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Ford delays North American production restart from coronavirus lockdown

Ford said on Tuesday it was postponing its plan to restart production at its North American plants due to safety concerns for its workers amid the coronavirus pandemic. To generate cash, the No. 2 U.S. automaker had said last week it was poised to restart production at some plants in North America as early as April 6, bringing back such profitable vehicles as its top-selling F-150 full-sized pickup, the Transit commercial van and SUVs. But on Tuesday, Ford said it had been aiming to resume production at several key U.S. plants on April 14, but would now instead do so at dates it would announce later on. "The health and safety of our workforce, dealers, customers, partners and communities remains our highest priority," Kumar Galhotra, president of Ford's North American operations, said in a statement. Still, the automaker will open a plant in Ypsilanti, Michigan, during the week of April 20, that will make ventilators to treat patients afflicted by the coronavirus. Rival Fiat Chrysler Automobiles said last week it plans to resume production in North America on April 13. General Motors has shuttered its plants indefinitely and has not provided a date for vehicle production to restart. It is facing a delay in the production launch of its redesigned large SUVs and is delaying work on other SUVs. "Once it is safe to resume production, we will do so," a GM spokesman said. As of Monday, Volkswagen was shooting for an April 5 reopening at its Tennessee plant. Honda, Nissan and Subaru facilities in North America will remain closed through April 6, and Hyundai through April 10. Toyota was planning to reopen its North American plants April 17. Plants/Manufacturing Chrysler Fiat Ford GM coronavirus

Treasury says auto bailout tally drops to $20.3 billion

In December, the US Treasury announced that it was going to sell all of its shares in General Motors within 12 to 15 months. The first tranche of the 500-million total shares was purchased by GM, which took 200 million of them at $27.50 per share. That price represents an eight-percent premium over the market price at the time. The remaining 300 million shares will be sold "through various means in an orderly fashion."
Of the $418 billion disbursed through the Troubled Asset Relief Program (TARP), a report in Automotive News indicates that "about 93 percent" has been paid back, and the latest figures put Treasury's loss from the program overall at $55.58 billion. That's a $4.1 billion improvement on the last figure, when the expected red ink added up to $59.68 billion. The auto industry's portion of that loss is estimated to be $20.3 billion, a 16-percent drop from the earlier estimate of $24.3 billion.
The Treasury now owns 19 percent of GM, but if all goes well, there will be no more cause for anyone to utter "Government Motors" by the end of Q1 next year. A loss of some kind is still expected, however. Although GM's stock price is close to $29 at the time of this writing, that's still $4 below its IPO price and well below the $72 share price necessary for the government to come out even on its GM investment. On second thought, maybe the ribbing will continue.

The 2017 Pacifica Hybrid is finally heading to dealers after delays

Did you order a Chrysler Pacifica Hybrid some time ago? Chances are you might be getting it soon-ish. Production of the hybrid Pacificas started way back in December, but for an undisclosed reason FCA chose not to ship the finished cars to dealers. It hints of a hitch somewhere in the production, but perhaps it's best for the manufacturer to get the cars right the first time rather than face customer wrath. Detroit Free Press says the minivans started shipping to dealers on Monday, after months of delays, and that there have been 700 orders for the Pacifica Hybrid by April 7th. As a FCA representative said to DFP: "As with all launches, but particularly in the case of this technically advanced vehicle, we are taking great care to ensure that the Pacifica Hybrid comes off the line with the highest quality possible. We will only introduce a vehicle when we are fully satisfied the vehicle meets or exceeds customer expectations." FCA hasn't disclosed how many of the delayed hybrids have been shipped. Any customer who has ordered a Pacifica Hybrid before March 30 th is eligible for either a Visa gift card worth $500 or a 240-volt Level 2 charger, which should charge the van's li-ion batteries in two hours. The Pacifica Hybrid is the first plug-in hybrid vehicle in its class, and it reportedly has a range of 566 miles, returning 84 mpg. Related Video: News Source: Detroit Free PressImage Credit: FCA Chrysler Minivan/Van