Morning Daily - 2020-03-28

ETAuto Newsletter | Saturday, March 28, 2020

Daily Newsletter
Policy | Industry | Passenger Vehicle | Commercial Vehicle | Two Wheelers | Aftermarket | People Movement | Auto Components
ETAuto Originals
• BS-IV inventory blues continue as we near the BS-VI deadline
• Covid-19: Auto dealers to incur double-digit losses in crores during the lockdown
• Tata Motors to hive off its passenger vehicle biz into a separate subsidiary
Top Stories
• SC allows auto dealers to sell 10% unsold BS-IV inventory for 10 days post-lockdown
• View: Who will pay the car industrys bills this time?
• RBI cuts repo rate by 75bps, maintains accommodative stance
• COVID-19 lockdown impact: Auto component industry takes a hit of Rs 1000-1200 crore each day
• Moody's sharply cuts global auto sales outlook on coronavirus fall-out
• Ashok Leyland cuts capex by 40% to Rs 1,200 crore for FY20
• Collapsing auto sector a body blow for industrial metals
• Covid-19: Tata Motors extends service warranty period to July 31
• Moodys cuts India growth forecast to 2.5%
• ACMA seeks relief measures for the component industry to tackle coronavirus impact
• Humsafar to provide doorstep fuel delivery to emergency services
• Kia Motors appoints Ho-sung Song as Global President
• What 3 month moratorium on repayment of term loans means for borrowers
• TVS Motor Company and Sundaram-Clayton to spend Rs 30 crore to fight Covid-19 outbreak
• Covid-19 fight: Trump orders General Motors to make ventilators under Defense Production Act
• ZF to focus on Next-Generation Mobility strategy in 2021
• Coronavirus: Abhay Firodia Group sets up Rs 25-crore fund for relief activities
• Inventory pile-up to hit steel cos profit HBL
• Moodys withdraws Motherson Sumi Systems Baa3 rating HT MINT
• Draft norms on vehicle recall suggest fine up to ?1 crore for defects Livemint
• Interest rates on home, auto loan and FDs to fall Livemint
• COVID-19 lockdown: Auto fuel consumption less than halves; no shortage of stock, say oil majors @businessline
• Another shockwave awaits China's factories @businessline
• Cuomo allows New York auto dealers to sell vehicles online Cbs6albany.com
• Toyota to make protective gear in US to aid coronavirus battle Nikkei Asian Review
• Virus May Give Online Car Buying A Shot In The Arm Forbes
• Western Europe's Auto Sales Will Be Relatively Hardest Hit, As U.S., Global Forecasts Are Also Slashed Forbes
• 12 Employee Wellness Initiatives That Actually Help Forbes
• Prominent CEOs Promise That They Will Not Layoff Workers In 2020 Forbes
• Hard-landing alert: Rivals in sky flock together as IndiGo, SpiceJet, et al. join hands for bailout ET Prime
Policy
• COVID-19: Foreign trade policy may get extended
Industry
• RBI monetary panel finalises steps to save economy from coronavirus
• India Inc sets up task forces as staff anxiety rises
• RBI to infuse Rs 3.74 lakh cr liquidity into financial system
• IMF chief Kristalina Georgieva: We have entered recession
• China's auto industry wastes no time coaxing drivers back to showrooms after lockdown
• Tesla to slash on-site staff at Nevada factory by 75% due to virus -county manager
• GDP likely to grow just 2% in 2020-21: ICRA
• Govt seeks suggestions from stakeholders on proposed amendment to motor vehicle rules
• Fed balance sheet tops $5 trillion for first time as it enters coronavirus war mode
Passenger Vehicle
• VW's Skoda extends Czech factory outages to April 14
• Ford recalls more than 268,000 Fiesta, Fusion, Lincoln MKZ over faulty door latch in US and Canada
• Ford, GM can ride out lockdown till September 2020
• UK carmakers face calm before virus storm: Industry
• Groupe PSA implements health protocol for resumption of work
• VW burning through $2.2 bln a week as coronavirus halts production: CEO
• Toyota to extend shutdown of North American plants
• Daimler in talks for 10 billion euro credit line
• Volkswagen extends production halt as demand sinks and supply chains falter
Commercial Vehicle
• DICV sells all existing BS-IV units
Two Wheelers
• Honda revisits CB series with a new CB-F concept
Aftermarket
• Logistics companies resume operations as government acts to clear cargo logjam
• Ola group donates Rs 20 crore, creates fund for drivers and their families
• Scheduled maintenance services, warranty renewals to be honoured despite validity expiration: Mahindra
Oil & Lubes
• The Worlds on the brink of running out of places to store oil
• Oil mixed as government pledges reach $5 trillion in coronavirus chaos
 
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