The gloomy financial picture has prompted New York City to put 700 vehicles in its car fleet up for sale by the end of March, the New York Times reported Friday.

Mayor Michael Bloomberg issued the order as part of a New Year's message, announcing that the city's fleet of 6,800 cars must lose some weight. The order affects everyone from police to parks administrators and health officials.

Today, The much awaited Tata's One Lakh Rupees car 'Nano' was launched by Ratan Tata, Chairman Tata Motors Limited at 9th Auto Expo in New Delhi. (TATA Nano Pics)

India?s largest car maker Maruti Suzuki India Ltd. is showcasing three concept cars at the Auto Expo 2008 in New Delhi.

These include Concept A-Star, Concept Splash and Concept Kizashi. Production models, based on Concept A-Star and Concept Splash, will be launched in India in the near future, and will contribute to the company?s goal of achieving one million unit sales by 2010.

Bajaj Auto Ltd. on Tuesday formally announced its plan to launch a low-cost small car in two to four years.

Bajaj's announcement comes two days before Tata Motors unveiling of its one lakh rupee car at an auto show.