2005 Ford F-350 on 2040-cars

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There's an impending shortage of new trucks in America's heartland

URBANDALE, Iowa — Jerry Bill is worried the novel coronavirus could hurt business at the Des Moines auto dealership he runs, but not because of a shortage of buyers for the big Ram pickups on his lot. "Our biggest issue will be if we don't get more inventory," said Bill, general sales manager of Stew Hansen Chrysler Dodge Jeep Ram, which sells around 2,700 new vehicles a year in Urbandale, a suburb of Iowa's capital Des Moines. After a drop in sales in April when consumers stayed home, Bill expects pickup truck sales to end May similar to where they were a year earlier. And if demand remains strong, Bill said he will run out of popular models in June. Fiat Chrysler began slowly restarting Ram truck assembly lines on Monday after a two-month shutdown. The U.S. economy contracted in the first quarter at its sharpest pace since the Great Recession of 2007-2009 because of lockdown measures aimed at slowing the spread of the coronavirus. Economists warn the second quarter will be much worse. Still, far from the lockdowns of states like New York, Michigan or Ohio, dealerships like Stew Hansen have provided FCA and Detroit rivals General Motors and Ford a rare bright spot: strong sales of pickup trucks in America's heartland. Overall U.S. sales of cars and light trucks crashed to the weakest pace in 50 years last month. But sales of big Detroit brand pickups, particularly in southern and western states less affected by the outbreak, significantly outperformed the market, industry executives and analysts said. Pickup trucks are one of the most profitable automotive segments in the world. They account for a huge portion of the Detroit automakers' profits and formed a huge lure for Peugeot, which expects to merge with FCA by early 2021. The pressure is now on to boost pickup truck production and send vehicles to dealers in parts of the country with dwindling supplies. That is particularly true for GM, which is running short of certain truck models after losing 40 days of production to a strike last fall. "If you don't have what someone wants, they can choose to go to another brand," said Cox Automotive analyst Michelle Krebs. 'Easiest swap ever' Detroit automakers in March rolled out large discounts — such as interest-free loans for seven years — to keep vehicles rolling off dealer lots.

Win a sports car 2022 | The best giveaways this week

Autoblog may receive a share from purchases made via links on this page. Pricing and availability is subject to change. No donation or payment necessary to enter or win this sweepstakes. See official rules on Omaze. The feeling of getting a new car is wonderful. Winning that new car, or even better, your dream car, feels even better, or so we would imagine. And Omaze is here with a chance to experience that feeling. You’re probably asking yourself, what does it take to win? First of all, according to Omaze, "no donation or payment is necessary to enter or win this sweepstakes." $10 will get you 100 entries in this sweepstakes, while $50 will get you 1,000 entries and $100 will get you 2,000 entries. The best part? Each paid entry raises money for a worthy cause. See more about these causes at Omaze. Here are our favorite vehicle giveaways weÂ’ve found online this week. 2021 Ford Mustang Mach-E GT Performance Edition - Enter at Omaze Regardless of what you think about Ford using the name Mustang for an electric crossover, one thing is for certain, the Mustang Mach-E GT is an impressive piece of machinery. Here are some numbers for you: 480 horsepower, 634 lb-ft of torque, 0-60 in 3.5 seconds and 260 miles of range. Price? Well, thatÂ’s really up to you, because if you enter to win this Mach-E GT. it can be as low as $0. Here are the specs of the Mach-E in question, according to Omaze: Maximum Seating: 5 Engine: fully electric motors Drivetrain: eAWD Exterior Color: Rapid Red Metallic   Interior Color: Black Maximum Horsepower: 480 hp  Maximum Torque: 634 lb-ft Acceleration: 0-60 in 3.5 seconds Range: 235 miles Approximate Retail Value: $75,500 Cash Alt: $56,625 Special Features: GT Performance Edition; panoramic fixed-glass roof; Ford Co-Pilot360™ Active 2.0 and 360-degree camera; Brembo brakes; RTR Design Package including 20” RTR Aero 5 wheels, Nitto NT555 G2 tires and RTR Speed Block graphics Win a Restored 1969 Pontiac GTO - Enter at Omaze Joel Stocksdale, News Editor: There are an awful lot of ways to build a restomod. And a lot of those ways can be boring or tasteless. This one is neither. This is a seriously classy Pontiac GTO. Under the hood is a 461 cu. in. V8 from Butler Performance that's based on an actual Pontiac V8, not just another Chevy engine. The whole thing is subtle with a low-key metallic green and clean gray wheels. There isn't any overly flashy chrome or decals.

Ford, Renault, VW shareholder oppose French aid for PSA/Peugeot-Citro"en

Pots and kettles, glass houses and stones - that's a little of what we appear to have going on in the European car market. New reports say that that three European automakers have registered their opposition to a loan deal that PSA/Peugeot-Citroën is working on with the French government. Peugeot's finance arm, Banque PSA Finance, is struggling with its debts and has been downgraded by Moody's to its lowest investment-grade classification, one step above junk. This makes it more expensive for a potential buyer to finance a car through Peugeot. The last thing Peugeot needs is more difficulty selling cars in the tough European market, and the situation will only worsen if the bank's credit worthiness takes another hit.
A deal being worked on would have the French government offer €7 billion ($9B U.S.) in bonds to guarantee the bank's loans, which would give the institution some breathing room to manage its debts and lower its interest rates. Outside of that, a group of banks would provide other, non-guaranteed loans to the bank to further help its position. In exchange for state help, though, the government wants seats on Peugeot's board for worker representatives and a government liaison, along with factory and worker guarantees. The Peugeot family would maintain control of the company.
So what we have is government assistance being provided to a car company's finance arm, akin to the way General Motors' GMAC (now Ally Financial) and Chrysler Financial got help in their time of need. What we also have is Ford and Renault, and Germany's State of Lower Saxony, the second-largest shareholder in Volkswagen, voicing their concern about the proposal, because they say it could create an unfair competitive advantage for Peugeot. Everyone in Europe's down market is fighting for every sale, and if Peugeot gets help to keep its auto loan costs down, it figures to help buyers choose Peugeot or Citroën.