Car Business Making a Comeback
Oct. 30, 2020—The U.S. auto industry is making a comeback in sales and profits since undergoing a huge dip throughout the onset of the coronavirus pandemic, reports The Wall Street Journal.
Fiat Chrysler recently reported record operating profits of $2.7 billion for its third quarter, while Ford Motor Co. reported a net income of about $2.4 billion. General Motors has yet to report numbers on Nov. 5.
To make up for the loss, a GM plant in Flint, Mich., where its largest pickup trucks are made, has employees working around the clock six days a week—and occasionally on Sundays—to restore depleted dealers stocks.
But with the rising numbers of COVID-19 cases as winter sets in, there's a concern that shutdowns may occur once again, especially with a rise in cases hitting major manufacturing states of Michigan and Ohio.
For now, according to the report, most plants are working at full capacity to meet high levels of demand. During the third quarter, auto makers built 4.1 million vehicles in North America in order to match the output in 2019.