Leading property developers have made offers for this prime property, which real estate industry sources suggest could fetch Fiat more than Rs 300 crore (Rs 3 billion).
Declining sales and sliding margins are compelling two-wheeler makers such as Bajaj Auto, Hero Honda and TVS Motors to rejig strategy, to cope with the slowdown.
At a time when the automobile industry is eyeing a market of 2 million cars by 2010, various automobile projects of industry majors, including Tata Motors and Mahindra and Mahindra, are running behind schedule.
Tata Motors sells Indica and Indigo cars, pick-up trucks and long-haul high capacity trucks that are exported to SA through its subsidiary Tata South Africa.
The financing arm of the $4.5 billion Mahindra Group, Mahindra and Mahindra Financial Services Limited, is now looking to tap overseas markets with possible ventures in the US and South Africa.
Tatas have a presence in Korea following the acquisition of Daewoo's heavy commercial vehicles business some years ago.
The demand may increase due to the untapped potential.
Mining giant eyes 51% in Ashapura Minechem's alumina project in Orissa.
Reva, the only electric car which, is exported to the UK market from India, may get a red signal from the UK government, owing to revised safety norms proposed by the UK Department of Transport.
Tata Motors, India's leading CV manufacturer, may bring its pick-up trucks, a joint venture product with Thonburi of Thailand, to Indian shores.
Toyota and Honda of Japan, and the US auto major Ford are ramping up their sales and distribution networks as they gear up to launch small cars.
Dealers expect 10-15% fall in April sales; car makers look at lowering total cost of ownership for consumers.
Bajaj Auto, which commands a market share of 26.70 per cent following Hero Honda (the country's largest two-wheeler maker), has decided to launch a bike in the executive segment (125cc) in the second quarter of the current financial year.
Close on the heels of the Mukesh Ambani-controlled Reliance Retail's possible entry into the second-hand car market, Tata Motors, the country's second largest automobile major, is planning a similar foray.
Mukesh Ambani-controlled Reliance Retail is planning a second-hand car market venture on the lines of Maruti's True Value and Mahindra's Automart.
Ceat Tyres, an RPG Enterprise-promoted company, would soon set up a sales and marketing division in Europe and the US by next year to increase its international footprint.
Mahindra and Mahindra may have more than one trick up its sleeve for the much-publicised US debut in passenger vehicles.
The world's largest tyre manufacturer, Bridgestone Corporation, Japan, through its wholly owned subsidiary Bridgestone India
With fuel cost soaring to new highs, automobile firms are launching hybrid models to tackle the problem.
The car will adhere to the small car norms as specified by the union budget and thereby will benefit from the 16 per cent excise duty.
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