Ford's India subdivision announced today that it sold 71,347 units from January 1 until July 31, which corresponds to a 45% increase compared to the same period of 2010 when it delivered 49,131 units.

The Detroit firm wants to further increase its presence in the country and has announced the signing of an MoU (Memorandum of Understanding) with the State of Gujarat to invest approximately $1 billion to build two new plants in addition to the one in Chennai, for vehicle and engine manufacturing on a 460-acre site in Sanand.

M&M is not just a well-known candy but also the name of a part of the Mumbai-based Mahindra Group - an Indian conglomerate with a market value of $17.6 billion that has 119,900 employees in more than 100 countries and is involved in almost everything from banking and agribusiness, to aerospace technology and real estate.

M&M, which stands for Mahindra & Mahindra, is the flagship company of the Mahindra Group and has a presence in both the automotive and tractor businesses. Anand Mahindra, son of one of India’s richest families, leads the company.

Mahindra certainly has great ambitions for his company and SsangYong, the bankrupt Korean manufacturer which he bought in November 2010. Automotive News reports that Anand recently stated “We want to be India’s first global cult brand”.

Toyota is planning to launch a new small car designed specifically for China in 2013, according to a report from Reuters citing the Nikkei business daily newspaper.

The new small car will be a little larger than the low-cost Etios that is sold in India. A 1.5-liter gasoline engine will power it and prices are expected to begin from under 1 million yen (approximately US$12,853).

Tata Motors’ owner, Ratan Tata, confirmed today in the company’s annual report that the Indian carmaker is considering developing an engine in cooperation with its Jaguar Land Rover division.

"To optimize the synergistic strengths between JLR and Tata Motors in India, an examination is also under way on a joint engine development program which would have manufacturing facilities both in the U.K. and India," Ratan Tata stated.

Here at Carscoop we’ve shown you Ferrari F430 clones based on all sorts of sports cars ranging from the oh-so popular Pontiac Fiero to the Toyota MR2 and even the Toyota Celica. Now it’s time to show you an F430 doppelganger of even more humble origins as this creation is reportedly based on a Toyota Corolla.

Here at Carscoop we’ve shown you Ferrari F430 clones based on all sorts of sports cars ranging from the oh-so popular Pontiac Fiero to the Toyota MR2 and even the Toyota Celica. Now it’s time to show you an F430 doppelganger of even more humble origins as this creation is reportedly based on a Toyota Corolla.

Indian industrial giant Mahindra & Mahindra announced today that it has completed the acquisition of a majority stake in South Korea's SsangYong Motor Company, with the deal also signaling that SsangYong is no longer in court receivership. Mahindra won the bid for the troubled Korean carmaker in August 2010.

Indian industrial giant Mahindra & Mahindra announced today that it has completed the acquisition of a majority stake in South Korea's SsangYong Motor Company, with the deal also signaling that SsangYong is no longer in court receivership. Mahindra won the bid for the troubled Korean carmaker in August 2010.