Morning Daily - 2020-06-15

ETAuto Newsletter | Monday, June 15, 2020

Daily Newsletter
Policy | Industry | Passenger Vehicle | Commercial Vehicle | Two Wheelers | Aftermarket | People Movement | Auto Components
ETAuto Originals
• ETAuto Exclusive: Once the darling of venture capitalists, how will automotive startups fare in corona driven economy?
• ETAutoTV: Audi India is embracing the 'Phygital World': Balbir Singh Dhillon
• Opinion: Carmakers heading to new reality in the Covid-era
Top Stories
• Covid-19 Impact: Lumax suspends OK Play Group's roto molded plastic business acquisition
• Tata Motors to discontinue JTP performance cars
• COVID-19 may result in job losses in dealerships worse than last year's auto sector slowdown: FADA
• Royal Enfield to shut down several regional offices in cost-cutting drive: Report
• For once, unions and auto companies share the pain
• Petrol price hiked by 62 paise/litre, diesel by 64 paise; rates up by Rs 4.52 and Rs 4.64 in 8 days
• An auto-industry recovery appears far away. Vehicle-carrier companies are drastically scaling down. ET Prime
• Covid-19: Automakers set aggressive cost cutting targets, reduce capex Business-standard.com
• How supply chain shocks can derail green shoots of recovery Livemint
• Here's what brokerages expect from Tata Motors' Q4FY20 results today Business-standard.com
• Fears for Volvo Expose Sour Turn in Sweden's Ties With China Nytimes.com
• Nissan Email Trail Casts New Light on Takedown of Carlos Ghosn BloombergQuint
• Tesla starts deliveries in Big 3's backyard after years of fighting Electrek
• To Improve Workplace Diversity, Undo Workplace Racism Forbes
• Tesla's US-made Model 3 vehicles now come equipped with wireless charging and USB-C ports TechCrunch
Industry Reports
• Covid-19 impact on economy, corporate revenue and profitability
Policy
• Deadline for scrapping autos, taxis extended by one year
• Vehicle checking in Steel City to ensure compliance of Covid safety norms
• Flatted factory model to boost UP industry
Industry
• Spain plans 3.7 billion euro auto sector aid package
• Public sector banks sanction 2,212 crore loans to MSMEs
• India Inc's foreign borrowings plunge over 68% to $996 million in April
• Scope to finetune stimulus package, says EAC-PM member
• Vigilance bureau to reopen road tax evasion scam
• Govt unlikely to go for privatisation of PSBs this fiscal
• FPIs invest Rs 20,574 crore in June so far
• Germany hopes stimulus measures will drive second-half recovery
• View: COVID-19 and India's trade dependency on China- Should we continue our ties?
• French carmaker PSA seeks alternative to moving Polish workers to Hordain
• TDP leader held for illegal registration and sale of motor vehicles
• Economic plunge in April points to steep climb for world economy
• Promote non-motorised transport to prevent COVID-19 spread on public transport: HUA
• PSBs disburse Rs 14,691-crore loan to MSMEs under emergency credit guarantee scheme
• Madhya Pradesh government to organise job fairs for labourers
Passenger Vehicle
• BMW iX3 production under way, launch likely by end of 2020
• Explosion hits Honda's plant in central Japan, two workers hospitalized
• Volkswagen in Mexico will begin sending workers back to plant on Tuesday
• Honda hackers may have used tools favored by countries
• Volkswagen feud threatens a $38 billion bet
• Citroen to unveil e-C4 electric crossover on June 30
• Volkswagen steps up infrastructure for ID.3, begins sale of chargers
Commercial Vehicle
• NMMT might double bus fare to curb losses
• BEST chargesheets 1,000 absentee drivers and conductors, 700 power wing staffers
• Kerala Hight Court stays earlier order allowing bus operators to collect hiked fare amid lockdown
• In the battle of electric trucks, it is Nikola vs Tesla
• Covid impact: Chandigarh stops long route bus service to Punjab and Haryana
Two Wheelers
• Vespa unveils limited edition 946 Christian Dior scooter
Auto Components
• Steel companies to face demand contraction of more than 20% in FY21
• Novelis refinance costs dent Hindalco Q4 profit
• Slowly but steadily work picks up pace in Adityapur factories
• JSW Steel asks 11,000 employees to work from home
• Severstal says no to Europe as Thyssenkrupp's options narrow
• GVS's Milan IPO fully covered across price range
Auto Finance
• Slow start for India's ambitious plan to resuscitate small businesses
Oil & Lubes
• Oil prices drop as rising U.S. coronavirus cases stoke fears of weak fuel demand
• India to get its maiden gas trading platform, IGX
• View: Oil demand isnt roaring back yet
• Pune petrol pump launches 'Atmanirbhar' campaign to avoid contact between employees, customers
 
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