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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.

Lincoln MKZ

Lincoln has released details and images of the production version of the Lincoln MKZ, first seen in concept form at this year's Detroit auto show. The production MKZ is largely unchanged aside from details such as door handles and larger side mirrors, while Lincoln has retained classic design elements such as the split-wing grille, albeit with a slimmer, sportier twist. Lincoln Design Director Max Wolff says, "The exterior's front graphic is repeated in the dramatic sweep of the new instrument panel, helping tie the interior to the exterior in a harmonious manner." The exterior of the MKZ is characterized by its sweeping roofline which features a 4633mm2 retractable panoramic roof.

GM to seek another shared Toyota model to replace Vibe

Even as it shrinks its North American product portfolio, General Motors is negotiating with Toyota Motor Corp. to determine a new GM product to be jointly produced at the automakers' 50-50 joint venture, New United Motor Manufacturing Inc. A GM spokesman said that, if successful, the negotiations would result in a new model for one of GM's surviving brands -- Chevrolet, Buick, GMC or Cadillac.