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.

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.

Toyota Motor Corporation (TMC), a well known Global automobile giant, will soon be introducing its newly designed compact car in the Indian market, for which it laid the foundation stone for a Rs 14,00 crore new factory near Bangalore on Thursday. The top company officials reported that the compact new car is expected to hit the Indian roads by the mid-2010 and is currently being developed by Toyota engineers with inputs from Indian engineers.

The Karnataka Chief Minister, B S Yeddyurappa laid the foundation stone at Bidadi, in the presence of Akira Okabe, Senior Managing Director, TMC, Ryoichi Sasaki, Chairman, Vikram Kirloskar, Vice Chairman and Hiroshi Nakagawa, managing director, Toyota Kirloskar Motor Pvt Ltd.