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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.

Englon TXN from Geely. The new London Taxi? No Chance.

Englon TXN by Geely - supposedly on Tower Bridge A couple of weeks ago we regaled you with the sorry story of the London Cab falling in to Chinese hands. It wasn’t the most shocking story considering how feeble the London Cab has become in comparison to newer offerings like the Mercedes Taxi – which is taking a big chunk of sales from the traditional cab – but still sad to see the iconic London Taxi end up this way. London Taxis International already sourced most of the parts for the TX4 from China and just bolted them together here.

Unique pre-war Lagonda saloon headed for auction

AN ULTRA-RARE V12-engined Lagonda Hooper two-door saloon from 1939 is set to headline an auction of amazing old cars. The Lagonda V12 Hooper is technically unique in history, having been built specifically for the wife of the owner of Hooper Bodies Ltd., the most noted coachbuilder of the pre-war era. Now, 75 years after it was built, it needs a complete restoration but still looks set to receive bids topping at least £75,000.