle sales and in their overall businesses.
The automaker aims to have 198 dealerships using Transit vans upfitted with repair equipment this year. Many already offering mobile service have helped doctors, nurses and first responders who are fighting the virus outbreak.
Analysts say the majority of customers who have disappeared from showrooms are simply waiting for a period of more stability and economic confidence -- and in many states, for orders keeping them at home to be lifted.
Mastria Auto Group launched its end-to-end digital retailing process in the fourth quarter of 2019. Little did they know that this process was finalized mere weeks before a global pandemic would make in-store sales next to impossible in many states.
Readers weigh in with their thoughts about whether dealerships should stay open during the unfolding health crisis.
On March, 19 Todd Caputo decided to close his four Syracuse-area stores, a day before the state would have made that decision for him.
Dealers featured this week include Rick Hamilton of Hamilton Nissan in Hagerstown, Md.; Anthony Borelli, president of Pleasantville Ford in New York; George Grubbs Jr., dealer principal of Grubbs Infiniti in Grapevine, Texas; Tom Seeger, dealer principal of Seeger Toyota in St. Louis; Kurt Koch, dealer principal of Koch 33 Toyota in Easton, Pa.; Alan Teffertiller, owner of Teffertiller Motors in McLeansboro, Ill.; Ted Chapman, CEO of Chapman BMW Chandler in Arizona; Harris Wildstein and Chip Ott, dealer principals of Hamilton Mazda in Hamilton Square, N.J.; and Randy Wise, dealer principal of Randy Wise Chevrolet in Flint, Mich.
The shift to online vehicle sales has been underway for years. Some dealers say the changes they're making to respond to COVID-19 may be here to stay.
The top 150 battled a nationwide sales decline last year. Among the biggest of the big, most held their spots.
“It was probably the most tragic day of my career,” said one dealer in Washington state, after putting workers on what he called standby unemployment amid the pandemic.
The automaker began offering no-contact deliveries as part of a new online sales system in February, as the coronavirus outbreak was spreading quickly across China.
Unlike the Great Recession, when the Detroit 3 initially asked Congress for $50 billion to stay afloat, automakers have avoided direct pleas for a financial rescue. Instead, automakers, dealers and suppliers advocate for broader relief during a public health crisis..
When one of his employees' siblings tested positive for coronavirus, the chairman of a Michigan Ford dealership acted quickly, shuttering the store for two weeks and switching commissioned workers to a daily pay rate.
An earlier memo covered automotive repair and maintenance as well as transportation equipment manufacturing and distribution facilities. Guidance for retail operations, including leasing and rental activities, had not been clear.
The unprecedented stimulus package provides about $500 billion in loans and assistance for big companies and a separate pot of about $350 billion for small businesses loans. The auto industry did not seek a specific bailout.
The unprecedented stimulus package provides about $500 billion in loans and assistance for big companies and a separate pot of about $350 billion for small businesses loans. The auto industry did not seek a specific bailout.
The unprecedented stimulus package provides about $500 billion in loans and assistance for big companies and a separate pot of about $350 billion for small businesses loans. The auto industry did not seek a specific bailout.
The package includes an unprecedented injection of loans, tax breaks and direct payments for major corporations and individual taxpayers to help the U.S. economy get through an abrupt shutdown. The auto industry did not seek a specific bailout.
As U.S. sales collapse, the dealership group is also reducing executive pay and slashing marketing spending as it re-sizes to "minimal activity levels" before an expected recovery.
The law allows manufacturers that build only electric vehicles to sell directly to consumers through factory-owned stores, provided they have no franchised dealerships in the state.
The selling rate was 35 percent lower than expected last week and is forecast to plunge even further after a number of states ordered most residents to stay home as much as possible to help contain the coronavirus outbreak.
One of the biggest dealership buy-sell deals in years was aborted days before it was scheduled to close. Asbury also tapped a credit line in response to the COVID-19 outbreak.
While CADA economist Oumar Dicko applauded the Canadian government’s C$82 billion package to help support individuals and businesses affected by the crisis, he said the government needs to act quickly to distribute the money so that it can have an immediate impact.
The German sports car maker is guaranteeing payouts, relaxing dealer performance bonus objectives and extending finance. Its captive finance arm also is offering retail customers lease extensions.
In an interview on Tuesday with Fox News, President Trump said: "I’d love to have it (businesses) open by Easter. I will tell you that right now."
Dealerships across the country may be faced with the reality they'll need to temporarily close showrooms under various state governors' orders to stay at home and shutter nonessential businesses to fight the spread of coronavirus.
There are currently no plans for House members to return to Washington to vote on the bill, and the proposal appears to be a list of demands Democrats want to see included in the Senate bill. Senate leaders expect a deal with Democrats as soon as this morning.
The Canadian province's exempted list includes "car and truck dealerships and related facilities.” Several dealerships across Canada service and repair police vehicles, ambulances, firetrucks and delivery vehicles.
In a letter to the White House, the coalition said initial counsel resulted in some states and other jurisdictions prohibiting vehicle sales by dealerships.
New-car dealerships have a long way to go to shrug off the severe impact of the lingering coronavirus epidemic, with average revenue from sales operations still less than half of normal levels.
While many details of the Senate plan had been hashed out, some fundamental differences hadn’t been bridged Monday afternoon. House Speaker Nancy Pelosi said she is hoping to bring House members back to vote on Democrats’ version of the coronavirus stimulus bill.
New-car dealerships have a long way to go to shrug off the severe impact of the lingering coronavirus epidemic, with average revenue from sales operations still less than half of normal levels.
In an email to Congress obtained by Automotive News, the Alliance for Automotive Innovation reiterated the automotive industry's role in the economy and the negative impact caused by the coronavirus to all aspects of the sector, as the country awaits further details of a $2 trillion economic stimulus package.
Governors across the country continue to issue stay-at-home orders requiring nonessential businesses to close. In many cases, dealerships have been deemed essential businesses for service and parts. But auto sales have been treated differently in the orders, leading to uncertainty and confusion for dealerships.
Governors across the country continue to issue stay-at-home orders requiring nonessential businesses to close. In many cases, dealerships have been deemed essential businesses for service and parts. But auto sales have been treated differently in the orders, leading to uncertainty and confusion for dealerships.
While many details of the plan had been hashed out, some fundamental differences hadn’t been bridged late Sunday. The recriminations began after a procedural vote failed. Treasury Secretary Steven Mnuchin said he thinks a deal will get done today.
Automakers are implementing measures to help safeguard the liquidity of their retail partners in Europe, such as revising sales targets, guaranteeing bonus payments and deferring invoices for demo vehicles. But dealers are still faced with a massive loss of revenue.
While many details of the plan had been hashed out, some fundamental differences hadn’t been bridged late Sunday. The recriminations began after a procedural vote failed. An incensed Senate Majority Leader Mitch McConnell cited plummeting stock futures to express the urgency to act Monday.
