COVID-19

  • COVID-19 Webinar Scheduled With HDMA

    Power Systems Research will work with the Heavy Duty Manufacturers Association (HDMA.org) to present a one-hour webinar examining the impact of COVID-19 on the industrial segments of Agricultural and Construction in North America.

    The webinar will be presented Wednesday, June 17. Watch hdma.org and powersys.com for details. PSR

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  • South Korea: Hyundai and Kia Expand EV Models

    According to the Hyundai Motor Group, both Hyundai and Kia plan to offer 44 eco-car models by 2025, more than half of which will be dedicated to EVs (23 models).

    Akihiro Komuro
    Akihito Komuro

    Hyundai revealed in its 2025 strategy announced at the end of last year that it would increase EV and FCV sales to 560,000 and 110,000 units respectively. Kia has set a goal of selling 500,000 EVs and 1 million eco-cars by 2026, with 11 EV models available across all vehicle classes by 2025.

    Source:           …

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  • Russia Automakers To Receive Special Credits

    Twelve automakers in Russia are counting on privileged credits for working capital support of backbone enterprises during the COVID struggle.

    Maxim Sakov
    Maxim Sakov

    Under the program, a company must have revenue of  US$300 million (20 billion rubles) and employ more than 1000 people. A special bank product has been designed for such companies. The bank interest on this credit will be subsidized within the base interest rate of Russian Central Bank, and half of the credit will be warranted by the Ministry of Finances.    Read The Article

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  • Russia New Car Sales Drop 70% in April

    New car sales plummeted by 102,000 vehicles in April, the largest monthly car sales decline in history in Russian, according to the Association of European Business.

    Maxim Sakov
    Maxim Sakov

    During April, Russia introduced strict quarantine measures because of the coronavirus, causing car sales to fall by 102,089 units, or 72.4%.

    After strong sales in March, dealers have had to suspend or restrict their activity.

    “Black April” has dealt a strong blow to dealer cash liquidity, and seriously affected stability during middle-term period. The dealers are preparing to restart their business in May; however, they don’t expect significant sales growth.

    AutoVAZ , the largest Russian car manufacturer, reported sales declined by three times in April over March.

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  • COVID-19 and Lockdown Have Major Impact on Engine-Driven Applications

    Even before the COVID-19 crisis, the Indian automotive sector was facing a severe downturn, but the problems were amplified by the Covid-19 pandemic and the lockdowns across India and the rest of the world. The situation was compounded because India was transitioning from BS-IV to the BS-VI era.

    Aditya Kondejkar

    These are challenging times for the Indian automotive sector because of slow economic growth, negative consumer sentiment, axle load norms, a liquidity crunch, low capacity utilization and potential bankruptcies. The current lockdown has  severely affected the entire ecosystem of engine driven applications in India.

    For the first time, automobile OEMs reported zero domestic sales and very limited exports in April.  According to the Society of Indian Automobile Manufacturers (SIAM), the industry is losing more than $300 million per day.

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  • COVID-19 Update: ARGO Tractors Resumes Manufacturing

    Production has resumed in ARGO Tractors plants after being shut down for almost two months.  Different measures were put in place in order to comply with government health regulations.  In April ARGO started to sanitize the factories and prepare to resume operations.  Protection equipment is distributed to workers who must keep social distancing and whose temperature is registered at the entrance of the factories. 

    Source: Argo Tractors      Read The A…

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  • PSR’s Coronavirus Special Report

    Power Systems Research has created a Coronavirus Special Report detailing the impact of COVID-19 on the global production of Off-Highway and Medium/Heavy Truck Engine and Equipment in 2020.

    PSR – Coronavirus Special ReportDownload

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  • Brazilian Production and Sales of Commercial Vehicles Won’t Recover Until 2021

    Power Systems Research analyzes markets of trucks, buses, agricultural and construction machines

    Brazil deaths caused by coronavirus increased sharply in April and May 2020.

    Slump Caused by COVID-19 Will Last into 2021

    The overall slump in production and sales of heavy commercial vehicles (trucks and buses) as well as for agricultural and construction machines should last throughout this year; these segments won’t recover until 2021.  PSR

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  • SOUTHEAST ASIA REPORT: Spread of COVID-19 Shuts Down Automobile Plants

    Due to the spread of COVID-19, Japanese automobile OEMs have stopped production in Indonesia. Isuzu stopped operating its plants April 1, and Honda and Suzuki stopped April 13.

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  • SOUTH KOREA REPORT: Doosan Infracore Hikes Sales Promotion with SNS in China

    Doosan Infracore announced on March 24 that “the share of product marketing and customer support using live content broadcasting on SNS is growing in China.” The company has conducted more than 20 live machine maintenance training sessions through SNS, and the total number of users has reached about 7,300, with 140,000 followers on WeChat.

    More than 1,200 machines were sold through such online marketing, and the sales of parts sold on WeChat reached 10 billion won.

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