Morning Daily - 2020-05-21

ETAuto Newsletter | Thursday, May 21, 2020

Daily Newsletter
Policy | Industry | Passenger Vehicle | Commercial Vehicle | Two Wheelers | Aftermarket | People Movement | Auto Components
ETAuto Originals
• ETAuto Orginals: Digitally yours car in the times of Coronavirus
Top Stories
• Coronavirus impact: Ola to lay off 1,400 staff citing 95% revenue decline
• M&M looks to exit JV with Japans Sanyo Special, Mitsui
• Maruti Suzukis production output to remain impacted in first-half of 2020
• Bajaj Auto Q4 profit down 4% at Rs 1,354 crore
• Global EV sales likely to plunge 18% in 2020: BNEF
• Hyundai plans multi-pronged strategy to beat slowdown HT MINT
• People will shun shared mobility after the lockdown: whats shaping sales strategy at Hyundai ET Prime
• Volkswagen pays 9 mn euros to end proceedings against chairman, CEO
• A Bottom-Up Approach To Cheaper, Next-Gen Electric Vehicles Forbes
• JLR rolls out first Range Rover from Solihull production line post resumption
• Stimulus package lacks major near-term support for economy: Report
• Bajaj Auto appoints Abhinav Bindra as additional and independent director
• 2 accused of smuggling ex-Nissan boss out of Japan in a box
• Auto Restart: Dealership Chain Sonic Automotive Expects Sales To Recover By This Summer Forbes
• Lessons of 2008-13 guided coronavirus stimulus: Nirmala Sitharaman
• VW pulls car ad after outcry, apologizes for racist overtone
• Past its peak? Battered oil demand faces threat from electric vehicles
Industry
• View: Out of the Covid-19 disaster comes privatisation, and other reforms
• LG chairman apologises over gas leak, fire
• Ahmedabad, Noida, Chennai among top 10 industrial corridors for MNCs: Report
• Industry needs to reset relations with workers, says FM Nirmala Sitharaman amid COVID-19 crisis
• Debt binge to widen Indias fiscal gap to 13%: HSBC
• Cabinet approves Rs 3 lakh cr emergency credit line for MSME; loans at 9.25% rate
• RBI may need to aggressively cut rates alongside fiscal stimulus: Economists
• USD 575 billion investment opportunity in transport infra in next 5 yrs: Kearney
• US economy won't reclaim all of its lost ground until after 2021: CBO
• Foreign investors pull out $16 billion from India
• Kolkata: Odd-even system, higher fares may power auto return
• Rupee opens 7 paise up at 75.57 against dollar
Passenger Vehicle
• Porsche 911 buyers can track the progress of their vehicle manufacturing
• Renault may close French factories and axe models
• Ford temporarily closed factory after two COVID-19 cases
• France will be 'uncompromising' on maintaining Renault sites: PM
• Hyundai India launches updated Verna sedan, priced from Rs 9.30 lakh
Commercial Vehicle
• APSRTC to run buses from May 21 in Andhra Pradesh
Two Wheelers
• Harley plans to ship fewer models to US dealers
• Royal Enfield recalls 15,200 units of three models in overseas markets to replace a brake part
• Ampere Electric to start Trader Outreach Program
Aftermarket
• Difficulty in starting cars to fewer passengers: Cab drivers face issues as they resume work
• Ola, Uber cab drivers struggle amid low demand, extra operating cost
• Car sanitisation: New business in town
Auto Components
• ICRA revises steel sector outlook to negative as demand likely to fall by record 20% in FY21
• SQM profits plunge again on lower lithium prices, slashes 2020 capex plan
• World's biggest steel producer sees order book fills as China rebounds
Auto Technology
• China's Didi will begin using AI to run virus monitoring in Latin America
 
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