Daimler CEO says carmakers could face chip shortage into 2023

By Ilona Wissenbach and Nick Carey MUNICH (Reuters) – Soaring demand for semiconductor chips means the auto industry could struggle to source enough of them throughout next year and into 2023, though the shortage should be less severe by then, Daimler AG’s CEO said on Sunday. Carmakers, forced by the COVID-19 pandemic to shut down … Read more

Demand revival puts auto sales in top gear, Maruti posts 50% growth

Auto sales, a key indicator of the macro economy, showed significant growth in July, with passenger vehicle volumes improving on the back of a healthy order book and an uptick in enquiries and bookings in urban and rural areas. The wage revisions for government employees have also likely aided demand.   India’s largest carmaker, Maruti … Read more

From April, new cars must have airbag for front passenger seat

New models of all cars will have to provide airbags for the front passenger seat from April 1 while all existing models can be sold after August 31 this year, only after being fitted with this safety gear. This mandatory provision was notified by the road transport ministry on Tuesday. “This has been mandated as … Read more

Auto sales take fast lane in Dec; carmakers see double-digit rise in sales

Indian automakers replenished stocks before the new year, helping wholesale auto sales witness healthy growth. Inventory was lower than usual for passenger vehicles and tractors, leaving headroom for higher inventory filling in the coming months, industry executives said. They said spillover demand from the festive season and inventory refilling would drive demand for passenger vehicles … Read more

The world’s biggest oil trader wants to buy your used car

If you live in Turkey or Pakistan and are looking to sell your car, the world’s biggest independent oil trader wants to make a deal. Vitol Group, which traded more than 8 million barrels of oil and petroleum products a day in 2019, is getting into the used-car business. The storied trading house, founded more … Read more