Automaker stocks are enduring their worst period since the financial crisis and the bankruptcies of General Motors and Chrysler. The selloff has been provoked by widening concerns about the COVID-19 coronavirus outbreak globally.
REUTERS/Rebecca Cook/File Photo
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GM, Ford, Fiat Chrysler Automobiles, Tesla, and Ferrari have all declined in the past week, calling into doubt an auto sales boom that in the US has produced five consecutive record- or near-record sales years.
However, throughout the US industrial heartland, factories continue to operate. None of the Detroit Big Three has curtailed manufacturing, nor has Tesla.
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See Also:
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- Airlines may soon stop flying near-empty 'ghost flights' thanks to a potential European Commission rule change