Top 5 much awaited economy cars in India

India is undoubtedly the fastest growing automobile industry in the world. And what do Indian consumers need? That's what all automobile companies are brainstorming after. Is it style? Is it comfort? Is it mileage? Is it price? Well, if you give us all these features in one car, we are more than happy. And hence the answer - economy cars. Local Startups:
Small is definitely the new big and the world watched with keen interest the developments on this front in India. For the first time, multinational companies are carefully studying the Indian market, deciphering its needs, desires and aspirations, and then developing cars which will be sold around the world and, at times, manufactured in India. Indians who give prime importance to family and basically likes to go places with them definitely prefer small cars over big ones. To serve the cost-effective mileage oriented buying habit of Indians arrive new economy cars. Stay tuned for those mesmerizing machines. Here are top 5 among them:

Volkswagen Up - Volkswagen Up is the upcoming new family car from Volkswagen and the cheapest car from the Volkswagen stables. Volkswagen Up debuted at the2007 Frankfurt Auto Show in Germany and the cars name is synonymous with departure, activity, dynamics and the future. Volkswagen Up has unique central displays, two monitors; one 8 inch monitor which displays the vehicle speed, fuel level and range, as well as the CO2 emissions. The 7 inch monitor controls climate control, radio volume, music selection, telephone, navigation, photos and movies. The engine would likely be a 1.1 liter 3 cylinder unit or a 1.2 liter unit, the car is a typical hatchback with 4 doors and a hatch. Volkswagen will launch its cute small car, in India at a price of around Rs 3 lakh by 2010 end or 2011.

Reva NXR - This is Reva in a whole new avatar. If any of you would have visited the Frankfurt Motor Show, you would have known why. The all-new Reva is completely stunning and equally power packed. The styling is amazing, courtesy of our very own Dilip Chhabria. This next gen car boasts of high grade interiors and can easily fit four people. But what's most interesting is that it is powered by new age technology, without emissions. And don't worry, it's priced only between Rs 3,50,000 - Rs 4,30,000. Now that's innovation!

Maruti Cervo - When everyone is bringing in new gear, how can our very own Maruti stay behind? In comes the new Cervo, which is actually not very new. Do you know that all the Maruti's top selling models in India were actually Cervos or its iterations including the iconic 800, Zen and the first gen Alto? But the fifth generation Cervo that is set to launch in India has more in common grounds with the now defunct Estillo. The Cervo looks good and with a price tag in the range of 1.5-2 lakh, it will directly compete with the Nano.

Mahindra Renault Sandero - Auto major Renault were planning to launch its new hatchback Renault Sandero in India as a joint venture with Mahindra, under the name Mahindra Renault in 2010, but they have pushed the dates further into 2011. The five door Sandero is very spacious and is 4.02 meter long and has a boot capacity of 320 liters. It is expected that this Sandero edition will be powered by 1.0 liter petrol engine and will also offer an option of 1.6 liter power train. The Sandero will also be available in 1.5 liter diesel engine. The petrol engine is likely to about 1200cc capacity and diesel engine is around 1500cc capacity. It is expected to be priced at 4 lakhs.

Nissan Ultra Low Car (ULC) - This is a joint venture between Renault-Nissan and Indian motorcycle giants Bajaj. Bajaj Auto says it's a 1 lakh rupee car, which it is building with Renault and Nissan Motor, will aim at a fuel-efficiency of 30 km/litre or twice an average small car, with carbon dioxide emissions of 100 gm/km. Does't that a strong reply for the currently struggling Nano? Now if this comes true, we are sure that Nissan ULC is sure to create some serious ripple in the fuel deprived and economy crazy market.