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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.

Drivers unmoved by electric cars

SUPPORT for electric cars appears to be failing to spark off real interest from drivers, according to a survey of more than 3,000 motorists. Only 1% of UK drivers own an alternative fuel vehicle (AFV), while CO2 emissions are at the bottom of the checklist when Britons are shopping for a new car, the poll by Auto Trader found. Since January 2011, motorists have been eligible for up to £5,000 upfront cost relief on the purchase of a new electric vehicle but the survey showed that 35% of drivers were unaware of this grant.

Rolls-Royce's revised Phantom meets bloggers

'Rolls-Royce only embraces new technology where it enhances the overall experience.' Reassuring words delivered calmly but assuredly in Germanic English by Jörg Bause, director of manufacturing for the Goodwood-based prestige car manufacturer. Somewhat surprisingly this wasn’t a crowd pleasing-speech designed to rouse an audience of loyal clientele, but rather to a small congregation of seasoned Southern journalists, television news reporters and... bloggers?