Top Automotive Industry News for Week of May 4 - May 10, 2020

Here is the most important news associated with the automotive industry identified by the AEA for the week of May 4, 2020 - May 10, 2020.

We hope it helps you stay up to speed on the key developments in our industry:

-Automotive Manufacturing News-

Amid lockdown dispute, Musk says he will move Tesla out of California (Reuters)

Analyst says Ford needs to 'rip the Band-Aid off' after $2B loss: What he means (USA Today)

Ford announces a restart date, plans for workers to return in waves (Detroit Free Press)

Ford respirators on way to health care workers in Seattle (Detroit Free Press)

General Motors ekes out $294 million profit in the first quarter despite crippling production and sales from coronavirus (CNBC)

GM raises $4 billion in bond offering, expects to establish new $2 billion credit line (CNBC)

Mazda Motor seeks $2.8 billion in loans to ride out pandemic: source (Reuters)

Mexico auto plants to reopen even as country has its worst coronavirus day yet (autoblog)

Michigan governor to allow state’s auto manufacturing plants to reopen next week (CNBC)

Mourning their dead, Detroit area families weigh risks of autoworkers going back (The Detroit News)

New Breed of Pickups Mixes Horsepower and Battery Power (The New York Times)

Nissan Delays Restart of U.S. Operations (The Detroit Bureau)

US auto industry preps for restart – and it all depends on Mexico (USA Today)

-Automotive Evolution News-

Coronavirus Layoffs: Uber Cuts 3,700 Workers Amid Pandemic (Forbes)

Invisibility cloaks and air purifiers: How COVID-19 will change cars (The Detroit News)

Lidar Upstart Luminar’s Laser Eyes Are Moving Out Of The Lab And Into Self-Driving Volvos (Forbes)

Waymo’s Self-Driving Vans Ready To Roll After COVID-19 Shutdown–But No Robotaxi Rides (Forbes)

Zoox Looks To Be Sold (Forbes)

-Automotive Retail News-

Auto Lease Portfolios Will Lose Up To $3.6 Billion Due To COVID-19 (Forbes)

Carvana launches in 100 additional markets (Auto Remarketing)

Carvana shares tumble double digits on first-quarter losses (CNBC)

COVID-19 Cost Car Dealers $2.6 Billion In Profits But Worst Is Over (Forbes)

COVID-19 Valuation Services Update (J.D. Power)

High-Tech, Soft-Touch Transactions for Gen Z in F&I (Auto Dealer Today)

How used-car sales fared last week (Auto Remarketing)

Pickup trucks outsell sedans in US for the first time ever (The Detroit News)

Pickup truck sales rebound to pre-pandemic levels (The Detroit News)

Platform routes high-intent shoppers to dealer online retailing tools (Auto Remarketing)

Rental Car Companies Slash Order, Deliver Another Blow to Auto Industry (The Detroit Bureau)

What's to lose on a 0% car loan? Or 120 days of no payments? (USA Today)

With unprecedented deals, auto industry lures locked-down consumers (autoblog)

-Automotive Wholesale News-

Auction sales volume continues to climb (Auto Remarketing)

NAAA to launch auto auction 'playbook' for physical sales re-opening (Auto Remarketing)

-Automotive Ownership News-

Fuel Prices Suddenly Start Climbing Again As Shelter Orders Start to Lift (The Detroit Bureau)

Why this might not be the best time to get a good deal on a used car (MarketWatch)

-Automotive Servicing News-

US won’t seek recall of 56 million Takata air bag inflators (The Detroit News)

VW to Recall 370,000 Vehicles over Takata Airbags on a Five-Year Schedule (Car and Driver)

-General Business & Executive News-

A massive drop in car sales sparks new push in Congress to aid the auto industry (Washington Post)

AutoWeb Reports First Quarter 2020 Results (Autoweb)

CarGurus Announces First Quarter 2020 Results (CarGurus)

CARS Reports First Quarter 2020 Results (Cars.com)

Collapsing Auto Sales, Earnings Raise Talk of New Bailout – or Sales Stimulus – Program (The Detroit Bureau)

Cox Automotive to Furlough More Than 12,500 (The Banks Report)

KAR furloughs approximately 11K employees last month (Auto Remarketing)

TrueCar Reports First Quarter 2020 Financial Results (TrueCar)

Will auto marketplaces consolidate in the U.S.? (AIM Group)

-AEA Reminder-

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