Auto Industry News

Oil plunged around 12% on Friday along with other markets on fears the heavily mutated Omicron would spark fresh lockdowns and dent global growth.

The court found that Mazda made 49 separate false or misleading representations to nine consumers, who sought refund or replacement after facing serious and recurring faults with their vehicles within a year or two of purchase.

The sale of SPR oil, which is mainly blended sour crude, is expected to depress the value of U.S. sour crude Mars and benefit buyers in Asia which processes mainly high-sulphur oil.

OPEC and allies known as OPEC+ have move their joint technical committee to Wednesday from Monday, according to the documents. OPEC would hold a meeting the same day.

In a statement, the transport ministry said ride-hailing companies should improve income distribution mechanisms and provide social insurance for drivers.

Oil prices plunged more than 10% on Friday - their largest daily drop since April 2020 - but recovered some of those losses on Monday, standing up nearly 5% on the day.

Samsung Electronics on Tuesday revealed new auto chips targeting demand for advanced chips in cars, including one mounted in Volkswagen's infotainment system developed by LG Electronics.

While the Hyundai Venue was the best selling SUV at 10,554 units, the Nexon and Punch collectively accounted for 18,549 units, which gives Tata Motors a dominating 25 per cent share among the five brands in the Top 10 best-selling SUVs list.