Thursday, January 20

Automobile

Automobile

India to postpone 2022 car show due to COVID-19 uncertainty – Reuters
Automobile

India to postpone 2022 car show due to COVID-19 uncertainty – Reuters

NEW DELHI, Aug 2 (Reuters) - India's biennial car show scheduled to be held in February has been postponed due to the COVID-19 pandemic and the looming threat of a third wave of infections, the Society of Indian Automobile Manufacturers (SIAM) said on Monday.SIAM, which organises the two-day event, said the risk of spreading infections is extremely high as the show is visited by large crowds and maintaining social distancing would be difficult. It will decide on a new date later this year.The auto industry body may host the show in late 2022 if things improve, sources with direct knowledge of the matter told Reuters, adding that the pandemic has had a financial impact on automakers.The surge in cases of the highly transmissible Delta variant, which battered India in April and May, is rattl...
Indian shares slip from record peaks as metals, IT stocks drag – Reuters
Automobile

Indian shares slip from record peaks as metals, IT stocks drag – Reuters

A man walks out of the Bombay Stock Exchange (BSE) building in Mumbai, India, January 3 2020. REUTERS/Francis Mascarenhas/File PhotoBENGALURU, Sept 1 (Reuters) - Indian shares pulled back from record highs to end lower on Wednesday, dragged by technology and metal stocks as well as subdued automobile sales, with investors booking some profits on valuation concerns.The blue-chip NSE Nifty 50 index (.NSEI) closed down 0.33% at 17,076.25, after scaling an all-time peak of 17,225.75 earlier in the session. The benchmark S&P BSE Sensex (.BSESN) settled down 0.37% at 57,338.21 after rising as high as 57,918.71.The Nifty snapped seven sessions of gains on Wednesday, and both indexes had scaled record highs in the last three days in a market flush with liquidity and solid global cues."Since th...
Indian shares hit record highs on metals rally, dovish Fed prospects – Reuters India
Automobile

Indian shares hit record highs on metals rally, dovish Fed prospects – Reuters India

A broker trades on his computer terminal at a stock brokerage firm in Mumbai, India, January 20, 2016. REUTERS/Shailesh Andrade/FilesBENGALURU, Aug 30 (Reuters) - Indian shares hit record highs on Monday, boosted by automobile and metals' stocks, with sentiment broadly supported by Federal Reserve Chair Jerome Powell's signal that the U.S. central bank would remain patient in winding down its stimulus.The blue-chip NSE Nifty 50 index (.NSEI) climbed 1.03% to 16,877.65 by 0511 GMT and was set for a sixth straight session of gain. The benchmark S&P BSE Sensex (.BSESN) was 0.95% higher at 56,658.79."Sentiment is extremely bullish and there is a possibility of hitting more records highs. There was a little bit of apprehension on the Fed's stance but that is now out of the way. So, we expec...
Indian shares edge higher on metal gains – Reuters
Automobile

Indian shares edge higher on metal gains – Reuters

A man wearing a protective mask walks past the Bombay Stock Exchange (BSE) building in Mumbai, India, March 13, 2020. REUTERS/Francis MascarenhasBENGALURU, Sept 2 (Reuters) - Indian shares opened higher on Thursday, helped by gains in automobile and metal stocks, while broader Asian markets were muted on growing concerns over the Chinese economy.The blue-chip NSE Nifty 50 index (.NSEI) was up 0.14% at 17,099.80 by 0347 GMT and the benchmark S&P BSE Sensex (.BSESN) rose 0.15% to 57,425.28.Mahindra and Mahindra Ltd (MAHM.NS) and JSW Steel Ltd (JSTL.NS) were among the top performers on the Nifty 50, gaining 0.4% and 1.1%, respectively.The Nifty Metal index (.NIFTYMET) climbed 0.78%, rising about 2.8% so far this week after a 2.9% gain last week.Reporting by Rama Venkat in Bengaluru; Editi...
Chinas Geely Automobile first-half profit up 4% – Reuters
Automobile

Chinas Geely Automobile first-half profit up 4% – Reuters

BEIJING, Aug 18 (Reuters) - China's Geely Automobile Holdings Ltd (0175.HK) retained its annual sales target on Wednesday, betting that new vehicle launches will offset the short-term impact of a global chip shortage and a resurgence of the coronavirus pandemic.The company's upbeat forecast and a strong first-half revenue growth helped send shares of the Hangzhou-based car maker up nearly 4%."The recent worsening of chip shortage and the resurgence of COVID-19 cases globally could pose significant threat to our sales performance over the next few months," Geely said."(But) the upcoming launch of more new and competitive vehicle models should enable the Group to perform better in the second half," the company said, maintaining its full-year sales target of 1.53 million vehicles.It said tota...
What is LMDh and why are we so excited about sports car racing in 2023?
Automobile

What is LMDh and why are we so excited about sports car racing in 2023?

Enlarge / This sketch is all we've seen of Porsche's forthcoming LMDh hybrid racer. But now we know that when it starts racing in 2023, it will be run by Team Penske.PorscheIn 2021, there is a real buzz building in the world of sports car racing. After many years of running incompatible technical regulations, the three organizations that are in charge of endurance racing in the US, France, and the rest of the world have managed to find common ground. Soon, a car that's able to compete for the overall win at Le Mans will also be eligible to do the same at Sebring or Daytona, and vice-versa. This convergence was meant to stimulate interest and draw in new entries, and it's doing just that: Acura, Audi, BMW, Ferrari, Glickenhaus, Peugeot, and Toyota have ...
Can Americans pull the plug on petrol-powered cars?
Automobile

Can Americans pull the plug on petrol-powered cars?

The goal, which is non-binding, has the backing of major automakers Ford, General Motors and Chrysler-owner Stellantis. Mr Biden has also restored tailpipe emissions rules from the Obama era, weakened under Donald Trump, which will put pressure on car companies to make greener vehicles.
Politics Updates: A Deeply Divided House Returns
Automobile

Politics Updates: A Deeply Divided House Returns

Daily Political BriefingAug. 23, 2021Updated Aug. 27, 2021, 6:27 a.m. ETAug. 27, 2021, 6:27 a.m. ETDemocratic leaders hope to pass a rule on Monday night for debating the budget measure, the infrastructure bill and an unrelated voting rights bill.Credit...Stefani Reynolds for The New York TimesHouse Democratic leaders worked feverishly on Monday to secure the votes needed to approve their $3.5 trillion budget blueprint this week, facing an internal revolt from moderates who have vowed to block the measure until a $1 trillion bipartisan infrastructure measure is passed.Approval of the budget plan would be a critical step for President Biden’s agenda, paving the way for the Democratic-led Congress to push through an ambitious expansion of the nation’s social safety net this fall over Republi...
Automakers urge greater government investment to meet Biden’s EV sales target
Automobile

Automakers urge greater government investment to meet Biden’s EV sales target

President Joe Biden is expected to set an ambitious new target for half of all new auto sales in the U.S. to be low- or zero-emission by 2030, a plan that has received tentative support from the Big Three automakers pending what they say will require hefty government support. General Motors, Ford and Stellantis (formerly Fiat Chrysler) issued a joint statement Thursday that they had “shared aspiration[s]” to achieve a 40% to 50% share of electric in new vehicle sales by the end of the decade, with the caveat that such a target “can be achieved only with the timely deployment of the full suite of electrification policies committed to by the Administration in the Build Back Better Plan.” Some of the investments they list include consumer incentives, a national EV charging network “of su...