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A logo of German luxury carmaker BMW BMW cut its car division’s 2022 profit margin forecast on Wednesday, the latest automaker to warn of problems from ongoing chip shortages and new supply chain disruptions as a result of Russia’s ...

BMW’s Factories In Germany And The UK Are Returning To Full Output

BMW will resume full production at factories in Germany and the UK next week after halting or slowing production in the wake of Russia’s invasion of Ukraine. The car manufacturer paused production at its factories in Munich and Dingolfing in ...

Ukrainians Modify A BMW 6 Series With A Machine Gun Turret And Give It To The Police

A machine gun or anti-aircraft gun in the bed of a regular pickup truck is a familiar image in this day and age in various parts of the world (unfortunately), but adding heavy weaponry to a luxury convertible isn’t ...

Ukraine War Will Boost VW Inventories At U.S. Dealerships

The war in Ukraine will help to boost VW dealership inventory in the United States as the automaker shifts more of its production to North America and China. Speaking during the automaker’s annual press conference, chief executive Herbert Diess said ...

If You’ve Been Waiting On A Luxury Or Super Car You Might Get It Sooner Thanks To More Sanctions On Russia

The European Union has just announced new sanctions that will stop the export of any vehicle worth more than 50,000 euros ($54,760) to Russia. The sanctions came down along with a number of other measures aimed directly at high-ranking and ...

Oil drops below $100 a barrel; could gas prices fall soon?

The heat is coming out of the oil market, and fast. Brent futures fell below $100 a barrel on Tuesday, slumping by more than $9 since the previous close. West Texas Intermediate dropped below $95, having shed more than 20% ...

How the War in Ukraine Will Affect the Automotive Industry

The war in Ukraine has been a catastrophe for all concerned. More than 500 Ukrainian civilians have been killed by Russian troops while millions have been forced to flee into neighbouring Poland, Hungary, Slovakia, and Moldova. But the effects of ...

These car companies pulled out of Russia

A list of manufacturers that said bye-bye to Russia By now it’s no question that the ill-effects of Russia’s military activities in Ukraine are being felt worldwide. From skyrocketing prices of petroleum products to the makings of a much worse ...

Bridgestone ceases manufacturing and export of all products in Russia

Following the continued conflict between Russia and Ukraine, the multinational Bridgestone Corporation has announced that it will suspend all activity in Russia. In a press release, it was announced that all the manufacturing plants in the country would cease ...

Diesel to go up PHP 13.15 per liter starting tomorrow

For 11th straight week, gas and diesel prices increase anew Motorists will once again have to bear another oil price hike. Pump prices are set to go up for the 11th straight week, with diesel set to receive its biggest ...

Renault Doesn’t Want To Exit Russia As It Fears The Nationalization Of Majority-Owned AvtoVAZ

As car manufacturers continue to pause production at Russian sites or tweak trade with the country, Renault is fast becoming the last not to alter its relationship with Russia. Renault owns a 68 per cent stake in AvtoVAZ which is ...

Oil Prices Extend Losses Ahead Of Fed Meeting

A customer fills-up his car with diesel at a gas station in Nice Oil prices shed as much as $4 a barrel on Monday, extending last week’s decline as diplomatic efforts to end the war in Ukraine were stepped ...

Ferrari and Lamborghini are latest automakers to sanction Russia amidst European conflict

Lamborghini has halted business operations in the autocratic led regime. Ferrari has ceased production of all models destined for the Russian market. The Russo-Ukrainian war may be thousands of kilometres away from the sunny locales of South Africa but ...

American Importer Of Russian UAZ Suspends All Operations In The U.S. Citing “Understandable Reasons”

Bremach, the company that brings off-road vehicles from the Russian automaker UAZ in the U.S. market, announced it suspends operations following Russia’s invasion of Ukraine. More specifically, the official website of Bremach USA states: “For understandable reasons, all Bremach operations ...

