FORD DOWN GRADE
Fitch Ratings on Monday downgraded Ford Motor Co. to one notch
above non-investment grade with a negative outlook as the new
coronavirus pandemic causes the Dearborn automaker to shut down
plants around the world. Ford now is rated "BBB-."
Although the Blue Oval has strong liquidity, according to the
rating agency, it expressed concerns that the COVID-19 outbreak
will lead to extended plant closures and harm demand.
Source: The Detroit News
AUTO SHOPPING DROPS 25% FIRST HALF OF MARCH
Overall automotive shopper volume for the first 15 days of March
was off 25% compared with the same period in 2019, according to
Comscore, an analytics company and market-data provider. It saw
declines in all but one vehicle segment. Full-size pickup shoppers
remained ahead of last year's pace, likely buoyed by incentives
and personal use needs. "For the first half of March 2020,
which includes the beginning of self-quarantines and social
distancing, in-market
