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Sonic Automotive Inc. has reduced its employee headcount by a third through terminations and furloughs amid the coronavirus pandemic and cut advertising and other expenses in an effort to save about $14 million a month, the company disclosed Wednesday.

The details are among the first cost-savings initiatives the nation's sixth-largest new-vehicle retailer has shared publicly during the crisis that has led to stay-at-home orders across the U.S. Sonic said all of its stores remain open for service and are offering "various levels" of vehicle sales depending on state and local orders.

Sonic did not provide specifics on how many employees were terminated vs. furloughed. At the end of 2019, Sonic had about 9,300 employees.

Sonic wrote down the value of its franchised dealership business by $268 million in the first quarter, citing a decrease in its stock market value and expected near-term business reduction. The write-down led to a fi…

BorgWarner is planning to resume limited production in early May at its Seneca, S.C., facility that was severely damaged by a tornado on April 13, the company said.

"We have teams on-site working on necessary repairs to the facility to make this happen in a safe and efficient way," BorgWarner spokeswoman Michelle Collins said Wednesday. "We appreciate the support of the Oconee community and the state of South Carolina, our neighbors and our customers during this time."

The parts factory was hit by a tornado in the early morning on April 13. A 77-year-old contract worker was killed at the time the tornado hit. Four employees also were at the plant at the time, but they suffered only minor injuries. Photos from the scene showed severe damage to the facility.

BorgWarner is telling employees that some workers will begin returning to work next week.

"Hello friends! The rumors are true ... we are officially restarting next week with LIMITED PRODUCTION…

SAN FRANCISCO -- Tesla Inc. shares have soared in spite of production shutdowns, likely demand disruptions and uncertainty about how soon the electric vehicle maker can begin to restore normal operations.

The advance puts CEO Elon Musk in position to receive the first set of stock options he’s eligible for as part of a pay package that set moonshot goals two years ago. Before he can cash in, the billionaire is advocating for the U.S. to reopen and may need to deliver earnings that keep investors bullish.

“Give people their freedom back!” Musk tweeted ahead of Tesla releasing first-quarter results Wednesday. “Elon Musk: FREE AMERICA NOW,” he wrote in another post.

If he can succeed in sustaining a market capitalization that’s now double the combined value of General Motors, Ford Motor Co. and Fiat Chrysler Automobiles, Musk is on the cusp of receiving options worth roughly $700 million on paper. But it’s unclear if he’ll be able to assure the market tha…

The Small Business Administration will conduct a "full review" of loans for more than $2 million through the Paycheck Protection Program before there is any loan forgiveness, Treasury Secretary Steven Mnuchin said Tuesday.

The announcement comes as a warning to big companies such as AutoNation Inc. and others that had tapped into the administration's $349 billion forgivable loan program designed to support small businesses. The program was recently replenished with an additional $321 billion after President Donald Trump signed a $484 billion spending package.

The Small Business Administration began processing additional loans through the Paycheck Protection Program on Monday. The program provides small businesses with money to pay employee payroll and benefit costs for eight weeks, plus certain other expenses such as rent. The loans can be fully forgiven if companies qualify.

"I think it is unfortunate that there's a small number …

British auto manufacturer McLaren Automotive Ltd. will recall more than 2,700 supercars, including its $1 million, 789-horsepower Senna model named after the legendary Formula 1 driver, over a fault that could increase the risk of a fire.

Most of the vehicles covered by the recall are McLaren’s 720S, GT and 570GT models, according to a notice posted on the National Highway Traffic Safety Administration’s website Tuesday.

A foam pad to dampen noise and vibrations mounted beneath the fuel tank on the affected cars may retain moisture, potentially causing corrosion over time and a possible fuel leak, according to the notice. While leaked fuel or vapors would be released away from ignition or heat sources, if left unaddressed the fuel could spill underneath the cars and increase the risk of a fire, the filing says.

Models without the foam pad in question are not included in the recall, according to the notice.

The callback covers 157 of McLaren’s Senn…

FRANKFURT -- Audi has abandoned plans to introduce its Level 3, eyes-off autonomous driving technology in its A8 flagship sedan, a senior executive told Automotive News Europe.

The feature, called Traffic Jam Pilot, was the most significant technological breakthrough added to the latest-generation A8 that debuted in 2017. At that time Audi said the system would only be activated in markets where governments allowed it.

