COVID-19

COVID-19 forces auto industry to adapt

Sue Carpenter Apr 8, 2020
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Spencer Platt/Getty Images
COVID-19

COVID-19 forces auto industry to adapt

Sue Carpenter Apr 8, 2020
Spencer Platt/Getty Images
HTML EMBED:
COPY

Fueled by a booming economy, the auto industry had been on track sell 16.5 million new cars this year, according to Cox Automotive. But they’ve fallen sharply because of the COVID-19 pandemic. Dealerships are trying some different to lure customers with online sales, at-home deliveries, even “no-contact” test drives.

Click the audio player above to hear the full story.

COVID-19 Economy FAQs

What’s the latest on the extra COVID-19 unemployment benefits?

As of now, those $600-a-week payments will stop at the end of July. For many, unemployment payments have been a lifeline, but one that is about to end, if nothing changes. The debate over whether or not to extend these benefits continues among lawmakers.

With a spike in the number of COVID-19 cases, are restaurants and bars shutting back down?

The latest jobs report shows that 4.8 million Americans went back to work in June. More than 30% of those job gains were from bars and restaurants. But those industries are in trouble again. For example, because of the steep rise in COVID-19 cases in Texas, Gov. Greg Abbott, a Republican, increased restrictions on restaurant capacities and closed bars. It’s created a logistical nightmare.

Which businesses got Paycheck Protection Program loans?

The numbers are in — well, at least in part. The federal government has released the names of companies that received loans of $150,000 or more through the Paycheck Protection Program.

Some of the companies people are surprised got loans include Kanye West’s fashion line, Yeezy, TGI Fridays and P.F. Chang’s. The companies you might not recognize, particularly some smaller businesses, were able to hire back staff or partially reopen thanks to the loans.

You can find answers to more questions on unemployment benefits and COVID-19 here.

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