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The world’s two largest automakers are working on ultracheap cars to sell in emerging markets and possibly compete with the $2,500 subcompact unveiled last week by India’s Tata Motors — but whether they can match the price remains in question. During the North American International Auto Show in Detroit, top executives from GM and Toyota said their companies’ engineers are working on low-cost vehicles similar to Tata’s Nano. GM’s Chinese mini-vehicle joint venture, SAIC-GM-Wuling Automobile Co., already is building a car that sells for around $3,500, officials said.
