Stockholm- Swedish heavy-vehicle maker Volvo on Friday reported a pre-tax loss of 5.8 billion kronor (692 million dollars) for the first quarter of 2009, as demand "sharply" weakened.

In the corresponding business period of 2008, the Volvo Group, which does not include the Ford-owned car division, posted pre-tax income of 6.1 billion kronor.

Net sales plunged 27 per cent to 56 billion kronor, resulting in a net loss of 4.3 billion kronor for the quarter.

Germany/Washington - In the high-stakes scramble for survival in the car industry, Italian car manufacturer Fiat Friday said it could pursue a deal with GM's Opel and Vauxhall brands if the pending partnership with Chrysler collapses.

Fiat chief executive Sergio Marchionne said that completing arrangements with Chrysler by the US-government-imposed deadline of April 30 was still his "first and foremost objective," the Detroit Free Press reported online.

But if that falls through, he would pursue the Opel and Vauxhall path.

Washington - Under government pressure to prove its viability by June 1 and bracing for a prolonged recession, General Motors on Thursday announced an unprecedented series of nationwide summer plant shut-downs to reduce ballooning inventory.

Meanwhile, with an April 30 deadline looming for the smaller Chrysler, the government was already drawing up a bankruptcy filing that would protect Chrysler union members' pensions and retiree health-care benefits, The New York Times reported.

After a long-waiting period Honda Siel Cars (HSCI), the largest player in the mid-size cars, has finally decided to enter the small car market segment, with launch of its latest model 'Jazz'.

According to reports, the new car will have a new 1.2 litre engine, which was developed exclusively for the Indian market, carrying highest fuel efficiency in its segment.

In addition, Jazz will have all the features found in a premium large car.

Rattan Tata's dream small car Nano has been scaling new milestones due to heavy interest shown by common people and some corporate houses. Recently, Shree Cement Managing Director, HM Bangur announced to place a bulk order of 1000 Nanos on the eve of Earth Day on Wednesday.