Washington - Major automakers on Monday reported a sharp drop in October sales, while the manufacturing sector contracted the most in 26 years as the credit crisis continued to spread to the wider US economy.

Ford Motor Co said monthly sales dropped 30 per cent from the same period a year earlier. Japanese carmaker Toyota Motor Corp reported a drop of 23 per cent, Honda Motor Co's sales fell 25 per cent and Nissan Motor Co was down 33 per cent.

Prague - South Korean car

London, Nov 3: A car, based on Ferrari, could be flying its passengers to their desired location, within just two years time.

According to a report in the Telegraph, known as the ‘Autovolantor’, the car is based on a 200,000 pounds Ferrari 599 GTB, and is being developed by “Moller International”.

It will have the ability to take off vertically and hover, thanks to eight powerful thrusters which direct air down for take off. Vents then tilt so the car can fly forward.

The car is expected to be able to do 100mph on the ground and 150mph in the air. The calculated airborne range is 75 miles and ground range is 150 miles.

The net profit of Auto major Tata Motors declined 34 percent in the July-September period. Its net profit stands at Rs 346 crore which was Rs 526 crore last year. The company has to pay for high input cost, high interest rates and world financial crisis. The sale of auto major increased 7% to Rs 7029 crore in the same period. But its operating margin fell to 8.13% which was earlier 9.2%.

Stuttgart - Porsche joined other German carmakers Saturday in announcing a temporary halt to production because of dwindling sales triggered by the global economic crisis.

A spokesman for the sports carmaker in Stuttgart said the company was extending the Christmas holiday period for workers by three days.

He said the company's main plant at Zuffenhausen would remained closed from December 22 until January 9, 2009.