While devs and studios in the traditional development areas such as Europe, the USA and Canada maybe tightening belts and popping out sequels, an Indian studio called Version 2 Games (a subsidiary of Zen Technologies is brining a its debut PlayStation 3 release to PSN on Feb 9th.It describes the title - called
Smash ‘N’ Survive as "brutal vehicle combat". Have a look at the trailer.
More info is available here.