Renault-Nissan and Bajaj Auto Produce $3,000 Cars for a Struggling Economy

Renault-Nissan has teamed up with the Indian auto giant Bajaj Auto to produce efficient, low-cost cars. The proposed vehicle, nicknamed ULC, will cost just $3,000 and can travel up to 70 mpg. The ULC will be available in the year 2011 in India, and it is estimated that 200,000 of these vehicles will be sold each year.

Despite its low price, this car by Renault-Nissan and Baja Auto is going to face tough competition. Currently, many car companies are attempting to lower their costs to appeal to market needs; this $3,000 car is just another budget vehicle alternative.