Autonews - Breaking

• Latest target in quest for service technicians: Seventh-graders

  

  Nine automakers are joining forces in a new effort to solve one of the most vexing challenges facing dealerships.
  - 1 day ago 4 Apr 20, 4:00am -
• Dealers seek guidance on business loans as showrooms shutter

  

  A lack of clarity on the scope, requirements and timeline of the lending process has some dealers scratching their heads as they consult with bankers and tax advisers while struggling to keep their employees paid and businesses afloat.
  - 1 day ago 4 Apr 20, 4:00am -
• Cadillac CT5 aims to undercut rivals

  

  The luxury brand says a two-tiered approach to the V-series and a handful of segment-first or exclusive features — such as a rear camera mirror, safety alert seat and ZF passive dampers — will help the car gain traction.
  - 1 day ago 4 Apr 20, 4:00am -
• Asbury furloughs 2,300 employees, cuts salaries

  

  The dealership group, moving to preserve cash, is also reducing marketing and capital outlays, and suspending a 401(k) match for employees in response to a sudden drop in business because of the coronavirus outbreak.
  - 1 day ago 3 Apr 20, 11:30pm -
• FCA postpones shareholders' meeting to late June

  

  The automaker said delaying the annual meeting, which was scheduled for April 16, would result in the postponement of a resolution on its $1.2 billion dividend based on last year's results.
  - 2 days ago 3 Apr 20, 9:43pm -
• Hyundai extends expiring warranties to June 30

  

  In response to concerns over servicing vehicles while also maintaining social distancing, the automaker is giving customers more time to get service work done.
  - 2 days ago 3 Apr 20, 9:17pm -
• Cash for clunkers overseer backs new 'lifeline' for dealers, automakers

  

  Former Transportation Secretary Ray LaHood, who oversaw the Cars Allowance Rebate System in 2009, supports a sequel if the auto industry, lawmakers and White House agree that light-vehicle demand needs a boost once the virus begins to abate.
  - 2 days ago 3 Apr 20, 4:33pm -

• Ford CEO compensation falls to $17.3M in 2019

  

  The automaker's top executives hit only 54 percent of performance targets in a year when CEO Jim Hackett said execution was "simply not nearly good enough."
  - 2 days ago 3 Apr 20, 3:23pm -
• GM's Q1 China vehicle sales drop 43% as coronavirus cuts demand

  

  Sales of the Chevrolet brand fell 55 percent for the latest quarter in the world's largest auto market, while sales of the no-frills brand Wuling were down 34 percent. Cadillac's sales dropped 40 percent in the period.
  - 2 days ago 3 Apr 20, 2:08pm -
• Ford extends Europe production pause

  

  Ford's production restart plans depend on the coronavirus pandemic situation, national restrictions, supplier constraints and the ability of dealerships to operate, the company said.
  - 2 days ago 3 Apr 20, 12:27pm -