01 May Manufacturing Falls in April as Virus Ravages Economy WASHINGTON — U.S. manufacturing retreated again in April, a victim of economic fallout from the coronavirus outbreak. Read more...
01 May Bus Industry Seeks More Recovery Relief WASHINGTON — Lawmakers allocated $61 billion to airlines, $25 billion to transit and $1 billion for Amtrak in the roughly $2 trillion coronavirus rescue package, but the motorcoach industry, which includes charter buses, private transit buses and passenger buses, said it has been largely ignored. Read more...
01 May SUVs Parked at Sea Reveal Scope of US Auto Market Glut For the auto industry, which saw U.S. sales plunge almost 40% in March, the coronavirus crisis has left cars gathering dust on dealer lots, dealerships shuttered, auction prices slipping and tens of thousands of workers laid off or furloughed. Read more...
01 May U.S. Xpress Reports Net Loss, Increased Revenue U.S. Xpress Enterprises reported an increase in revenue for the first quarter of 2020, but its bottom line swung from a profit to a loss. Read more...
01 May Exxon Profits Drop as Most of World Stays Home NEW YORK — Profits fell at ExxonMobil as the global pandemic began to erode oil demand. Read more...
01 May Amazon Profit Falls as Pandemic-Related Costs Rise NEW YORK — Amazon’s sales soared in the first three months of the year, as more homebound people shopped online amid the coronavirus pandemic. Read more...
30 Apr Meritor Reports Fiscal Year Q2 Net Income Up, Revenue Down Meritor Inc. reported fiscal second-quarter net income rose and revenue declined. Read more...
30 Apr Detroit Divided Over What It’ll Take to Make Cars Again The safety measures that Ford Motor Co. has spent weeks preparing to resume North American production fell short of assuaging the United Auto Workers union, which could stand in the way of much of the industry’s plans to reopen. Read more...
30 Apr Dana Q1 Net Income Falls, Revenue Slips Vehicle component manufacturer Dana Inc. saw net income fall 62% and revenue decline in the first quarter amid a pileup of weakness in the heavy-duty truck market, curtailed production and the spread of the novel coronavirus. Read more...
30 Apr Eaton Q1 Net Income, Revenue Fall Eaton Corp. reported declines in first-quarter net income and revenue as the spread of the novel coronavirus pandemic more than doubled previously expected declines in sales. Read more...