As India is emerging as a global hotspot for four-wheelers, top guns in the auto industry are inventing ways to capture the largest share and fiddling with the buzz word – ultra-cheap cars.

Renault-Nissan is looking at replacing auto rickshaws from Indian roads completely. They have already entered an agreement with Ashok Leyland to churn out low cost trucks and with Bajaj Autos to engineer a $3,000 car by 2010. India’s Tata Motors aims to launch its long-awaited $2,500 car in 2008.

Maruti is currently out of the ultra-cheap car loop. Tata is still in the fray even after a lot of political turmoil in their small car plant in West Bengal. It is time for consumers to ponder about how the Renault-Nissan combo is going to compete with the three-wheelers in India.