Morning Daily - 2020-03-02

ETAuto Newsletter | Monday, March 2, 2020

Daily Newsletter
Policy | Industry | Passenger Vehicle | Commercial Vehicle | Two Wheelers | Aftermarket | People Movement | Auto Components
ETAuto Originals
• February car sales in red as coronavirus aggravate woes
Top Stories
• M&M in talks with Ashok Leyland, peers to supply electric powertrains
• Maruti, Hyundai, Toyota say production schedules unaffected so far by coronavirus outbreak in China
• Reasons why Hero Motocorp is a defensive bet
• Rs 18.50 cr GST default by vehicle dealer
• Truckers pay nearly Rs 48k crore a year in bribes, finds survey
• GST collections for February stand at Rs 1.05 lakh crore, fall short of target
• Harley-Davidson CEO exits as iconic bike brand struggles
• Virus impact: Crude fall to bring smaller oil import bill for India; dip likely to sustain
• JSW Steel gets a breather as SC set to hear Bhushans plea on March 6 HBL
• BPCL valuation high, evaluating bid: Anil Agarwal HBL
• The objective is to create an ecosystem that proactively engages with financial sector players and banks, says Shaktikan HT MINT
• As Coronavirus Hits China's Car Sales, Auto Makers Take Show Online WSJ
• Singapore And Autonomous Vehicles - Interesting Lessons In Governance, Planning, And Safety Forbes
• Tesla starts shipping Model Y truckloads out of the factory Electrek
• Geneva's cancellation another blow to car shows Automotive News
• Coronavirus is a major wake-up call for U.S. auto industry Automotive News
• How Coronavirus Is Creating A Watershed Moment For Remote Work Forbes
• People Are Asking For Mental Health Help At Work. Now What? Forbes
Monthly Sales Report Card
• Maruti reports 1% decline in February sales at 147,110 units
• Hyundai sales dip 10 per cent in Feb to 48,910 units
• Tata Motors domestic sales dip 34% at 38,002 in February
• Mahindra February sales plunge 42% at 32,476 units
• Honda Cars February sales down 46% at 7,269 units
• MG Motor India retails 1,376 units in February 2020; hit by Coronavirus
Industry
• Multiple income tax slabs in line with global practice
• China factory activity dives to worst on record as coronavirus paralyses economy
• Nippon Steel braces for downside risk as coronavirus spreads
• Govt to give major boost to MSME sector: Gadkari
• Aluminium, Zinc rise after multi-year lows
• Bank credit growth dips to 8.5 pc in January: RBI data
• Coronavirus may contract China GDP by 6%: Pimco
• Labour ministry keen to retain 8.65 pc interest rate on EPF deposits for 2019-20
• India Inc gradually shifting to recruiting firms for quality talent: Study
• India can fill up export market space vacated by China due to coronavirus: Assocham
• With GDP growth at 7-yr low, FinMin says slowdown has bottomed out
• Luxembourg becomes first country to make public transport free
• Japan sends vice justice minister to Lebanon on Ghosn case
• How India went from marginal uptick to slowest growth in 7 years
• Larger trade deal to have better outcome: US-India Business Council
• USTR vows to push for trade deals with Britain, EU; seeks reforms at WTO
• Manufacturing falls to historic low in China
• Indian govt had no outstanding loans from RBI in week to Feb. 21
• Chinese expats may not get back to India jobs
• Fight the virus first, worry about stimulus later: Raghuram Rajan
Passenger Vehicle
• Chinese cities offer incentives to revive car sales after coronavirus hits market
• Used cars keep Africans moving, but dumping concerns remain
• Toyota plans new $1.2 bn EV plant in Tianjin with FAW
• VW agrees to $912 million payments for Germans who sued
• VW offers to buy out minority shareholders in Audi
• Workers protest at proposed PSA car plant near Chennai
Commercial Vehicle
• Punjab amphibious bus runs into Rs 8.63 cr loss
• Transport dept mulls 200km-long elevated corridor for transit system
• Country staring at shortage of truck drivers as most disillusioned by career want a different life for kin: Study
• Traton aims merger of MAN SE and Scania into a single company
Two Wheelers
• Want to take your two-wheeler in train? Get pick-up facility of SWR
• Haryana centre to skill women for jobs in auto sector
Aftermarket
• Coronavirus wipes up to 70 mln euros off Deutsche Post's Feb earnings
Auto Components
• India's crude steel production drops 3 pc to 9.3 MT in January: Report
• Small miners hungry for fresh capital despite rampant EV enthusiasm
• Tesla gets approval for 1 GWh megapack battery project with PG&E
• Aluminium and zinc hit multi-year lows as coronavirus spreads
Tyres
• Maxxis bets big on India as it eyes to enter top 5 global tyre maker list
• ZF Test Systems develops new tread wear tester to reduce emissions
Oil & Lubes
• Indian Oil ready to launch BS6 fuel in Tamil Nadu from April 1
• Crude oil may remain soft until China demand revives
• Oil prices fall as coronavirus spreads outside China
• Haldia Petrochemicals, ExxonMobil keen to set up shop in AP
• Coronavirus to cut 2020 oil, gas investments by $30 bln
 
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