Ford

The auto industry was devastated this spring by coronavirus shutdowns. But the recovery has been much faster and stronger than anyone anticipated as demand for new trucks and SUVs continues.

The ventilators will be delivered to the national stockpile by August. The contract, worth nearly $500 million, is the first ventilator order placed using the Defense Production Act.

For nearly two years, car enthusiasts have been trying to figure out what Ford meant when it said its new electric SUV was "Mustang inspired." On Sunday, they'll find out.

The Trump administration says only the federal government can set tailpipe emissions standards. It's the latest move in a months long standoff over efforts to weaken a key Obama-era climate rule.

About 7,000 white-collar jobs are being eliminated as part of Ford's massive organizational restructuring. The automaker says it will save $600 million per year as a result.

The automaker says it is not yet clear how many people will lose their jobs. The cuts come during a time of turmoil for the car industry, as automakers invest heavily in new technology.