sales

Worldwide car registrations are set to fall this year as the coronavirus pummels the automotive sector, but gas guzzlers will find themselves taking a bigger hit than electric cars, according to a report. Registrations of combustion-engine cars will drop 23 percent in 2020, while electric car registrations will dip by 18 percent, according to analysts …

Whip out this PPE to whip the coronavirus real good. New wave group Devo has released a face shield made to look like their iconic Energy Dome hats, to both serve as vital personal protective equipment and honor the 40th anniversary of the tiered red cap’s debut. “The dome is solid and the attached shield …

US retail sales took a record plunge for the second straight month in April as the coronavirus crisis gutted the industry, new data shows. Sales by retail and food service merchants plummeted 16.4 percent last month to $403.9 billion, the US Department of Commerce said Friday. That’s worse than the 12 percent drop economists predicted …

Federal lawmakers are making a bipartisan push to bail out the auto industry as the coronavirus crisis causes car sales to plummet, a new report says. Midwestern representatives are circulating a letter to convince their colleagues to throw auto manufacturers and suppliers a financial lifeline in a future relief package, The Washington Post reported Wednesday. …

Carl Icahn’s rental car company Hertz Global Holdings has roughly three weeks to prove it can stave off bankruptcy, the company said on Tuesday. In a regulatory filing, the car rental behemoth said lenders have given it until May 22 to develop a viable financial structure that “better reflects the economic impact of the coronavirus.” …

General Motors said on Monday the automaker has suspended its quarterly cash dividend on its common stock and its share buybacks to save cash in the face of the coronavirus crisis that has severely hurt global automobile sales. Shares of GM were trading 1.3 percent lower in late-morning trading, at at $21.67. “We continue to …

US retail sales posted their sharpest drop on record last month as the coronavirus pandemic shuttered shops around the country, stark new data show. Retail and foodservice businesses raked in a seasonally adjusted $483.1 billion in sales in March, an 8.7 percent plunge from February’s revised total, the US Department of Commerce revealed Wednesday. That’s …

Ford said on Monday it expects to post a pre-tax loss of about $600 million for the first quarter as the coronavirus outbreak pummeled its sales and shuttered vehicle assembly plants, resulting in a 21 percent drop in vehicle sales to dealers versus the same quarter in 2019. The news sent Ford’s shares down more …

US new vehicle sales likely drove off a cliff in March as the coronavirus pandemic pounded consumer confidence and shuttered dealerships across much of the country, and sales are likely to take a further beating in April as social distancing guidelines remain in place. “When you look at March, we basically lost half the month,” …

Several automakers on Monday said US buyers of new vehicles will have the option to defer their payments and customers with existing car loans could ask for payment rescheduling if affected by shutdowns due to the spread of coronavirus. The move is also aimed at boosting new car sales during a time of uncertainty for …