Morning Daily - 2020-04-24

ETAuto Newsletter | Friday, April 24, 2020

Daily Newsletter
Policy | Industry | Passenger Vehicle | Commercial Vehicle | Two Wheelers | Aftermarket | People Movement | Auto Components
ETAuto Originals
• Scrappage Policy - A panache for Indian auto industry
• Five auto component manufacturers resume production
• How auto industry resuming operations amid Covid-19 crisis
Top Stories
• Global aftermarket and OEM data: How regions are dealing with it - Audio interview
• Refiners stare at Rs 25,000 crore inventory loss: Crisil Ratings
• Saving Jobs: Government looks to ease companies' financial burden
• Coronavirus will change how we create cars, say top designers Livemint
• Indias crude oil production falls 6% in FY20
• Covid-19: Uber to provide grants worth Rs 20 cr by end of week to Indian driver-partners
• The best lesson from Covid-19 is to be humble HBL
• Severe supply shortages may hit India as truck drivers flee. It can be a long-term problem. ET Prime
• Car brand-logos now adorn face masks and ventilators HBL
• BharatBenz and the drive towards zero BS-IV stock HBL
• EV market looks to rev up with high-speed scooters HBL
• About 1,500 companies in Pune division resume operations HBL
• ArcelorMittal Nippon Steel reports record output of 7.23 mt in FY20 The Economic Times
• Supply chain disruptions to slow automobile production: Crisil Livemint
• Covid-19 impact: Electric vehicle plans may take backseat in FY21 Livemint
• Cleaner mobility is the way to go for sustainable development @businessline
• Tornado-Damaged Parts Plant May Not Disrupt Auto Production Nytimes.com
• Stimulus Checks May Give Auto Sales A Delayed Boost Forbes
• In Shadow Of Pandemic, Tesla Posts Record Sales In China As Global Car Sales Plummet Forbes.com
• 4 Ways To Onboard New Hires Quickly Without Harming The Employee Experience Forbes
• Toyota to resume all North America production on May 4 Nikkei Asian Review
• Renault and Hyundai warn of coronavirus hit after profits fall Nikkei Asian Review
Policy
• China to cut new energy vehicle subsidies by 10% this year
Industry
• 20 days more for reserving company name for incorporation: Ministry of Corporate Affairs
• Early May restart of U.S. auto plants too risky: UAW
• Rs 15k cr on tap, but it may not help NBFCs, MSMEs
• MSME body moves Supreme Court against full wages
• Centre working on scheme to reimburse pending dues to MSMEs with interest: Gadkari
• No country should have any concern over India's new FDI policy: Govt sources
• Chinese investors flummoxed by India's new foreign investment rules
• Japanese governor pledges support for Toyota suppliers as production dips
• RBI announces special OMO of simultaneous purchase and sale of government securities
• Price hike fear as collection of toll restarts
• NBFCS, MFIs and banks to get SIDBI funds for lending to small biz
Passenger Vehicle
• Tesla raises China-made Model 3 prices after EV subsidies cut
• Honda extends North America auto production halt through May 8
• Hyundai Motor Q1 net drops 42 percent because of virus outbreak
• Volkswagen making masks in China for its staff at European plants
• Renault seeks state-backed loan as coronavirus crisis drags on
• JLR plans to gradually resume production from May 18
• Detroit automakers, UAW to continue talks over reopening U.S. plants
• Hyundai sees limited China recovery and dismal virus-hit sales elsewhere this year
• Nissan and its partners to draft deeper alliance in May 2020
• Ford Performance introduces Mustang Cobra Jet 1400, first electric drag racer
• Nissan to resume production at Spanish plant, pilot safety steps in UK
• Daimler earnings plunge as coronavirus hammers vehicle sales, production
Commercial Vehicle
• BYD, Toyota's Hino to co-develop electric commercial vehicles
• Sweden's Volvo hit by cancelled orders as pandemic creates "new normal"
• Karnataka's 4 road transport wings suffer Rs 816 crore corona loss
• Truckers shortage could hit essentials in Mumbai
Aftermarket
• China's Didi Chuxing looks short on engine power
• Uber's next pick-up, about $4 billion
Auto Components
• Sodium-ion battery maker Faradion mulling over manufacturing in India
• Glencore's Congo unit Katanga Mining to go private, warns of possible COVID-19 impact
• Copper miner Antofagasta cuts 2020 capex and tempers output plans
• Global steel output falls 6% in March as crisis shuts furnaces
Tyres
• Bridgestone India donates 10,000 PPE kits in Pune, Indore and Dhar
Auto Finance
• U.S. consumer groups say some auto insurer lockdown rebates are too small
Oil & Lubes
• World Bank slashes outlook for oil, metals as coronavirus crushes demand
• Meghalaya govt increases taxes on petrol, diesel
 
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