Nine automakers are joining forces in a new effort to solve one of the most vexing challenges facing dealerships.

A lack of clarity on the scope, requirements and timeline of the lending process has some dealers scratching their heads as they consult with bankers and tax advisers while struggling to keep their employees paid and businesses afloat.

The luxury brand says a two-tiered approach to the V-series and a handful of segment-first or exclusive features — such as a rear camera mirror, safety alert seat and ZF passive dampers — will help the car gain traction.

The dealership group, moving to preserve cash, is also reducing marketing and capital outlays, and suspending a 401(k) match for employees in response to a sudden drop in business because of the coronavirus outbreak.

The automaker said delaying the annual meeting, which was scheduled for April 16, would result in the postponement of a resolution on its $1.2 billion dividend based on last year's results.

In response to concerns over servicing vehicles while also maintaining social distancing, the automaker is giving customers more time to get service work done.

Former Transportation Secretary Ray LaHood, who oversaw the Cars Allowance Rebate System in 2009, supports a sequel if the auto industry, lawmakers and White House agree that light-vehicle demand needs a boost once the virus begins to abate.

The automaker's top executives hit only 54 percent of performance targets in a year when CEO Jim Hackett said execution was "simply not nearly good enough."

Sales of the Chevrolet brand fell 55 percent for the latest quarter in the world's largest auto market, while sales of the no-frills brand Wuling were down 34 percent. Cadillac's sales dropped 40 percent in the period.

Ford's production restart plans depend on the coronavirus pandemic situation, national restrictions, supplier constraints and the ability of dealerships to operate, the company said.