Morning Daily - 2020-06-12

ETAuto Newsletter | Friday, June 12, 2020

Daily Newsletter
Policy | Industry | Passenger Vehicle | Commercial Vehicle | Two Wheelers | Aftermarket | People Movement | Auto Components
Top Stories
• JCB India bites the retrenchment bullet, sacks 400 permanent employees
• Scooter, mobike output nears 70% of pre-lockdown levels
• PV retail sales dip 87% at 30,749 units in May 2020: FADA
• Covid opportunities fuel Motherson Sumis ambitions
• Passenger vehicle sales to plunge by 25% in FY21: CRISIL
• Sundram Fasteners announces pay cut for staff, management HBL
• 1,200 commercial pilot hopefuls have INR1,600 crore invested in training, but face waning job prospects. ET Prime
• Nearly 250 jobs to go at Nissan's UK plant
• More the people ride alone, more the zip for Hero MotoCorp on Dalal Street
• Tata AutoComp ties up with Tellus Power Green to set up EV charging stations
• TVS Srichakra reappoints R Naresh as Managing Director
• Insolvency filing by Minda Corp for its German unit to boost shareholder value
• Interest in low cost, pre-owned cars spike due to fear of using public transport Livemint
• Hero MotoCorp to engineer faster recovery in sales than peers: Analysts Livemint
• The future of Indian trucking and the ex-fauji factor HBL
• Sundram Fasteners reports standalone Q4 net at 46.80 cr HBL
• Last mile mobility solution for a post-pandemic world? HBL
• A surfeit of trucks and a huge deficit of good drivers HBL
• Goldman cuts Tesla and makes GM a buy on better sales outlook Livemint
• Mahindra & Mahindra Q4 preview: Volume decline, lower ASPs to dent earnings Business-standard.com
• After Maruti and Hyundai, Tata Motors offers discounts as car makers get squeezed between slow sales and slower registrations Business Insider
• Bookings for 2020 Triumph Street Triple R unofficially begin at select dealerships Moneycontrol
• Third-Party Hacks Can Now Boost A Tesla Model 3's Performance By 50-To-150 Horsepower Forbes
• Europe's Electric Sales Boost Will Hurt Profits; Long-Term Forecasts Look Unattainable Forbes
• Auto industry recovery from COVID-19 could take years, signaling slow climb back Detroit News
• Rivian hires a rising star at GM as the battle for EV dominance heats up Detroit Free Press
• 4 Ways To Actually Create Diversity And Inclusion In The Workplace Forbes
• 13 Tips For Employers Looking To Hire Fresh Talent Forbes.com
Industry Reports
• Impact of COVID-19 and national lockdown on car sales and consumer buying behaviour
Industry
• Rising forex reserves a morale booster, should be used wisely: Anand Mahindra
• RBI Governor meets MD & CEOs of credit rating agencies
• India growth to revive after containment of COVID-19: Niti Aayog
• China auto sales up 14.5% in May, recovering after pandemic
• Job loss most severe immediate impact of COVID-19: Survey
• International trade set to shrink 27% in second quarter after April 'nosedive', says UNCTAD
• Do not believe Indias 7% GDP growth has been permanently damaged: S&P Global Ratings
• Johnson Matthey halves dividend, to cut 2,500 jobs as virus saps demand
• Nikkei sees biggest daily drop in 6 weeks as yen firms on Fed view
• Rupee slips 23 paise to 75.82 against US dollar in early trade
• Nifty, Sensex edge lower after dour US Fed outlook
• PSBs disburse Rs 12,201 cr loan to MSMEs under emergency credit line scheme
• US economy has hit turning point: White House's Economic Adviser
• Fifty drivers fight for one order: Southeast Asia gig economy slammed by virus
Passenger Vehicle
• VW blames cultural insensitivity for ad criticised as "racist"
• French auto industry recovery in June, July: Minister
• Mahindra announces special offers for frontline workers
• Tesla wins China approval to build Model 3 vehicles with LFP batteries
• BMW launches 2020 X6 coupe SUV in India, priced at Rs 95 lakh
Two Wheelers
• RR Global enters electric vehicle segment
Aftermarket
• Uber India Head Pradeep Parameswaran elevated to APAC Regional GM
• How Uber hailed a deal with Grubhub only to let it slip
• How ride-hailers around the world are coping with the virus pummeling
Auto Components
• US auto suppliers cheer as carmakers relaunch, but long-term worries remain
• Parts maker Visteon expects global auto output to plunge up to 25%
• Mitsubishi Electric to acquire plant from Sharp to boost EV power chip output
Auto Technology
• Mercedes-Benz partners with Setra for sideguard assist systems
Auto Finance
• We can manage liability and repayment, but need to raise money for lending: Shriram Transport Finance
Oil & Lubes
• British Gas owner Centrica plans to cut about 5,000 jobs
• ONGC likely to cut capex by 15% as pandemic delays projects
• LNG recovery in Asia depends on China, India policies
• Global gas demand on course for biggest annual fall on record: IEA
 
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