Berlin - German luxury carmaker Porsche, which holds almost a third of mass producer Volkswagen, is to publish figures for the financial year ending July 31 that will show profits higher than turnover, a news report said Saturday.

Der Spiegel news magazine said the unusual accounting situation would result from the revaluation of the 31-per-cent VW stake. Porsche would report profits of more than
11 billion euros (17 billion dollars) on turnover of just 8.6 billion euros.

Wolfsburg, Germany - Volkswagen is to build the right-hand- drive version of its new Golf model at its main German plant in Wolfsburg, shifting production from its plant at Uitenhage on South Africa's southern coast, the company announced Saturday.

VW South Africa head David Powells told the newspaper Wolfsburger Allgemeine Zeitung the RHD version of the Golf VI, aimed at the Asia- Pacific and African markets, would be available in October.

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.