Morning Daily - 2020-05-12

ETAuto Newsletter | Tuesday, May 12, 2020

Daily Newsletter
Policy | Industry | Passenger Vehicle | Commercial Vehicle | Two Wheelers | Aftermarket | People Movement | Auto Components
Top Stories
• Almost 57% Indian consumers willing to purchase cars in 2020: Survey
• Auto dealers planning to launch own online sales platform
• India's automakers warn of up to 45% sales drop as economy slumps amid pandemic
• India will be risking economic hara-kiri, if lockdown extended for much longer: Anand Mahindra
• Expect financial package for industries in 2-3 days: Nitin Gadkari
• Sandhar Technologies CFO Arvind Joshi quits
• Maruti Suzuki delivers 1,600 cars, Hyundai retails 608 in past week
• Last-mile trucking startups can emerge as the lifeline for Indian cities. Its a tough business. ET Prime
• Online sales could be the last nail in the coffin for auto dealerships HT MINT
• DICV appoints two executives in the top management team
• Tesla CEO Elon Musk says he has restarted California factory
• Covid-19: Two-wheeler sales hit top gear, but companies tread with caution Business-standard.com
• Jaguar Land Rover Owner's India Business Has No Value, CLSA says Bloomberg.com
• Detroit's automakers have enough cash to last the year without a bailout after learning the 'hard way' in the Great Recession CNBC
• Elon Musk just put a new person in charge of production at Tesla's Fremont factory TechCrunch
• IndianOil raises refinery operations to 60 per cent of design capacity HBL
• Govt likely to clarify on Chinese FDI norms HT MINT
• Pickups, Profits Are Job One As U.S. Auto Plants May Restart Next Week Forbes
• More People Turning to Cars Because of Fears of Coronavirus Infection on Public Transit Weather.com
• 16 Creative Ways To Diversify Your Revenue Streams During Tough Times Forbes
• Bridgestone replaces chief operating officer after just year and a half Nikkei Asian Review
• GM firm on EVs despite financial squeeze Automotive News Canada
Policy
• Experts back bold labour law reforms
Industry
• US auto industry workers return to jobs amid concerns of second virus wave
• Coronavirus relief: Automobile industry to raise $100 billion from banks
• FICCI writes letter to Finance Minister Nirmala Sitharaman seeking fiscal support for the MSME sector
• FASTag technology ensuring safety during COVID-19 times: NHAI
• The process to start economic activities will gather further steam in the coming days: PM Modi
• CEOs must invest in automation but with empathy in COVID-19 times
• Michigan due to reopen manufacturing from coronavirus lockdown
• FICCI warns of massive job losses, calls for 4-5% of GDP in stimulus package
• China auto sales mark first gain in almost 2 years as virus curbs ease
• Rupee opens 3 paise down at 75.58 against dollar
• Why Indian economy needs swift and robust labour reforms
• Sensex jumps 500 points, trades over 32,000-mark
• Centre's financial stimulus not sufficient; fiscal deficit may jump to 14%: Former RBI Governor Subbarao
• View: Many things about jobs could change in the post-lockdown era
• Great onus on Indian manufacturers to keep corona-positive cases at bay
Passenger Vehicle
• Renault reopens select dealerships, service centres across country
• Audi India introduces online sales and service
• Volkswagen steps up efforts to lure German buyers back to showrooms
• EU regulators to decide on $50 bln Fiat Chrysler, Peugeot deal by June 17
• Volkswagen launches BS-VI Polo and Vento TSI edition
• French Finance Minister to hold new meetings with auto executives this week
• Not quite a car, not quite a motorcycle: Solo car built for one
• Tesla Model 3 sells 3,635 units in China in April
• Fiat Chrysler and AV startup Voyage partner on self-driving minivans TechCrunch
Commercial Vehicle
• Piaggio restarts production at Baramati facility
Two Wheelers
• Okinawa resumes operations with 25% workforce
Aftermarket
• M&M commences retails operations; opens 300 customer touchpoints across India
• Bajaj Auto dealerships, service centres reopen in several parts of India
• Proposed sale in Snowman Logistics to Adani Group firm called off
• Dial-an-Auto operators not to increase vehicles
Auto Components
• Tata Steel may demerge UK, Dutch Units
• China stainless steel hits nine-month high as domestic demand recovers
• Manikaran Power Limited and Neo Metals commence joint feasibility study for lithium refinery
• Greaves Cotton resumes operations in Bangalore
Auto Technology
• Altair acquires WRAP Software to manage wireless propagation and network planning
Oil & Lubes
• Fitch Ratings says higher risks to Indian oil marketing firms' standalone profiles
• Oil prices climb as Saudi Arabia pledges further production cut
 
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