Morning Daily - 2020-06-03

ETAuto Newsletter | Wednesday, June 3, 2020

Daily Newsletter
Policy | Industry | Passenger Vehicle | Commercial Vehicle | Two Wheelers | Aftermarket | People Movement | Auto Components
Top Stories
• Top 10 Passenger Vehicles sold in May 2020
• Honda sues Hero Electric over E-scooter design
• Bajaj Auto, TVS chip away at China's share in African two-wheeler market
• SsangYong Motor sells Seoul service centre to raise funds
• Indian carmakers offer teaser loans as banking sources say RBI softens stance
• The past, present and future: Cultural success when conducting business in Mexico - Audio interview
• A ventilator needs 5,000 parts, 300 assemblies: Maruti, M&M drove in different tracks to find them ET Prime
• Motherson Sumi Q4 profit decline 68% at Rs 136 crore
• Faster recovery in tractor sales to help Mahindra & Mahindra, Escorts Livemint
• MG Motor to increase investment in EVs from 2022 HT MINT
• Hydrogen Truckmaker Nikola Is Ready For Its Nasdaq Debut Forbes
• Honda Motorcycle in caution mode on re-starting operations HBL
• Shriram Transport plans to raise up to Rs 2,000 cr via rights issue HT MINT
• Logistics solutions provider LetsTransport raises Rs 10 crore from Blacksoil HT MINT
• Rate cuts made by RBI should be passed on to customers: RC Bhargava The Indian Express
• Coronavirus Damage To Europe's Conventional Auto Sales Will Benefit Compliance With EU CO2 Rules Forbes
• Forbes Guide To Classic Car Insurance Forbes Advisor
• Canadian auto sales drop 44% in May, an improvement from April BNN
• Pandemic Accelerates Need For Tech Talent With Business Expertise, Collaboration Skills Forbes
• Employee Well-being: The Role Of Front-Line Managers Forbes.com
• Vroom targets nearly $2B valuation in impending IPO TechCrunch
• Bharat Forge signs licence agreement with NASA to make ventilators Moneycontrol
Monthly Sales Report Card
• Bajaj Auto domestic sales slump 83% at 40,074 units in May 2020
• Honda Motorcycle and Scooter India posts wholesales of 54,820 units for May
Policy
• Auto, taxi drivers associations welcome Delhi govt's move to lift cap on number of passengers
• No badge needed for tourists driving rented cab, bike
Industry
• GST Council may provide relief to trade on issue of late fee
• Moody's downgrades ratings for NHAI, GAIL
• Maharashtra: Notification on MSME criterion leads to confusion
• Indian economy to contract 10% this fiscal: Former finance secretary
• Post-Brexit trade talks resume but little sign of breakthrough
• India made a big mistake in not joining the RCEP
• Pune Municipal Corporation to redraw sealed clusters, fresh order expected on Tuesday
• Tata Motors resumes operations across all manufacturing plants
• Extension of concession period for toll road operators unlikely to provide adequate relief: ICRA
• US manufacturing activity crawls off 11-year low
• Strengthening economy among the highest priorities of govt: PM Modi
• China auto sales growth seen for second straight month, boosting recovery hopes
• Rupee slips 6 paise to 75.60 against US dollar in early trade
• Sensex surges over 300 points; Nifty tops 9,900
Passenger Vehicle
• France approves 5 billion euro emergency loan for Renault
• Toyota GR Yaris line-up revealed, to go on sale in September
• Car rental fleet collapse drags down US vehicle sales
• GM should emerge from pandemic with permanently lower costs: Mary Barra
• US auto sales in May encourage Detroit plan to rebuild inventories
• Volkswagen to install Porsche's CEO as VW brand chief
• Volkswagen closes $2.6 billion investment in self-driving startup Argo AI
• Nissan India launches updated Datsun redi-GO, priced from Rs 2.83 lakh
• Italy new car sales fall 50% YoY in May
• Mercedes-Benz India launches GLE LWB SUV variants, price starting at Rs 88.8 lakh
• Geely's Polestar plans China showroom expansion to compete with Tesla
Commercial Vehicle
• Exports to Bangladesh yet to resume as truckers fear strict quarantine after return
Two Wheelers
• Suzuki Motorcycle India launches online sales and service platform
Aftermarket
• Autos, taxis go back to pre-Covid 3+1 formula as buses struggle to tackle rush
• China's Didi hires van drivers for logistics services
• Jeff Bezos invests in UK logistics startup Beacon
• Odisha: Motor vehicle drivers demand insurance cover, lockdown compensation
Auto Components
• Steel players' operating profit to decline 20-30% in FY21: India Ratings
Tyres
• Yokohama India resumes production at Bahadurgarh Plant
Auto Finance
• BMW offers financial plan to boost demand
Oil & Lubes
• Oil prices inch up ahead of OPEC+ meeting on extended output cuts
 
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