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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.

2014 Cadillac XTS adds new twin-turbo V6

Cadillac is adding a new 420-hp, twin-turbo 3.6-liter V6 as an option for its XTS sedan for 2014. General Motors unveiled the engine back in March, confirming that it will be an option on the new-for-2014 Cadillac CTS, and recent Cadillac press materials confirm that the engine option will be expanded to the XTS. The all-aluminum engine makes use of direct-injection technology and is the highest-output V6 in GM history.

Mercedes-Benz to launch teen driving school in Los Angeles

Mercedes-Benz is set to launch its first U.S.-based teen driving school in Los Angeles this October. The school will be modeled after one Mercedes launched in the United Kingdom in 2009. A full driver's-education program will incorporate training online, in the classroom and behind the wheel.