Washington - Chief executives of the ailing "Big Three" US automakers - General Motors, Ford and Chrysler - met Thursday with two top Congressional leaders to discuss a further bail-out package and the future of the loss-making industry.
The meeting came ahead of the scheduled releases by General Motors and Ford of their third-quarter results, which are expected to report huge losses and more cost-cutting measures.
Ford India Pvt. Ltd announced an investment of $500 million in India and introduction of a small car by year 2010. Ford, in India sells Ikon, Fusion and Fiesta cars, and the Endeavor sports-utility vehicle.
Michael Boneham, president of Ford India Pvt. Ltd. Said, "The Credit crunch and the lack of confidence has affected in the short-term." Mr. Boneham further added that the plans for new models of Ikon are on track despite the difficulties.
Tata Motors, one of the largest automobile manufacturer in India, has announced closing of the Jamshedpur plant owing to a demand slump. A company spokesperson said, "About 95 per cent of commercial vehicles are purchased through financing. While we do not declare production rates, unavailability of finance, coupled with high interest rates, is forcing customers to postpone purchases."
Hyundai Motor India Ltd. (HMIL) launched the i20 cars in the European market. These were premiered at the Paris Motor Show last month. The company has dispatched a consignment of 2,820 cars from the Chennai port for Europe.
i20s are very sophisticated new generation vehicles of Hyundai. These are designed at its Russelsheim design center in Germany. It is designed to fit in the European environment and pollution norms. The car will be available in 1.2 litre, 1.4 liter and 1.6 liter variants and will be powered by both diesel and petrol engines.
Toyota Motor Corporation (TMC) considers India as a potential market for its new models. It would double its investment in the country in the coming times. TMC has decided to invest Rs 3,200 crore in India. The company has decided to set up a new manufacturing plant at Banglore. It would make the Toyota Kirloskar Motor Private Limited (TKM) site more efficient by increasing its production capacity.
Washington - Chief executives of the ailing "Big Three" US automakers - General Motors, Ford and Chrysler - met Thursday with two top Congressional leaders to discuss a further bail-out package and the future of the loss-making industry.
Ford India Pvt. Ltd announced an investment of $500 million in India and introduction of a small car by year 2010. Ford, in India sells Ikon, Fusion and Fiesta cars, and the Endeavor sports-utility vehicle. 
Tata Motors, one of the largest automobile manufacturer in India, has announced closing of the Jamshedpur plant owing to a demand slump. A company spokesperson said, "About 95 per cent of commercial vehicles are purchased through financing. While we do not declare production rates, unavailability of finance, coupled with high interest rates, is forcing customers to postpone purchases." 
Hyundai Motor India Ltd. (HMIL) launched the i20 cars in the European market. These were premiered at the Paris Motor Show last month. The company has dispatched a consignment of 2,820 cars from the Chennai port for Europe. 
Toyota Motor Corporation (TMC) considers India as a potential market for its new models. It would double its investment in the country in the coming times. TMC has decided to invest Rs 3,200 crore in India. The company has decided to set up a new manufacturing plant at Banglore. It would make the Toyota Kirloskar Motor Private Limited (TKM) site more efficient by increasing its production capacity.
