Five things investors are watching as GM and Ford report coronavirus-ravaged earnings

  • 📰 CNBC
  • ⏱ Reading Time:
  • 47 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 72%

United Kingdom News News

United Kingdom United Kingdom Latest News,United Kingdom United Kingdom Headlines

The coronavirus pandemic brought the U.S. automotive industry to a standstill. Investors will see just how bad the damage is when all three Detroit carmakers report earnings this week.

Ford has obtained commitments from enough relationship banks to extend the maturity of at least 90% of $5.35 billion of revolving loans for one year.

United Auto Workers members leave the Fiat Chrysler Automobiles Warren Truck Plant after the first work shift, Monday, May 18, 2020, in Warren, Mich.A major concern for the automakers is Potential problems for the remainder of the year include increases in Covid-19 cases leading to full or partial shutdowns of plants; leveling or declining consumer demand; and parts shortages, amid other potential issues.Wall Street is anxious to hear whether the automakers have identified any additional cost-cutting opportunities as a result of the pandemic.

PSA CEO Carlos Tavares and FCA CEO Mike Manley shake hands after signing a combination agreement that will lead to the creation of the world's fourth-largest global automaker in terms of annual sales ."There's that one truth, right? Don't waste a crisis," Ford CEO Jim Hackett told investors when discussing the company's first quarter earnings

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in UK

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines