Coronavirus Lockdown News

Maruti Suzuki India Ltd, India's biggest carmaker, said on Thursday there was no immediate need for the government to cut taxes (GST) on cars to boost sales even as it warned of uncertainty in demand after December.

Ford Motor Co has posted a better-than-expected quarterly profit on strong U.S. demand for pickups and SUVs, and forecast a full-year pretax profit instead of a loss, boosting shares in after-hours trading.

Renault's cost-cutting plan is on track and it should have positive cash flow from cars by the end of 2020, the French carmaker said on Friday, as sales recovered from a slump during the first wave of coronavirus lockdowns.

China's auto industry has called for more government support and tie-ups between auto and tech companies on technologies, such as software and semiconductors, to make the country's smart car supply chain more self-sufficient.

Daimler shares surged 4.5% on Friday after the luxury carmaker posted forecast-beating third-quarter results, buoyed by a better-than-expected rebound in sales of luxury cars in September. European car registrations rose slightly in September, the first increase this year, industry data showed on Friday, suggesting a recovery in the auto sector in some European markets where coronavirus infections were lower.

Ford Motor Co on Friday said its China sales rose 25% over July to September from the same period a year earlier to 164,352 vehicles, attributing the increase to product launches and a localisation strategy.

When the coronavirus pandemic forced Italian tyremaker Pirelli to temporarily shut its factories in March, R&D chief Pierangelo Misani needed a rapid rethink.

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