Mercedes Has $2.2 Billion Assets In Russia That Could Be Threatened By Expropriation Proposal

In its annual report, Mercedes-Benz revealed that it has €2 billion ($2.18 billion USD at current exchange rates) in assets that could be at risk if Russia’s ruling party moves forward with a proposal to nationalize manufacturing plants owned by ...

Stellantis confident it can catch up with Tesla, says CEO Tavares

PARIS — Stellantis believes it can make up ground on electric vehicle pioneer Tesla in the coming years, its Chief Executive Carlos Tavares said on Friday, adding that consumers would benefit from competition in the sector. The world’s fourth ...

Suzuki’s Hungarian Factory Will Stop Exporting To Russia And Ukraine

Suzuki’s factory in Hungary has suspended car exports to Russia and Ukraine due to the ongoing war between the two countries. The Japanese car manufacturer exports approximately 10,000 vehicles from its Hungarian factory to Russia and Ukraine each year and ...

Analysis-Ukraine Invasion Sets Back Musk's Dream For Cheaper EVs, For Now

Tesla electric vehicle chargers are seen during the winter in Hofn, Iceland Surging raw materials costs, made worse by Russia’s invasion of Ukraine, could set back the dream of Tesla Chief Executive Elon Musk and other auto executives to ...

How the SA fuel price compares to the rest of the world

South Africa pays R1.37 higher than the global average for every litre of petrol. To the dismay of all road users, the SA fuel price is expected to reach unprecedented heights in the coming months as a direct consequence ...

U.S. states weigh tax breaks to ease pain at the gas pump

A surge in U.S. retail gasoline prices to record highs has prompted governors and lawmakers in several states to consider slashing their fuel taxes and to ramp up pressure on the federal government to do the same. The push reflects ...

Russia Bans Car Exports, Stellantis And Hyundai Suspend Operations

Russia is retaliating against Western sanctions by enacting an export ban that includes more than 200 items and will last through the end of the year. A detailed list wasn’t immediately available, but the state-owned TASS News Agency said the ...

Prolonged War In Ukraine Could Be Worse For Economy Than Pandemic, VW CEO Fears

Herbert Diess, the CEO of the Volkswagen Group, said that a prolonged war in Ukraine could be “very much worse” for the German and European economies than the COVID-19 pandemic and the resulting semiconductor shortage. Interruptions to global supply chains ...

Chinese Automakers Could Benefit From Western Sanctions Against Russia

With many Western car manufacturers halting the production and deliveries of vehicles in and to Russia, it is key Chinese automakers that could benefit. China has yet to place any sanctions on Russia regarding its ongoing invasion of Ukraine and ...

Lada Halts Production In Russia Due To Sanctions Over Ukraine Invasion

The sanctions following Russia’s invasion of Ukraine are showing their toll in local production with Lada halting operations in the Togliatti and Izhevsk pants on March 5, 9, and 11. A spokesperson of AvtoVAZ said that workers will either receive ...

Lamborghini And Ferrari Suspend Business With Russia, Make Humanitarian Donations To Ukraine

As the crisis in Ukraine continues, two of the biggest supercar makers are making moves to support those affected. Both Ferrari and Lamborghini have decided to completely suspend all business with Russia with the former also donating one million Euros ...

Porsche production halts amidst Russo-Ukrainian conflict

The Porsche Leipzig factory ceased production temporarily at the beginning of the month. Affected models include the Macan, Panamera, Cayenne, 718 and 911. After losing thousands of new units aboard the now sunken Felicity Ace transport vessel, it seems ...

Russia Threatens To Nationalize The Factories Of Foreign-Owned Companies That Pause Operations

A senior member of Russia’s ruling party has proposed nationalizing the factories of companies that shut down operations in response to its invasion of Ukraine. Russia has been hit hard with sanctions, which has led a number of companies, including ...

