Stockholm  - Swedish heavy-vehicle and bus maker Scania posted higher second quarter profits Friday, driven by strong demand from Russia, the members of the Commonwealth of Independent States, Latin America and Asia.

Pre-tax profit for the quarter was 4.24 billion kronor (702 million dollars), compared to 2.89 billion kronor for the corresponding business period 2007 - well above analysts forecasts.

Second-quarter sales increased from 20.9 billion kronor to 23.89 billion kronor.

"Order bookings decreased in Europe, while demand was strong in Russia and other CIS countries as well as in Latin America and Asia," Chief Executive Leif Ostling said.

As the fuel crisis is increasing in the world, auto companies are thinking on the alternative to fuel by introducing cars which use alternate source of energy. TATA has also decided to introduce a car which operates on electricity. It is announced by chairman of tata group, Mr. Ratan Tata in the annual general meeting on Thursday.

TATA will launch electric car in Norway in current financial year and likely to introduce in other markets in the next financial year. Tata is also working on compressed car project with a company in France. This car would be totally environment friendly and free of pollution. Company is trying its best to in enter in the field of bio-fuel.  

Tokyo - Honda Motor Co said Friday that its net profit increased 8.1 per cent in its first quarter to 179.61 billion yen (1.67 billion dollars), thanks to strong sales in Asia and Brazil.

Japan's second-largest automaker reported a 2.2-per-cent decline in sales in the April-June quarter to 2.87 trillion yen.

Its operating profit, or a company's earnings minus interest payments and taxes, which are seen as a measure of its earnings power from ongoing operations, fell 0.2 per cent to 221.35 billion yen.

Paris - Faced with a weakening automobile market and rising costs for raw materials and transport, French auto maker Renault said Thursday it would cut jobs to reduce overhead costs by 10 per cent.

The move was to be based primarily on what the company said would be "voluntary departures," most of them in Europe. The announcement was made as Renault announced excellent first-half profits and sales results.

Renault provided no details about how many jobs would be cut, but French radio station RTL reported Thursday that it involved some 7,000 employees, most of them in France.

The station also said that Renault head Carlos Ghosn had discussed the step with French President Nicolas Sarkozy late Wednesday.

Bangkok - Exports of Honda products manufactured in Thailand increased 18 per cent in the second quarter of 2008, year-on-year, earning 28.5 billion baht (856.5 million dollars) in foreign exchange, Asian Honda Motor Company announced Thursday.

Exports for the first half of 2008 amounted to 55.6 billion baht (1.7 billion dollars), Honda's Bangkok-based regional headquarters revealed.

Honda has been using Thailand as an export base since 1987.

New York  - The US automaker Chrysler, the country's third largest and deep in the red, Wednesday said it planned to cut another 1,000 salaried jobs as sales tumbled 22 per cent in the first six months this year.

The company would use "retirements, special programs and attrition," to complete the reductions by September 30, spokesman Dave Elshoff was quoted as saying by Bloomberg financial news.