The world's cheapest car, Nano is expected to hit roads from Sanand plant in Gujarat by end 2010, according to top officials of the company. Large scale construction activities for buildings and pre-engineering structures are going on at full swing at Sanad, near Ahmedabad.

Luxury car maker Mercedes-Benz India would recruit more number of professionals, increasing total headcount of workforce to four-fold, at the research and development centre in Bangalore in the next few years and will invest around Rs 150 crore with the help of partners to expand its business network in the country.

TVS Motors, the third largest two-wheeler manufacturer in India, has finally rolled out its new stylish and futuristic 'Scotty Streak' in the domestic market. The company's latest scooterette targets girls in 16 to 20 age group.

The newly introduced 90 cc Scotty Streak, comes with sharp head lamps, LED tail-lamps, broad anti-skid tyres, and external fuel fill at the rear.

The company claims that bike is fitted with LiTech engine, which makes it lighter than comparative models of other manufacturers.

Country's passenger car sales grew 22%, the highest growth rate in current financial year, in February while commercial vehicle segment continued to decline, registering a drop of 32 per cent, despite various measures announced by government in its economic booster package including decline in excise duty.

Country's largest automobile company Tata Motors on Tuesday informed that it has entered into a tie-up with the Union Bank of India (UBI) for financing its range of passenger vehicles.

Under the arrangement, the lender will offer car loans up to 85 per cent of invoice, for tenure ranging up to five years, at a rate of 11-11.25 per cent.

The loan facility will be available at all branches of Union Bank of India and 329 sales touch-points of Tata Motors, company stated in a release.

Tata Motors, India’s biggest automobile company, has signed up a contract with Union Bank of India with the aim to finance its range of passenger vehicles.

The company’s aim is to offer an additional facility of car finance to its clientele.

The banking institution provides car loans up to 85% of invoice, for term ranging up to 5 years, at a very competitive rate of 11% to 11.25%.

The facility will be available at UBI divisions and 329 sales touch points of Tata Motors.