Russian Self-Driving Tech Company Yandex Pauses U.S. Operations

Yandex, a Russian self-driving company, has paused its U.S. operations as Russia’s invasion of Ukraine continues. The company has been testing autonomous robotaxis in Ann Arbor, Michigan but has paused testing. It has also stopped making restaurant deliveries with its ...

President Biden Bans All Imports Of Russian Oil, Gas, Coal And Other Energy Products To U.S.

On March 8th, President Biden banned the import of all natural gas and petroleum products from Russia. “Russian oil will no longer be accepted in U.S. ports, and the American people will deal another powerful blow to Putin’s war ...

Shell Reverses Course, Says It’s Sorry And Will Stop Buying Russian Crude Oil After Facing Criticism

Shell plc today announced its intention to pull out of its involvements in all Russian hydrocarbons, including crude oil, petroleum products, gas, and liquefied natural gas. The decision comes after Shell was criticized for buying 100,000 metric tons of ...

U.S. gasoline price hits all-time record high

The price of a gallon of unleaded nears $7 in Los Angeles. (Getty Images) U.S. drivers are now paying more for gasoline than at any other time in history as demand surges and the war in Ukraine threatens global oil ...

Shell Defends ‘Difficult’ Decision To Buy Russian Oil At Record Discount Price

Shell is defending its decision to buy 100,000 metric tons of crude oil from Russia at a record discount. The move breaks a self imposed embargo that the oil industry had applied following the country’s unprovoked invasion of Ukraine. ...

Ukraine Conflict Could Make Microchip Crisis Worse And Hurt U.S. Plants

Russia’s invasion of Ukraine has already forced several automakers to close plants in Russia, and has even caused parts supply problems affecting BMW factories in Germany. But now it looks like the conflict could cause major problems for U.S. automakers ...

Russian Invasion Of Ukraine Could Lead To Second Wave Of Microchip Shortage

The crisis in Ukraine could have more knock-on effects down the line for the automotive sector as supplies of neon are impacted by Russia’s invasion. That could lead to a further shortage of semiconductor chips in the long term. Ukraine ...

Elon Musk tweets that Russia’s war means more oil is needed now

Elon Musk says more fossil fuel production is needed now, even if it’s bad for his electric car company, Tesla. “Hate to say it, but we need to increase oil & gas output immediately,” the billionaire tweeted Saturday, as ...

Haas Drops Russian Driver Nikita Mazepin And Sponsor Ahead Of 2022 F1 Season Over Ukraine Invasion

In response to the ongoing conflict between Russia and Ukraine, Haas F1 Team has dropped Russian driver Nikita Mazepin and terminated their contract with Russian title sponsor Uralkali, of which Mazepin’s father is the deputy chairman. After the news broke ...

Oil Surges To Multi-Year Highs As Russian Supply Shortfall Looms

Oil pours out of a spout from Edwin Drake’s original 1859 well NEW YORK (Reuters) – Oil surged on Friday, ending the week at multi-year highs as Russia’s invasion of Ukraine intensified and oil buyers shunned barrels from the ...

Russia-Owned SCF Oil Tankers Rerouting From Canada, Returning To Russia

HOUSTON/WASHINGTON (Reuters) – Two oil tankers owned and managed by Sovcomflot, the Russian maritime and freight shipping company blacklisted by the United States last week, are rerouting from their Canadian destinations, while a third is returning to Russia after ...

Russian driver Nikita Mazepin axed from Haas F1 team

Nikita Mazepin and his oligarch father Dmitry Mazepin in the presence of Russian president Vladimir Putin. A Hass VF-22 wearing a plain livery devoid of Russian branding. All is fair in love and war? Nikita Mazepin is out of ...

India to raise fuel prices from next week amid concern over inflation

Workers enter the amount into a fuel pump machine before filling up the vehicles at a petrol station NEW DELHI (Reuters) – India will raise petrol and diesel prices next week for the first time in more than four ...

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