Auto Industry News

The invasion was a factor in consulting firms J.D. Power and LMC Automotive slashing their 2022 global new-car sales outlook by 400,000 vehicles to 85.8 million units. The auto industry had already been dealing with a tight supply of vehicles due to the global semiconductor shortage.

Ford will temporarily halt the production of the F-150 pickup at its Kansas city assembly plants due to a shortage in semiconductors.

Jeep will launch the Meridian, a mid-size, three-row SUV, that will be made in India, and the Grand Cherokee, which it will assemble in the country - a move the company expects will allow it to price its vehicles more competitively.

Ola will need 40Gwh of battery capacity to meet its annual target to produce 10 million electric scooters and the remainder will be for electric cars, which it plans to manufacture in the future, said the person who has knowledge of the plans.

Indian Oil Corp, the country's top refiner, has bought Russian Urals crude for the first time in two years, after spot differentials slumped, according to trade sources and Refinitiv data.

Initial government estimates show that India's fuel demand is likely to grow 5.5% in the next fiscal year beginning April 1, reflecting a pick-up in industrial activity and mobility in Asia's third largest economy.

Russia's biggest carmaker Avtovaz may suspend some assembly lines at its Togliatti plant in central Russia on Monday for a day due to a persistent global shortage of electronic components.

Jeep, which has less than a 1 per centshare of India's car market, said last year it would invest $250 million to launch four SUVs in a country where rivals Hyundai Motor and Kia Motor dominate the segment with more affordable vehicles.