Morning Daily - 2020-05-07

ETAuto Newsletter | Thursday, May 7, 2020

Daily Newsletter
Policy | Industry | Passenger Vehicle | Commercial Vehicle | Two Wheelers | Aftermarket | People Movement | Auto Components
Top Stories
• At 69%, India's taxes on petrol, diesel highest in world
• Maruti to resume production at Manesar plant on May 12, reopens 600 dealerships
• Automakers resume operations on May 6
• Around 250 dealerships resume operations across country: Hyundai
• Will the Korean government bailout cash strapped Ssangyong?
• Auto companies may roll out incentives to draw customers
• Volkswagen Passenger Cars India appoints Abbey Thomas as Head of Marketing
• Uber to cut 3,700 jobs, CEO Khosrowshahi to waive base salary
• Automakers are preparing a lockdown exit plan. Three hurdles they need to factor in. ET Prime
• Tata Motors gets nod from board constituted committee to raise Rs 1,000 crore via NCDs
• Eicher Motors appoints Kaleeswaran Arunachalam as Chief Financial Officer
• Get India fully back to business, says India Inc
• Toll collections to see 13% drop due to 57-day coronavirus lockdown: CRISIL Research
• Bajaj Auto irked by Maharashtra response in lifting lockdown HBL
• Many US firms with operations in China looking to India post-Covid-19, says Minister of State for Home Affairs HBL
• COVID-19 Cost Car Dealers $2.6 Billion In Profits But Worst Is Over Forbes
• Western Europe's Car Sales Dive 80% In April, While Negative Forecasts For 2020 Race Past 25% Forbes.com
• State lawmakers mobilize push to help revive car industry Bloomberg.com
• Hertz and Avis cancel orders in setback for ailing carmakers AUTOFINANCENEWS.NET
• Production resumes at tornado-damaged auto parts plant Washington Post
• An Auto Plant Shutdown, With a Loophole for Corvette Workers Nytimes.com
• Autotech Ventures raises more than $150 million with an eye on ground transportation startups TechCrunch
• Why Waiting To Start Job Hunting Will Prove To Be The Wrong Strategy Forbes
Policy
• RBI may tweak policy to push banks to lend more, park less funds
Industry
• Covid blow results in steep fall in April services activity
• Madhya Pradesh gives industry flexibility to hire & fire employees
• As U.S. auto supply chain revs up, worker safety fears linger in Mexico
• Lockdown Toll: 600 road crashes in first 40 days, 30% victims migrants returning home
• SMEs struggle to take off as lack of liquidity, labour, and demand pinch operations
• Coronavirus hits GM first-quarter profit hard
• Rupee settles 9 paise lower at 75.72 against US dollar
• Traffic on national highways goes up to 35% of pre-lockdown days on Monday
• South Africa's auto industry ambitions threatened by coronavirus
• Sensex, Nifty rebound as banks gain; all eyes on stimulus measures
• Expecting financial package for MSMEs soon: Gadkari
• FICCI urges state govt to emulate Haryana MSME revival model
• Corporate borrowings hit amid lockdown
Passenger Vehicle
• Tesla hits target to qualify CEO Elon Musk for big payday
• Isuzu Motors India gets local authorities' nod to resume production at Andhra Pradesh plant
• China's Geely reports 2% rise in April sales as market rebounds
• Outbreak will slow auto industry 'for quite some time': BMW
• Lack of manpower hampering plans to restart plants: Honda
• Hyundai announces EMI assurance plan to boost demand
• Judge questions Volkswagen's defence in landmark case over diesel damages
• Volkswagen sees multi-speed coronavirus rebound led by China
• BMW lowers margin outlook for autos division citing coronavirus woes
• BYD aims expansion in Europe, to introduce Tang electric SUV with 520 km range
• JLR deploys over 362 cars globally for emergency service workers
• Honda delivers 10 Odyssey minivans in Detroit for healthcare workers
Commercial Vehicle
• Efforts to restart public buses, airlines will be made soon: Nitin Gadkari
• Investments on hold; important to tide over turmoil of coronavirus pandemic: Lohia Auto
• Trucks inch towards electric vehicle critical mass
Aftermarket
• Allstate will likely grant another auto insurance rebate as pandemic cuts driving
• Car rental firm Hertz gets more time from lenders to avoid bankruptcy
• California sues Uber, Lyft over misclassifying drivers as contractors
Auto Components
• Auto parts maker BorgWarner on track to close Delphi buyout this year
• ZF aftermarket expands its range of electronically controlled dampers
Auto Technology
• Volvo Cars to integrate Luminar lidar in next generation car platform
• Aptiv warns of Q2 loss as pandemic hits vehicle production
Oil & Lubes
• UP hikes petrol price by Rs 2/L, diesel by Rs 1/L
• Petrol pumps in Pune can serve all vehicles now
 
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