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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.

BMW M3 Edition (2009): first official photos

By Peter Adams First Official Pictures 03 June 2009 16:06 BMW has launched a new edition of the M3 coupe called, rather unimaginatively, the M3 Edition. And, no, it’s not a CSL-style major overhaul. The one technical difference compared to a standard M3 is a 10mm lower ride height.

Koenigsegg Agera R: Geneva bound

The first Koenigsegg Agera R - produced for the Oman Royal family This time last year – give or take a week or two – we heard a whisper that Koenigsegg had something new planned for Geneva. A day or two of furtling around and we were able to report a week later that Koenigesegg were indeed taking something new to Geneva – the Koenigsegg Agera. The Agera duly turned up at Geneva in March and the last year has seen a number of orders for Ageras, although so far – to the best of our knowledge – just two Ageras have been delivered.