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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.

Volkswagen Beetle (2011) first official pictures

After 11 long years on sale the New Beetle is dead – its successor is this, The Beetle. We'll just call it the new 2011 VW Beetle. 2011 VW Beetle: trading flower-power for outlaw rodder Wider, lower and longer, the 2011 Beetle abandons its predecessors three semi-circle styling for the flat-roof look of 2005’s hot rod-inspired Ragster concept. At the front, the Beetle adopts the corporate horizontal intake styling and a more angular front bumper melded with a less curvaceous evolution of the 1998 New Beetle styling template.

Scrappage: US to get Cash for Clunkers

The US is to get their own Scrappage Scheme - Cash for Clunkers So even though our Scrappage Scheme is pretty flawed, it may well be having an impact – at least until the relatively modest amount set-aside for the scheme by the Government is exhausted. And now it’s the turn of the US to launch a Scrappage Schem – Cash for Clunkers. Cash for Clunkers legislation was passed yesterday in the US to try and kick-start US car sales, and give a boost to beleaguered car makers like GM and Chrysler.