Japanese auto-manufacturer, Honda has made recall of 427,000 vehicles in the United States and Canada due to problem related to ignition interlock mechanism.

Pawan Goenka, President of the automotive and farm equipment sector at Mahindra & Mahindra Limited, announced to the media that M&M is figuring out ways to reduce the prices of automotive vehicles, starting with the release of a Logan, smaller in size and free of the hatchback design.

According to the Society of Motor Manufacturers and Traders (SMMT), the sales of new car have declined for the first time in a year due to uncertainty among consumers regarding job cuts by coalition government.

The new car registrations have declined by 13.2 percent from previous year figures to 136,446 in July 2010, marking the first monthly decline after 12 months of consecutive increase.

Japan's second-largest auto-manufacturer, Honda Motor has gained the most within the period of six months in Tokyo trading.

The world's largest auto-manufacturer, Toyota Motor Corp. is recalling 480,000 Avalon sedans and Land Cruiser sport-utility vehicles for defects in steering.

Engine and turbine manufacturer, Rolls-Royce has posted more than expected 4.5 percent increase in the first half yearly profit, boosted by strong result from its marine business.

FedEx Corp. has increased its fiscal first quarter expectation by 21 percent with the improving domestic and global economies, boosting the demand for truck and air shipments.

Ford Motor has reported profit of $2.6 billion during the second-quarter, and is expecting to recover from debt by the end of 2011.

The company has earned profit of $4.7 billion during the first half of this year, and has outperformed in the US market.

Ford is on the way to earn profit of $7.2 billion, matching its profit figures during 1999.