Morning Daily - 2020-04-04

ETAuto Newsletter | Saturday, April 4, 2020

Daily Newsletter
Policy | Industry | Passenger Vehicle | Commercial Vehicle | Two Wheelers | Aftermarket | People Movement | Auto Components
Top Stories
• M&M rejects proposal to inject fresh equity in SsangYong
• About 15% EV dealers to shut shop post lockdown
• Coronavirus: S&P downgrades Tata Motors ratings, outlook stable
• Opinion: What automobile dealers need to do during lockdown?
• COVID-19: Supply chain shock will have a negative impact on domestic auto component industry
• Global two-wheeler market to grow to 62.6 million by 2025: Report
• Two-wheeler makers' huge BS-IV inventory will not go away post lockdown @businessline
• How to use idle plants, supply chain: Maruti, M&M, Tata are driving in with face masks, ventilators ET Prime
• ADB warns the global cost of Coronavirus crisis could top $4 trillion
• Undertaking several initiatives to help employees: Maruti Suzuki @businessline
• ONGC to lose Rs 4,000 cr on new gas price; seeks freeing of gas prices
• Cummins slashes CEO pay, cuts employee salaries on coronavirus hit
• Auto sector needs govt help to sail through covid-19 crisis: Apollo Tyres MD Livemint
• Grappling With The Auto Industry's New World During COVID-19 Forbes
• Tesla is dismissing contractors from its California and Nevada factories CNBC
• FCA postpones shareholders' meeting to late June Automotive News
• Liquidity at nominal rates will boost economy, says Jindal Stainless MD @businessline
• Demand for consumer goods keeps logistics platforms going @businessline
• Hyundai Motor Group Faces Turbulent Times As Coronavirus Drags Down Sales Forbes
• Jobs Lost, Jobs Gained: Winners And Losers In The Coronavirus Market Forbes
• Five Ways HR Can Help With Business Continuity In Times Of Crisis Forbes
Monthly Sales Report Card
• Bajaj Auto sales down 38% at 2,42,575 units in March 2020
• Suzuki Motorcycle posts 5.7% rise in sales in FY20
Industry
• After $1 billion package, World Bank lines up more for India
• Coronavirus impact: Lockdown hits business activity across Europe
• Coronavirus impact: NBFCs write to FM for 3-month moratorium
• Forex reserve surges by $5.65 billion to $475.56 billion
• Employment falls 701,000 in March amid coronavirus: US Government
• India, China trade declines by 12.4 per cent in first two months of this year amid coronovirus outbreak
• Fitch slashes India growth forecast to 30-year low of 2% for FY21
• World Bank approves $1 billion aid to India to fight Covid-19
• RBI reduces trading hours for currency, debt markets
• GM rolls out safety protocols for ventilator-making workers
• China's Hebei approves $1.2 bln hydrogen production and consumption projects
• Tata Sons chairman N Chandrasekaran reassures employees, says we are there for you
• Work-from-home going to stay, even after Covid-19 scare is over
Passenger Vehicle
• Ford CEO Hackett's salary fell to $17.4 million in 2019
• Coronavirus crisis: BMW in dash for cash as German car sales plummet
• Czech car registrations slump 36% in March as coronavirus strikes
• UK car sector warns: supply companies need cash immediately
• Aston Martin DBX, Ferrari Roma & McLaren Elva: Hottest cars of 2020 that turned cold due to Covid-19
• Ford says Europe manufacturing ops to remain suspended at least until May 4
• Toyota bids farewell to Etios, Corolla Altis in India
• Tesla sees strong Model Y production, deliveries; shares rise
• China's Dongfeng reviews PSA stake sale after price fall
• Ford says post-crisis support for U.S. customers 'would be appropriate'
• Uber to start shipping car disinfectants to drivers
• Honda extends North American auto plant shutdowns
• General Motors, Honda to jointly develop two new electric vehicles
• MG Motor announces hunt for affordable ventilator to help fight coronavirus
Two Wheelers
• Gujarat: Suzuki Motors, Rajkot firm close to making ventilators
• MV Agusta donates Covid-19 testing machine to hospital
• Global two-wheeler market to grow to 62.6 million by 2025: Report
Aftermarket
• Uber partners NHA to provide dedicated transport service to COVID-19 healthcare workers
• AutoNation car sales crash, nearly 30% staff furloughed
• Revv to offer over 1,000 free cars for health worker's commuting
Auto Components
• Kongsberg Automotive cuts 7,000 jobs amid virus outbreak
Auto Finance
• Daimler secures $13 billion loan facility
Oil & Lubes
• MRPL ensures smooth fuel supply during COVID-19 spread
• Opec+ debates biggest-ever oil cut as virus destroys demand
• Brent reverses losses to rise above $30/bbl in early European trading
 
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