Morning Daily - 2020-04-23

ETAuto Newsletter | Thursday, April 23, 2020

Daily Newsletter
Policy | Industry | Passenger Vehicle | Commercial Vehicle | Two Wheelers | Aftermarket | People Movement | Auto Components
ETAuto Originals
• Silver lining for used car business amidst the coronavirus pandemic
• Opinion: Our Commitment to Earth Systems - Cleaner Mobility
• A study on impact of Coronavirus on fleet and trucking business
Top Stories
• Maruti Suzuki's Manesar plant to resume operations in single shift
• Coronavirus: Captains sing different tunes for auto sector revival
• JLR to put about 20k employees in UK on furlough
• Auto companies in no hurry to restart operations as road slowly opens up
• Fearing revenue loss, Assam ups petrol, diesel prices
• Bajaj Auto to resume production at Aurangabad plant for export
• Severe supply shortages may hit India as truck drivers flee. It can be a long-term problem. ET Prime
• Ashok Leyland to resume operations at three plants
• Minimum wages, truckers' safety essential for smooth supply chain in lockdown: Vipin Sondhi
• Apollo Tyres partially resumes operation at Kerala Plant
• IMMA appoints Rakesh Sharma as President
• Govt must cut taxes to put auto industry back on track HT MINT
• Stimulus in spotlight as finance commission meet starts today Livemint
• As Michigan auto dealers start selling online, April shows an uptick Detroit News
• While used cars pile up in lots, the classics are busy changing hands Detroit News
• Auto theft is up while Americans are locked down in NYC and L.A. Nydailynews.com
• Daimler Earnings Plunge as Coronavirus Hammers Vehicle Sales, Production Nytimes.com
• Happy Earth Day: Here's Why You Should Still Consider An Electric Car When Gas Is Cheap Forbes
• Auto Sales Start To Bounce Back, From Very Low Lows Forbes
• Council Post: High Employee Turnover? 14 Ways To Reverse The Trend Forbes
• Toyota to halve Japan production, putting jobs at risk Nikkei Asian Review
• EV startup Byton furloughs half of its 450-person staff in the US TechCrunch
• Patent Filing Reveals The Next Porsche Plug-In Hybrid Hypercar CleanTechnica
• Suppliers balance restart pressure with state stay-at-home orders Automotive News
Industry
• Around 70% highway projects resume after partial lifting of lockdown
• SEBI, RBI examining possible relaxation for rating cos
• Dont rush to open factories, FISME cautions MSMEs
• MHA says clause precautionary, but industry not quite convinced
• Govt's Rs 10,000-cr scheme to promote electric vehicles fails to take off in its first year
• Rupee recovers from all-time low to settle at 76.68 against US dollar
• Migrant worker remittances to fall 20% amid virus: World Bank
• Double moratorium period to 6 months, provide credit guarantee for MSME loans: IBA to RBI
• Road projects likely to get extension for lockdown period: ICRA
• Movement of vehicles on national highways up by 60-100%
• MSME business under stress even before Covid-19 outbreak: TU CIBIL
• Banks to achieve priority sector lending target via RBI's liquidity dose
Passenger Vehicle
• US auto sales show signs of life after gloomy coronavirus March
• GM folds Maven car-sharing unit, citing coronavirus
• Carmaker SEAT to test all employees for virus before restarting
• Toyota's South African unit sees 15-20% hit to production due to virus
• COVID-19 fight: MG Motor India to provide 100 units of Hector SUV to government, health workers
• EU climate chief sees green strings for car scrappage schemes
• Slow restart for car factory in French virus lockdown
• Hyundai cars sit in U.S. ports as virus keeps buyers away
• Jaguar Land Rover introduces plug-in hybrid technology to Range Rover Evoque, Discovery Sport
Two Wheelers
• Triumph Motorcycles launches 2020 Street Triple RS, priced at Rs 11.13 lakh
• Ducati India defers price hike on extended warranty till May-end
Aftermarket
• Inland logistics players' volume may fall 10-15% in current financial year: India Ratings
Auto Components
• Tata Steel raises Rs 510 cr via NCDs
• India probes alleged dumping of flat rolled copper products from China, 5 other Asian countries
• Japanese steelmakers face more production curbs over virus crisis
• Tata Steel India production up 6% in Q4 at 4.74 million tonnes
• STMicroelectronics sees Q2 revenue drop due to automotive slowdown and coronavirus
• How global pandemic jeopardises China's metals supply chain
• Krishna Maruti donates 1 million masks to Haryana Government
• Australia's Orocobre says coronavirus outbreak to hit lithium demand into 2021
Tyres
• Tyre industry pushes back against evidence of plastic pollution
Auto Finance
• Car insurers should repay premiums, British lawmakers say
Oil & Lubes
• Whether Opec+ formally agrees, deeper oil cuts now look inevitable
• Oil prices tumble on demand collapse, Brent at 1999 lows
 
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