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Ford also says its white-collar employees who have been working remotely will return to the office starting in June.
Tesla reported a surprise first quarter profit though it did miss slightly on revenue expectations in the quarter.
Tesla’s main Fremont factory has been closed since mid-March, and will likely remain closed for another few weeks.
Tesla management said on a shareholder call that the price cuts will be accompanied by improved efficiencies at its Shanghai factory.
For the March quarter, Tesla reported revenues of $5.99 billion, up 32% year over year, and non-GAAP earnings of $1.24 per share.
Among the things to watch for in the first quarter report are commentary about deliveries expectations, Model Y demand and Chinese Model 3 sales.
Hertz is preparing for a possible bankruptcy filing, a report says, after the vehicle rental giant failed to make lease payments due to the coronavirus shutdown.
Ford Motor, hurt by the coronavirus along with the entire auto industry, swung to a first-quarter loss on 15% lower revenue.
Commentary about deliveries expectations, Model Y demand and Chinese Model 3 sales are among the things to watch as Tesla reports.
The carmaker is looking to reopen its Fremont factory very soon, which would boost its production outlook — but is likely to face pushback from local officials.
Tesla asks workers to be ready to clock in again, despite still-in-place stay-at-home orders.
AutoNation, the country’s largest auto dealership chain, returned its small-business loans but said it was “clearly eligible” for them.
Hertz, looking to cut costs during the coronavirus pandemic, will lay off 10,000 employees in North America.
Tesla’s first-quarter deliveries weren’t as bad as some had feared. Its full quarterly results will show how the coronavirus has impacted the company.
Joplin, Missouri, is offering Tesla $1 billion in incentives and savings to locate a new factory for the Cybertruck there.
Oracle was upgraded to overweight from neutral by JPMorgan, which calls the database-software and cloud-infrastructure giant a possible “relative safe haven” during an economic downturn.
Tesla will temporarily suspend operations at its Fremont, Calif. factory as part of a shelter-in-place order effective until at least April 7.
Ford suspended its dividend, withdrew its financial guidance to investors and analysts and offered payment relief to some new-car buyers, all in an effort to contend with the effects of the coronavirus pandemic.
Tesla joins GM and Ford in offering to make hospital ventilators in auto factories that have been shut by the coronavirus outbreak.
The move comes after the United Auto Workers union called on the Big 3 Detroit automakers to shut down production.
Shares of Tesla plunge after RBC Capital markets analyst Joseph Spak slashes his one-year price target on what he expects to be a sharp drop in demand.
All employees who can perform their work remotely have been asked to do so, except those in China, a media report says.
General Motors unveils its plan of more than $20 billion to charge up its electric and autonomous vehicle production.
Electric-vehicle major Tesla plans to expand car-parts-production capacity in Shanghai, a media report says.
AutoZone and other auto parts retailers are climbing after Credit Suisse said the sector has the least exposure to supply-chain disruption in China.