The automaker is eliminating facilities for battery-pack production and plastic components at its first European assembly plant, according to revised planning documents.
Prosecutors and police have searched seven sites as part of an investigation into Continental employees.
Second-quarter U.S. sales slumped 34 percent at GM and 39 percent at FCA US, reflecting sharply lower fleet and retail deliveries. GM warned "the path forward may not be linear" as COVID-19 infections continue to rise. June volume fell 27 percent at Toyota and 22 percent at Hyundai.
FCA US, blaming the economic havoc caused by the coronavirus outbreak, said second-quarter U.S. sales fell 39 percent, with every brand posting a decline of 21 percent or more. June volume was off 22 percent at Hyundai, the brand’s second-smallest monthly drop since the pandemic largely shuttered showrooms in March.
U.S. light-vehicle sales at Hyundai fell 22 percent in June, the brand’s second-smallest monthly drop since the coronavirus largely shuttered showrooms in March. Overall industry sales are forecast to fall 24 to 30 percent in June, based on several forecasts, with every automaker posting declines.
The Ineos Grenadier, due next year, is aimed at a gap in the market for a utilitarian off-road vehicle, says its backer, British billionaire Jim Ratcliffe.
While other automakers' shares have come back slowly, Tesla’s have soared, closing Tuesday at a record high of $1,079.81. The company’s market capitalization has shot up to $200.3 billion.
