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  • Let's move on now to the shockwaves across the auto industry.

  • Nissan and Fiat Chrysler joining Ford, Honda, Toyota and GM in slamming the brakes on production temporarily due to the pandemic.

  • So widespread factory closings in a number of states due to market conditions and efforts to deep clean those facilities.

  • But, you know, then we're talking about a lot of people losing their jobs and then still facing a car payment on top of that.

  • So we want to tell you you have options and ABC CEO Benitez joins us now.

  • With that, so many people are gonna be listening very closely to what you have to say, Geo.

  • Yeah, and we've been looking at what automakers are doing right now because a lot of them are actually offering these deferred payments, whether you own or whether you lease a car.

  • Here's what we're finding right now.

  • Hyundai is offering a deferral of up to six months.

  • If you lose your job because of covert 19 and you got or you're getting a car anywhere between March 14th and April 30th.

  • Nissan Toyota GM, Fiat, Chrysler.

  • They say they're handling this on a case by case basis and Ford just telling us that it's actually offering up to six months of payment relief.

  • Now, in fact, Ford has actually released this commercial.

  • You're looking at it right now.

  • And that ad focusing on what it's done in the past, they say that they are gonna help you, but you're just gonna have to call and find out if you qualify.

  • Now, a lot of these companies, they're also offering 90 day deferred payments.

  • If you're buying a new car, great, if you really need one right now.

  • But remember, these are uncertain times.

  • So you really need to think about whether you're gonna go ahead and get a new loan now.

  • Yeah, And for people who have lost a job, we have nowhere to go.

  • Some people need to get rid of their car.

  • Of course, you could always sell it.

  • But what if you have a lease that's not necessarily an option?

  • So least trading is an option.

  • You still want to go ahead and call your lender first.

  • That's the first thing, but least trading is actually an option, and you can go online.

  • There's some reputable companies that are doing that right now, but that's an option, and it's very popular, all right?

  • And there is word this is interesting that the Big Three could be playing a new role in fighting against this virus.

  • Tell us how you, S, o, g, m and Ford are actually telling us that they are actually looking into the possibility of producing different medical equipment producing ventilators.

  • They actually have a long history of doing this in the past during times of crisis.

  • Now they say they're ready to help again, much like a wartime.

  • And we are certainly at war against the Corona virus.

  • Geo Benitez.

  • Thank you.

  • Hi, everyone.

  • George Stephanopoulos here.

  • Thanks for checking on ABC News YouTube channel.

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Let's move on now to the shockwaves across the auto industry.

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