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Car sales plunge, Bank of England cuts rates

New car sales plunge in October: Renault sales were down by more than half By Nigel Wonnacott Motor Industry 06 November 2008 12:30 Following the sixth monthly decline in new car sales this year (down 23% this month), economists have revised market forecasts downwards, while the Bank of England has cut interest rates by 1.5%. October’s 23% drop was the worst so far and trade body SMMT now fears sales could end the year at just 2.15 million cars. That’s 8% lower than the 2.34 million predicted to leave showrooms back in January and would be the worst market performance in more than a decade.

Florida man claims ownership of long-lost Cunningham Corvette

A Florida man says the long-lost 1960 Chevrolet Corvette race car that made a brief public appearance in Carlisle, Pa., last week was owned and raced by his father in the 1970s, and claims the car belongs to him. The challenged ownership of the maroon-colored car--one of three raced in the 1960 24 Hours of Le Mans by Briggs Cunningham and valued by some collectors at more than $1 million--could be the reason organizers of the Corvettes at Carlisle show canceled a planned public display on Aug. 24 less than 30 minutes before the scheduled start time.

Ford CEO Alan Mulally to deliver keynote address at CES

Ford is continuing to double-down on its Sync technology as a way to separate itself from competitors, and in that theme CEO Alan Mulally will again deliver a keynote address at the Consumer Electronics Show in January in Las Vegas. He's expected to unveil the next round of Ford's Sync features at the show, which is a bellwether event for the technology industry. He also spoke at last year's show, and former GM CEO Rick Wagoner addressed it in 2008 as part of efforts by auto execs to showcase new innovations in their cars.