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Automakers rev up discounts to bolster sales dinged by coronavirus

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U.S. automakers are scheduled to report June and second-quarter car and light truck sales on Wednesday. The second-quarter numbers reflect a peak for the U.S. auto industry’s efforts to use consumer discounts, low interest loans and other incentives to prop up demand during the pandemic. Since March, U.S. automakers have rushed to prop up demand with rich incentives to keep sales moving.

Continue reading Automakers rev up discounts to bolster sales dinged by coronavirus

Automakers rev up discounts to bolster sales dinged by coronavirus originally appeared on Autoblog on Tue, 30 Jun 2020 07:30:00 EDT. Please see our terms for use of feeds.

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Ford will let you return your car if you lose your job

The coronavirus pandemic is far from over and many car buyers are still wary of the idea of buying a new car since no one knows how long this pandemic will last and how many people will lose their jobs. To help combat this, Ford has announced its new Ford Promise plan which buyers who […]

The post Ford will let you return your car if you lose your job appeared first on The Torque Report.

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Bubbles within bubbles as F1 teams gear up for season start

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Formula One teams will operate in bubbles within bubbles when the season starts behind closed doors in Austria next week after being stalled since March due to the COVID-19 pandemic. There will be no spectators, no sponsors or VIP guests wandering the paddock and limited social interaction even between team mates. Ferrari sporting director Laurent Mekies reckons the biggest challenge, for his mechanics at least, could be having to wear face masks at all times in the heat and tight confines of

Continue reading Bubbles within bubbles as F1 teams gear up for season start

Bubbles within bubbles as F1 teams gear up for season start originally appeared on Autoblog on Sun, 28 Jun 2020 09:00:00 EDT. Please see our terms for use of feeds.

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Italy reportedly guarantees $7.1 billion loan to Fiat Chrysler

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Italy has approved a decree offering state guarantees for a 6.3-billion euro (£5.7 billion) loan to Fiat Chrysler’s (FCA) Italian unit, a source said, paving the way for the largest crisis loan to a European carmaker. The source said Italy’s audit court had signed off on the decree, in a final step of what had been a lengthy and contested process to get the loan approved. FCA’s Italian division has tapped Rome’s COVID-19 emergency financing schemes to secure a state-backed, three-yea

Continue reading Italy reportedly guarantees $7.1 billion loan to Fiat Chrysler

Italy reportedly guarantees $7.1 billion loan to Fiat Chrysler originally appeared on Autoblog on Wed, 24 Jun 2020 08:32:00 EDT. Please see our terms for use of feeds.

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Subaru USA CEO Tom Doll Gets Specific About COVID and Post-COVID U.S. Sales Goals

After a streak of 11 consecutive years of U.S. sales growth for Subaru, a period in which the brand doubled its market share to 4.1 percent, “We’ll start a new streak next year,” the brand’s U.S. CEO Tom Doll says of 2020. At any other point in history, the declines reported by Subaru over the […]

The post Subaru USA CEO Tom Doll Gets Specific About COVID and Post-COVID U.S. Sales Goals appeared first on The Truth About Cars.

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