Since then, global regulators in Geneva have still not agreed on a type approval process for even the most rudimentary Level 3 functionality. At that level a vehicle can be put in auto pilot under certain circumstances, allowing the driver to take his eyes off the road.

Given the various regulatory delays, Audi says it won't have sufficient time to make its Level 3 system compliant in the A8, whose facelifted version is due to arrive next year already.

"We will not see the Traffic Jam Pilot on the road with its originally planned Level…

Hyundai's most popular car in the U.S. — the Elantra — is getting more performance chops.

Hyundai is previewing the upcoming N Line trim of the seventh-generation compact sedan that debuted in regular gasoline and hybrid versions in mid-March.

The N Line version "adds N brand specific design elements, chassis upgrades and a turbocharged engine to the recently revealed 2021 Elantra," Hyundai said. The redesigned Elantra is slated to go on sale in the fourth quarter.

The 2021 model, which is longer and lower than the previous generation, carries a black-and-white camouflage wrap in the teaser images of the N Line prototype released Monday. A brief video shows the sedan being driven on a closed course.

The current-generation Elantra GT N Line hatchback comes with a 1.6-liter turbocharged engine making 201 hp. It's mated to a six-speed manual transmission and available with a seven-speed dual-clutch automatic. The current…

The American consumers' march toward light trucks is claiming another victim in car showrooms — this one a luxury nameplate.

Lexus, citing declining sales, is dropping the midsize GS sport sedan after four generations and three years shy of the car's 30th anniversary.

"We are constantly evaluating model mixes throughout our lineup," a Lexus spokeswoman said. "In the declining sedan segment, the GS family has represented a small amount of sales in the last few years."

Lexus will mark the end by producing 200 limited-edition Black Line GS 350 F Sports models, available in rwd and awd, for 2020.

The GS, introduced in 1993 to compete with rear-wheel-drive models such as the BMW 5 Series and Audi A6, was the fourth car to be added to the Lexus lineup after the LS full-size sedan, ES midsize sedan and SC coupes.

The front-wheel-drive ES is the brand's top-selling car, with U.S. deliveries of 51,336 last year. Read more

The 2.5-ton Bentley Arnage is unveiled before the public at the Sarthe Circuit in France, home of the 24 Hours of Le Mans, on April 26, 1998.

Bentley's newest flagship four-door sedan was designed by British designer Stephen Harper and powered by a BMW V-8 engine, with twin-turbos engineered by Cosworth. It was 212 inches long and 75 inches wide.

The Arnage and its Rolls-Royce-branded sibling, the Silver Seraph, were the first all-new designs for the two ultraluxury marques since 1980.

And for a short period, the Arnage was the most powerful and fastest four-door saloon — with a top speed of 180 mph — on the market.

A long-wheel base variant became available in 2000.

In 2001, The New York Times called the Arnage Red Label an "extraordinary motor car" with an exhilarating, steady surge of power.

"The look is powerful, from the mesh grill to the 18-inch alloy wheels, from the classic lines to t…

Joining the Jeep Gladiator lineup this year is the Mojave variant which is the first Jeep to get the brand's Desert Rated badge. The new rating is based on several pillars: ride control and stability, traction, ground clearance, maneuverability and desert prowess. The Gladiator Mojave comes with specially tuned Fox 2.5-inch internal-bypass shocks with external reservoirs, industry-exclusive Fox front hydraulic jounce bumpers, a reinforced frame, a 1-inch front suspension lift with a silver front skid plate, stronger axles with cast-iron steering knuckles, aggressive front seats with integrated upper bolsters and standard 33-inch Falken Wildpeak all-terrain tires. Here's a roundup of snippets of Gladiator Mojave reviews from the automotive media.

"While the changes Jeep makes to turn the Gladiator into a Mojave certainly help its off-road capability, they detract from its on-road manners, which were pretty compromised in the first place. The extra ride height makes ge…

Join Automotive News Publisher Jason Stein for a daily podcast series about the coronavirus crisis. He’ll speak with industry experts, insiders and Automotive News reporters about how the virus is impacting and reshaping the automotive industry.

Steve Lietaert, president of Hella Corporate Center USA, on how the auto parts supplier is bracing for market uncertainties; reprioritizing future projects and investments.

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