The coronavirus crisis has forced carmakers to speed up layoffs that must be matched with hefty payouts and deft negotiation to retain the support of powerful trade unions vital if Europe's auto industry is to manage a shift to low-emission vehicles.
Tata Motors today reported a consolidated loss of Rs. 9,863.75 crore in the fourth quarter of the Financial Year 2019-20, which ended on March 31, 2020. In comparison, the company reported a net profit of Rs. 1,108.66 crore for the same period in FY2019.
Spain plans a 3.7 billion euro aid package for its automobile sector, hit hard by the coronavirus pandemic, to promote investment and the purchase of vehicles, specially electric models, Prime Minister Pedro Sanchez said on Sunday.
A clear trend indicates the Auto companies' stocks are now faring better at the markets after hitting record lows during the initial phase of the Coronavirus lockdown.
The new generation Lexus IS sedan was previously scheduled to make its world premiere on June 9, 2020, which was postponed to a later date due to the coronavirus outbreak. After delaying the global premiere, the carmaker has announced a new date for the unveiling of the fourth-generation Lexus IS sedan. The company will be revealing the highly-awaited IS sedan on June 15, 2020, through a digital event which will be streamed online on Facebook. The event is scheduled to take place at 7 pm EDT, which is 4.30 am IST.
