Morning Daily - 2020-04-16

ETAuto Newsletter | Thursday, April 16, 2020

Daily Newsletter
Policy | Industry | Passenger Vehicle | Commercial Vehicle | Two Wheelers | Aftermarket | People Movement | Auto Components
Top Stories
• 8-10% auto dealers face closure
• Lockdown 2.0: ACMA repeats plea for urgent financial aid
• Auto industry awaits local guidelines to resume work
• Hero to give full payments to suppliers to ease liquidity woes amid lockdown extension
• Going by China's example, lower end of the market to revive faster: RC Bhargava
• Bajaj Auto slashes salaries till May 3 to lower fixed costs Cnbctv18.com
• Asset-light with high margins: what makes TCI Express one of the most profitable logistics players ET Prime
• Government to soon clear Rs 10,000 crore 'Fund of Funds' for MSMEs with high credit rating: Nitin Gadkari
• Pressure to restart auto industry grows, but it faces major hurdles Detroit News
• SAIC Motor reports annual net profit decline - Chinadaily.com.cn Global.chinadaily.com.cn
• Electric vehicle sales are down, but the long-term trend is still positive Micky.com.au
• Smart Cars from Ford and Volkswagen are Exposed to Attacks CISO MAG | Cyber Security Magazine
• How Did Car Insurance Companies Decide On Their Refund Amounts? Forbes
• Auto-rickshaw drivers struggling to meet ends The Hindu
• IndianOil ensuring smooth supply of petro products, LPG HBL
• Council Post: 15 Motivating Tips For Job Hunters Facing Constant Rejection Forbes
• Goldman Sachs Predicts 37 Million Jobs Lost By The End Of May Forbes
Industry
• NHAI likely to compensate toll operators for losses due to suspension of toll charges
• India to receive normal monsoon this season, says IMD; May bring some respite to coronavirus-hit economy
• Automobile engineer designs intubation box to help doctors in Puducherry
• Construction contracts plunge 43 percent in FY20: Report
• 34,000 applications received from para-transit drivers for one-time relief scheme: Delhi govt
• Urgent need for policy action by India, stimulus package a step in right direction: IMF on COVID-19
• Wholesale price inflation cools to 1 per cent in March
• Rupee drops 21 paise to 3-week low on fading US-China deal optimism
• Mahindra plant in Michigan creates new 'Arsenal of Health' to combat COVID-19
• Industry slowdown nears WW-II demobilization levels in US
• U.S. business inventories fall in February
• Hungary's auto industry plans gradual restart of production
• COVID-19 lockdown: Limited economic activities to resume after April 20
Passenger Vehicle
• Suzuki Motor Gujarat suspends production till further notice
• Covid-19: BMW Group India pledges Rs 3 cr
• VW to resume production in Germany starting April 20
• Honda deploys its minivans to transport virus patients
• Mercedes-Benz January-March sales down 38.58% to 2,386 units
• Tesla's China car registrations surge in March as Shanghai factory back up
• FCA's big dividend ambitions bruised by pandemic
• Hyundai to provide COVID 19 tests, "drive through" testing support in U.S.
• Tesla shares extend rally after China registration surge and nod from Goldman
• Audi Hungary plant begins tooling up after three-week production halt
• Fiat Chrysler bolsters cash with $3.8 billion syndicated credit
Commercial Vehicle
• Centres nod to ply a relief for truckers stuck for days
• Bosses at commercial vehicle group CNH take pay cuts in show of solidarity
Two Wheelers
• TVS arm deploys 1,000 corona warriors to transport essentials
Aftermarket
• Car hire group Europcar gets Spanish financing, still working on French aid package
Auto Components
• Auto supplier Magna preparing for N. America return to work May 4
• Auto parts maker Marelli, unions agree measures to enable return to work
• China's Tianqi Lithium faces further loss, eyes stake sales
• Talbros Automotive Components extends closure of plants amid lockdown
• Lockdown: Steel players start re-working on business plans
• Copper falls on recession fears despite China rate cuts
Auto Technology
• TomTom sees negative free cash flow as virus hits first-quarter sales
Auto Finance
• How to seek car payment relief during the pandemic
Automotive
• Escorts extends plant shutdown for two weeks amid virus outbreak
• Italy's CNH Industrial, unions near safety deal to allow production restart
Oil & Lubes
• India to fill strategic oil reserves by early May
• World oil demand forecast to suffer biggest drop ever
• GP Global acquires Nigeria's Grand Petroleum's lubricant assets
• Crude oil prices fall 5% to $28 on oversupply concerns
 
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