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Groups representing major automakers and suppliers asked U.

S. lawmakers on Friday to consider new tax relief and delay the start of a new trade deal as auto sales decline as a result of the coronavirus pandemic.

The proposals come as major automakers are temporarily closing plants and cutting production. On Friday, BMW AG became the latest to announce a production halt.

The Alliance for Automotive Innovation — representing General Motors Co, Volkswagen AG
, BMW, Toyota Motor Corp and others — and the Motor & Equipment Manufacturers Association (MEMA) in a joint letter seen by Reuters backed “key actions” by U.S. lawmakers to help “ensure that sufficient liquidity remains available in the markets.”

The auto groups endorsed proposals supported by the U.S. Chamber of Commerce and others to create “credit facilities to provide loans and loan guarantees to employers with more than 500 employees experiencing loss of revenue due to COVID-19..."


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Major Automakers Band Together And Petition US Lawmakers For Coronavirus-related Aid

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