Steady rise in metal prices is a big risk for the automotive industry

Oil prices tumbled around 3% on Wednesday as investors worried that rate hikes by the Federal Reserve could push the U.S. economy into recession, dampening demand for fuel. Brent crude futures fell $2.91, or 2.5%, to settle at $111.74 a barrel. The global benchmark hit a session low of $107.03, its lowest since May 19. U.S. West Texas Intermediate (WTI) fell $3.33, or 3%, to settle at $106.19 a barrel. The session low was $101.53, its lowest since May 11. Investors assessed on Wednesday how interest rate hikes designed to cool soaring inflation might stall an economic recovery. Oil prices pared losses, however, during the session after Fed Chair Jerome Powell pledged an "overarching focus" on bringing down inflation and reiterated that ongoing increases in the central bank's policy rate would be appropriate, with the pace depending on the economic outlook. "Powell seemed to change the mood of the market by seeming confident about the U.S. economy," said Phil Flynn, analyst at … [Read more...] about Oil Falls Around 3% As Investors Eye U.S. Fed Rate Hikes

The interior of a Hyundai Motor Co Ioniq 5 electric vehicle (EV) automotive robo-taxi displayed in the Gangnam district of Seoul, South Korea, on June 9, 2022. (Photo: Bloomberg) Pipe down for a second Elon, the hottest things in the auto industry — the most electric electrics — now come from Hyundai Motor Co. Earlier this year, the South Korean carmaker rolled out two new battery-powered cars — the Hyundai Ioniq 5 and its sibling, the Kia EV6 — which promptly tore up the sales charts, passing the Nissan Leaf, Chevrolet Bolt and every other electric vehicle on the market not made by Tesla. In the United States this year through May, Hyundai sold 21,467 of these two machines, besting even the white-hot Ford Mustang Mach-E, which was snapped up by 15,718 drivers. “From an EV perspective, they’re really just kind of cleaning the floor,” said Edmunds analyst Joseph Yoon. “I honestly don’t know if any dealers around me have any in stock.” Tesla still sells far more cars, but it … [Read more...] about Sorry Elon Musk. Hyundai’s quietly dominating EV race

Home Four wheelers oi-Athul By Athul Updated: Saturday, June 25, 2022, 15:43 [IST] The Ministry of Road Transport and Highways has approved the draft notification for Bharat-NCAP. This will allow the OEMs to test their vehicles in the country's own in-house test facilities - inching a step closer to becoming Aatmanirbharbharat. New Car Assessment Program, otherwise known as NCAP aims to improve the safety of automobiles. USA laid the foundation stone for what NCAP is today with a programme to let its consumers know about the crashworthiness of a new car in the US market. This programme eventually evolved and became New Car Assessment Program (NCAP). At present, there are a total of 9 different New Car Assessment Programs (NCAP) globally. This includes US NCAP, Euro NCAP, Japan NCAP, ASEAN NCAP, China NCAP, Korean NCAP, Latin NCAP, and Global NCAP. In India, more than a few new cars have voluntarily … [Read more...] about Bharat NCAP Draft Notification Approved By MoRTH: Everything You Need To Know