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Members of the Michigan congressional delegation are asking U.S. Treasury Secretary Steven Mnuchin to provide financial assistance to auto suppliers using existing funds within the $2.2 trillion coronavirus relief package signed into law in March. Many automakers and suppliers are gearing up for production to restart in Michigan, following Gov. Gretchen Whitmer’s announcement last week
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AutoNation Inc.’s first-quarter results were hampered by slower business and stay-at-home orders across most of its footprint amid the coronavirus pandemic, driving the auto retail giant to a net loss. The nation’s largest new-vehicle retailer said Monday that first-quarter revenues dropped 6.3 percent to $4.67 billion. Lower revenues and $315 million in after-tax noncash goodwill,
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Imagine turning 65, looking back and realizing that you peaked in your mid-teens and that you spent much of the last 50 years trying to once again taste the popularity of your youth. The so-far failed chase by this boomer has been both exhausting and expensive — including a stretch a decade ago spent with
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DETROIT — Liberated from its longtime slot in the deep freeze of January, the Detroit auto show had big plans for the 2020 event that were years in the making. It was supposed to be a summertime celebration for a transforming auto industry and a resurgent downtown. With just months to go before the new
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Dealership marketing company AutoWeb acknowledged this week it may have to return the $1.38 million loan it received in April under the U.S. Small Business Administration’s Paycheck Protection Program. The company advised with its first-quarter earnings this week that the federal government issued new guidance that large companies will have to certify their economic needs to
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