Auto Industry News

Indian carmaker Tata Motors raised the price of its passenger vehicles on Saturday as input prices continue to increase.

Oil prices rose about 2% in volatile trade but were still heading for a weekly decline as investors worried about a potential recession-driven demand downturn even as global fuel supplies remained tight.

India's fuel consumption in June rose by 17.9% from a year earlier.

Since the start of the war in Ukraine, the United States and its allies have leaned on countries to buy less Russian oil in a bid to punish Moscow for its aggression.

Oil prices settled sharply higher rebounding from steep losses the previous two sessions.

Okinawa Autotech sold 49,196 electric two-wheelers between January 1 and July 9, 3,372 units more than Hero Electric, which was previously the leading electric two-wheeler manufacturer in India.

Tata Motors has hiked the prices of all passenger vehicles by approximately 0.55 per cent from today, depending on the variant.

Union Minister Nitin Gadkari reportedly claimed that petrol won't remain in usage in India within the next 5 years, post which the fossil fuel will be banned in India.