Category Archives: economy

Cooper Tire Stops Manufacturing in the Americas

Cooper Tire & Rubber Company today announced it will shut down its tire manufacturing facilities in the United States and Mexico to protect the health and safety of employees and respond to market demand that has been declining by the coronavirus pandemic as the U.S. heads into a recession. Continue reading

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Ford Britain Shuts Dagenham and Bridgend Engine Plants

This means production at Dagenham Engine Plant in east London will temporarily cease from Monday, March 23. Bridgend Engine Plant in South Wales will temporarily cease production from the end of the day on Wednesday, March 25. Continue reading

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Ford Motor Company Stops South American Production

Effective from 23 March in Brazil and 25 March in Argentina, this action “adjusts the production volumes to the lower consumer demand due to this unprecedented situation.” Continue reading

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Ford Motor Maxes Out Lines of Credit

The cash from these borrowings will be used to offset the temporary working capital impacts of the coronavirus-related production shut downs and to preserve Ford’s financial flexibility. Continue reading

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Corona Marketing – Ford ‘Built to Lend a Hand’

Ford and its U.S. dealers are offering customers who are dealing with their own challenges from the coronavirus six months of payment relief for new-car buyers under the new “Built to Lend a Hand” program. Continue reading

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Nissan Stops US production as COVID-19 Expands

Currently, there are no confirmed cases of COVID-19 coronavirus at any Nissan facility. Continue reading

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General Motors to Stop North American Production

General Motors executives have finally done the sales and public health math and listened to the UAW and Unifor labor groups and confirmed it will begin a systematic suspension of manufacturing operations in North America due to market conditions and to deep clean facilities and continue to protect people. The suspension will last until at least March 30. Production status will be reevaluated week-to-week after that. Continue reading

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Ford Stops North American Production

The UAW had urged immediate closings this past weekend, but Ford executives refused to do so during the formation of a Coronavirus Task Force along General Motors and Fiat Chrysler management. Continue reading

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Rolls-Royce Motor Cars to Suspend Production

In order to further secure the health and welfare of the employees of the company this suspension will be followed by an already-planned two-week Easter maintenance shutdown. Continue reading

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Porsche Stops Production Due to The Coronavirus

In addition to suspending production, Porsche has decided on a number of “intensified” measures: there is a ban on business travel, for example, ‘mobile working’ has been greatly extended, and meetings will now take place only by video or conference calls. Continue reading

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COVID-19 – Agnelli Companies Respond to the Crisis

In a statement issued today in response to the COVID-19 pandemic, the Agnelli Family and its Companies have put in place a series of measures, in coordination with the Italian Civil Protection Department. Continue reading

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China – Future Export Base for Global Markets?

Although export volumes were stable in the last two years, the sector has experienced significant structural shifts. In 2019, non-Chinese brands accounted for 38% of the export market, compared with 30% in 2018. Data for 2010 and 2016 show that overseas OEMs accounted for just 11% and 19% of China’s exports, respectively. These figures, says LMC,  indicate the growing proportion of vehicles built in China by foreign automakers being shipped overseas. Continue reading

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COVID-19- Daimler Stops Most Production in Europe

Given the ongoing spread of COVID-19, the economic effects on Daimler cannot be adequately determined or reliably quantified at this time. Continue reading

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COVID-19 – Ford Suspends European Production

While it is hoped this action will only be required for a short period, the exact duration depends on a number of factors. Continue reading

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COVID-19: UAW, GM, Ford, FCA to Improve Protection for Manufacturing and Warehouse Workers

In a joint statement, GM, Ford and FCA said, “This is a fluid and unprecedented situation, and the task force will move quickly to build on the wide-ranging preventive measures we have put in place. We are all coming together to help keep our workforces safe and healthy.” Continue reading

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