Fiat Chrysler Posts $1.8 Billion First-Quarter Loss

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Fiat Chrysler Posts $1.8 Billion First-Quarter Loss

As Q1 results come in, we’re getting a better idea of how automakers have been impacted by the coronavirus crisis. Automotive News reports that Fiat Chrysler just announced that it posted a $1.84 billion loss in the first quarter, as the crisis shut down dealerships and plants. FCA’s earnings before interest and taxes were just $56.3 million—95 percent lower than Q1 2019. The good news for FCA is that it should get back to making cars in North America soon. Automotive News reporter Vince Bond Jr. said that the company plans to reopen all its North American factories except one on May 18.

Hyundai/Kia Restart U.S. Production, While Toyota Pushes Back a Week

Unlike its Japanese rivals, Hyundai and Kia don’t have a huge U.S. manufacturing presence—each brand has just one plant here. Automotive News reports that, both plants reopened yesterday for one shift a day. Hyundai and Kia are only doing single shifts because supply chain constraints have impacted the amount of cars that can actually be built, and so that workers at both plants can adjust to new safety protocols.

Meanwhile, Toyota was supposed to restart North American production this week, but Wards Auto reports that the automaker has delayed that until next week.

Formula 1 Will Test Personnel for COVID-19 Every Two Days

Formula 1 wants to get back on track in early July, with plans to hold the Austrian Grand Prix behind closed doors. Last week, F1 sporting director Ross Brawn said the series is aiming to create its own safe “biosphere” for racing, and now, he’s revealing a bit more on how that’s going to happen. In short, testing. Autosport reports that F1 will test personnel at the track for COVID-19 every two days, and plans on imposing restrictions on interactions between teams.

“We cannot socially distance within a team, you can’t. So we have to create an environment within itself, that is effectively a small bubble of isolation,” Brawn said. “The teams will stay within their own groups. They won’t mingle with other teams. They’ll stay at their own hotels. There’s no motorhomes going to be there. We’ll make sure that respects all the requirements.”

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