It seems that Moller International is determined to turn dreams into reality; that's why the company has announced that within the next two years, it would come out with Autovolantor, a flying car. Autovolantor is supposed to be based upon Ferrari 599 GTB model since the shape and layout is apt to remodel it into the flying machine, and would carry a rice tag of 50,000 pounds.

The car has been equipped with vents that would tilt in order to keep the car in the air. The car will have a speed of 100 mph on ground and in air it will have a speed of 150 mph.

The Ford India Pvt Ltd Company 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" however adding that the plans for new models of Ikon "are on track despite the difficulties".

Tokyo - Toyota Motor Corp on Thursday sharply lowered its earnings projections for the current fiscal year because of a rising yen and slowing auto demand in the United States and Europe amid the global financial crisis.

Japan's leading automaker expected operating income of 600 billion yen (6 billion dollars) for the year that ends March 31, down 62.5 per cent from its initial projection in May.

The figure would also represent a fall of 73.6 per cent from the operating income earned the previous fiscal year.

The sale of super luxury cars in India registered growth despite the global financial crisis. The luxury car makers, such as BMW, Mercedes-Benz, and Volkswagen are looking for markets in developing countries such as India and China. They consider India as a potential market for high-end car sales.
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The sales of Mercedes Benz registered a decent growth in the Indian market. The comapny has sold 3141 units from January to October 2008. It has sold 2141 premium units in the same period last year according to Director (Sales and Marketing), Mercedes Benz India, Sanjiv Sahajawala. 

A leading car maker from China is likely to set up a car manufacturing plant in West Bengal. The state government hopes that the company would set up the plant at the site, vacated by the TATA Motors after stiff opposition from Trinamool congress led opposition parties.

A team of officials from Chinese company, First Automobile Works (FAW), would soon visit the different locations in the state for the the project. It would tie up with Ural India for Rs 1,500-crore automobile manufacturing unit in Bengal.