Categories
Top Cars

FCA to defer 20% of salaried workers’ pay; Manley to take 50% cut

DETROIT — Fiat Chrysler Automobiles is deferring 20 per cent of salaried workers’ pay from April via June and CEO Mike Manley will have his income lower by half as the organization deals with the fallout of the coronavirus pandemic.

Manley stated in a note to staff Monday that, commencing April 1, he will receive half his normal pay for the following a few months. The other 19 customers of FCA’s Team Government Council will consider a 30 per cent lower.

FCA Team Chairman John Elkann and other customers of the board of directors will receive no compensation for the

Read More
Categories
Car and Auto News

U.S. to finalize fuel efficiency rewrite through 2026

Courtroom battles will leave automakers in limbo. The fate of vehicle emissions benchmarks may perhaps rest on who wins the Nov. 3 presidential election. Democratic candidate Joe Biden vows to toughen fuel economy benchmarks to be certain “one hundred% of new product sales for light- and medium-obligation motor vehicles will be electrified.”

U.S. Sen. Tom Carper, D-Del., the major Democrat on the Natural environment and General public Works Committee, said, “This lawfully flawed rule implies more uncertainty and more litigation. This rule will not deliver regulatory aid to automakers, it will do just the reverse.”

The Obama benchmarks, adopted in

Read More
Categories
Automobile

Scooter company Bird to lay off 30 percent of staff amid COVID-19 uncertainties, report says

The shorter-phrase future of mobility providers, from ride hailing to shorter-phrase car or truck rentals to scooters, is rocky as some customers quickly stray from use of shared transportation.

Scooter suppliers have been pulling out of numerous markets around the globe as the pandemic proceeds to unfold, which has instigated a needed tightening of operations.

As riders cut down use of these providers less than remain-at-household orders in many markets across the world, some businesses are reducing their fleets or doubling down on cleansing just to remain afloat.

Hen introduced a memo before in March about increasing the day by

Read More
Categories
Auto Classifieds

Penske Automotive to cut executive pay, furlough employees, postpone capital expenditures

Penske Automotive Group stated it is slashing government pay, furloughing staff, suspending $a hundred and fifty million in funds expenses and using a selection of other ways to “to assistance mitigate the fiscal and operational affect of COVID-19.”

CEO Roger Penske and President Robert Kurnick will accept no income for the length of the coronavirus outbreak, though executives and administrators across the enterprise also are using pay cuts, Penske spokesman Anthony Pordon stated Monday. Pordon stated Penske was not disclosing how numerous staff would be furloughed, nor how numerous would see reductions in compensation, or how considerably. The enterprise also

Read More
Categories
Automotive Industry

The Formula 1 Versus Formula E Debate

Like everything somewhat new, Components E has taken a tiny when to build an audience. Now that popularity proceeds to improve for this electrifying collection of motor racing, there’s inevitably a great deal of Components 1 purists delighted to get aim, vital that it’ll never ever be as excellent as their most well-liked choice. However, each have their merits and for each and every criticism, there’s a properly excellent counter-argument at hand.

Driver Talent

There is generally some sizeable debate suggesting that Components 1 drivers are, generally speaking, a lot better and much more very skilled than Components E drivers.

Read More