OWN DAMAGE CAR INSURANCE
Did Elon Musk use a $1 million McLaren F1 car for daily use and crash it to impress billionaire Peter Thiel?
Elon Musk used a $1 million McLaren F1 car as a normal vehicle for day-to-day work and transport. It was his daily drive from Los Angeles to San Francisco and he drove 11,000 miles.
EU slaps Chinese electric cars with tariffs of up to 38%
The European Union imposed provisional duties of up to 38 per cent on Chinese electric car imports due to alleged unfair state subsidies, sparking concerns of a trade war. The move was criticised by China as "politically motivated" and "protectionist." European countries are divided on the issue, with Germany fearing harm to its auto industry. Talks with China continue, with hopes for a negotiated solution to avoid escalating tensions.
80% of marginal farmers in India affected by adverse climatic events: Report
According to the report, nearly 43 per cent of the surveyed farmers lost at least half of their standing crops. Rice, vegetables, and pulses were particularly affected by uneven rainfall. In the northern states, paddy fields often remain submerged for more than a week, destroying newly planted seedlings.
What Is zero depreciation in car insurance?
Car owners are advised to drive responsibly to save on insurance premiums and claim settlements. The concept of zero depreciation insurance ensures full invoice value payment during claims. This add-on is beneficial for new, luxury, or frequently-driven cars, and those in high-risk areas.
Europe wants affordable electric vehicles from China. But not at the cost of its own auto industry
The European Union plans to increase tariffs on Chinese-made electric vehicles due to unfair subsidies. This move aims to address the surge in Chinese EV exports to Europe, posing a threat to EU manufacturers and green tech industries.
Why might an insurance company deny your claim during the monsoon?Sandeep Saraf answers
A comprehensive policy does not guarantee that all flood-related damages will be covered. Multiple types of damages can occur during a flood, such as engine damage, electrical damage, interior damage due to water seepage, or gearbox damage. A normal comprehensive package covers these to some extent, but not 100%. We recommend a few add-ons for every customer purchasing a car insurance policy.
SBI changes gears, links car dealer commissions to their performance
State Bank of India (SBI), the country's largest lender, is set to link the commission it pays to car dealers for sourcing loans to sales, aiming to reduce costs and improve profitability. The revised payout structure will be applicable for all sourcing from June 1. Under the existing structure, dealers would earn a flat 2% commission for loan disbursals ranging from ₹50 lakh to ₹15 crore.
Tesla doing damage-control, discounts for European fleet buyers
Tesla faces challenges in Europe as repeated price cuts hurt leasing companies' fleets and slow service alienates corporate customers. Tesla is offering unofficial discounts and addressing service complaints, but struggles with falling resale values and competition from Chinese and legacy automakers. Fleet customers demand better service and lower repair costs.
Will China become the cat among India's EV pigeons?
Chinese electric vehicles are causing concern in the US and Europe due to their affordability and efficiency. The US has responded by imposing tariffs on Chinese EVs and lithium-ion batteries. India may now become a target for Chinese EVs. Stellantis is considering manufacturing Leapmotor's electric vehicles in India to avoid tariffs.
'It is desolate': China's glut of unused car factories
The facility, a former assembly plant and engine factory, had been a joint venture of a Chinese company and Hyundai, the South Korean giant. The complex opened in 2017 with robots and other equipment to make gasoline-powered cars. Hyundai sold the campus late last year for a fraction of the $1.1 billion it took to build and equip it. Unmown grass at the site has grown knee high.
These car modification could void your insurance
Indian car owners are increasingly modifying their vehicles, but it's crucial to inform insurers about any changes to avoid potential issues with insurance coverage in India.
Why you should renew your car insurance policy on time?
Renew car insurance promptly to comply with the law, avoid financial burdens, and maintain benefits like no-claim bonuses. Online services simplify the process, ensuring continuous coverage and hassle-free renewals.
Repair or replace? Insurers in this country sending electric cars to junk yards due to mechanic shortage
Electric car sales in the UK face challenges due to a shortage of trained technicians for complex EV repairs. The scarcity of repair technicians poses a threat to exacerbate this situation, particularly in the UK, where consumer adoption has remained stagnant for nearly two years. The lack of mechanics trained to handle advanced EV repairs is contributing to the escalation of repair costs.
Audi inaugurates a new pre-owned car facility in Guwahati
Audi expands with Audi Approved: plus in Guwahati, part of 26 Indian sites. Balbir Singh Dhillon cites 62% 2023 growth, aiming for 30 by 2024, reflecting the rising luxury car demand.
Understanding liability in vehicle insurance: What car and bike owners should know
Choosing the right vehicle insurance in India involves understanding liability coverage, comprehensive plans, and exclusions. ACKO provides tailored coverage, add-ons, and competitive pricing for comprehensive protection and peace of mind.
Jet-setting Taylor Swift downsizes private jet collection amidst legal threats and environment concerns
Taylor Swift sells private jet amidst legal threats, drawing attention to environmental concerns. Critics highlight the disproportionate carbon footprint of private jets, contrasting with road travel for short distances. Swift's case reflects broader issues of wealth-driven emissions contributing to climate change, emphasizing the need for systemic changes to promote environmental justice and sustainability.
Chennai flood sweeps away cars: Here's how to insure your vehicle against flood damage
Flood-related damages can encompass engine, gearbox, electric and electronic, and upholstery damage. Repairing or replacing a water-damaged engine alone can cost between Rs 75,000 to Rs 15 lakh.
Damage to EV battery, charging station while charging: Insurer launches insurance covers for this
Zuno General Insurance (formerly Edelweiss General Insurance) has launched three new add-on insurance policies which would cover electric vehicle battery, private charging station, charging cable and standard accessories. Zuno claims that these add-on policies are an industry first offering and is aimed to cover a grey area in the insurance industry.
Tesla launched its own car insurance. These drivers say it's a lemon.
Customer complaints against auto insurance companies aren’t uncommon. And there’s no way to know exactly how many have been made against Tesla Insurance and how its record compares with competitors’. That’s in part because regulators in some states where it does business – including California, Utah, Illinois and Virginia – consider details of complaints confidential.
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