Auto Industry, Energy, Transportation: Factors To Watch on July 2 image

Here are news stories, press reports and events to watch which may affect the auto industry, transportation and energy markets on Monday.

Brent crude dropped towards $96 a barrel on Monday as weak factory data from top energy consumer China spurred caution, after oil prices posted their fourth biggest daily gain on record in the prior session.

The U.S. Senate on Friday confirmed geologist Allison Macfarlane, an expert on how to store radioactive waste from power plants, to head the Nuclear Regulatory Commission.

Czech Republic:
NUCLEAR DEAL: As several European countries retreat from nuclear power, the Czech Republic is taking a big step forward in a tender to build new reactors which some in the industry see as a pivotal test of the technology’s future on the continent.

BMW plans to hire thousands of permanent staff after cutting the number of its temporary workers by half, a German magazine reported on Saturday.

Fiat Industrial’s truck unit Iveco will close five truck plants in three European countries by the end of 2012 to adapt its manufacturing footprint to Europe’s plummeting truck sales, Iveco CEO Alfredo Altavilla said on Sunday.

*Italian car sales posted a double-digit fall in June, Fiat Chief Executive Sergio Marchionne said on Sunday. June car sales data are due later on Monday.

French Industry Minister Arnaud Montebourg called on the management of the struggling car maker to divulge its intentions for the future of several of its plants quickly, as fears mount over future job cuts.
The car maker and its German peer BMW have ended their joint venture to make hybrid electrical car components, French website reports.

Danish wind turbine manufacturer Vestas late on Sunday dismissed as “speculation” a report in the Sunday Times that said the company was considering putting itself up for sale and had entered debt restructuring talks with its lenders.

The automakers general manager Haydar Yenigun said he expects automotive sales this year to amount to 800,000-850,000 units, with his company aiming to remain market leader for the 11th consecutive year.

* Reliance Infrastructure Ltd., one of the largest road developers in the country, has commenced the operation of its sixth road project worth 8 billion rupees entailing four laning of Gurgaon – Faridabad and two laning of Ballabhgarh – Sohna road. (Economic Times)
* Mahindra & Mahindra’s June vehicle sales rise to 16 percent to 41,322 vehicles from 35,584 vehicles a year ago.
* Tata Motors reported sales for June, down 3 percent to 64,341 vehicles from 66,358 vehicles a year earlier.
* TVS Motors June sales down 7.5% to 168,693 vehicles from 182,456 vehicles a year earlier.