Wolfsburg, Germany  - Volkswagen is to launch its eagerly awaited new Golf 6 model in October, Europe's biggest carmaker said Tuesday.

Following its introduction in Europe, the company's top-selling car will be sold in Africa, Asia, Australia and North America.

VW chief executive Martin Winterkorn said the company hoped to sell 600,000 of the new model during its first full year of production in 2009.

Last year, VW sold 580,000 of the current Golf 5 model.

Tokyo  - Toyota Motor Corp was to gain full ownership of its South African subsidiary by late August, the Japanese company said Tuesday.

Toyota reached an agreement with its joint venture partner Wesco Investments Ltd to acquire the remaining 25-per-cent share in Toyota South Africa (Pty) Ltd, worth about
29.8 billion yen (276.3 million dollars).

By making the South African unit a wholly owned subsidiary, Toyota plans to boost local production, sales and exports, Japan's top carmaker said.

Tokyo - Toyota Motor Corp was

Hong Kong - In a city that has a higher proportion of Rolls- Royces than anywhere else in the world, soaring fuel prices have led motorists to shun luxury, petrol-guzzling cars in favour of fuel efficient vehicles, a media report said Monday.

Sales of new cars such as Mercedes Benz and BMW with engines of 3,500cc or larger have fallen about 5 per cent since May when oil topped 120 dollars a barrel, the South China Morning Post said.

"The trend was even more apparent in the second-hand market, which saw a drop of about 7 per cent in price for BMW sedans and its comparable middle-price series," said James Kong, vice-president of the Hong Kong Automobile Association.

Ahmednagar Forgings Ltd has announced that the Board of Directors of the Company, at its meeting held on July 31, 2008, inter alia, have approved merger of Ahmednagar Forgings Ltd into Amtek Auto Ltd.

Amtek Auto is a leading producer of automotive components.

The company (Ahmednagar Forgings) is being unified along with Amtek India, Amtek Ring Gears, Amtek Crankshafts India and Amtek Casting India into Amtek Auto.

Washington - The lowest auto demand in the United States since 1993, soaring fuel prices and a weak economy have impacted General Motors, Toyota and Chrysler, which Friday reported a drop in July sales.

Troubled US car giant General Motors reported a 27 per cent decline in July US sales, as well as a massive second-quarter loss of 15.5 billion dollars, or 27.33 dollars per share.

GM and its US competitors Ford and Chrysler have been hit by a fall-off in the sales of sports utility vehicles due to high petrol prices and are now trying to switch production to smaller, more economical cars.