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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 confirms its hiring of former Opel product chief Frank Weber

BMW AG confirmed it has hired Frank Weber, former head of product planning at General Motors Co.'s Opel/Vauxhall unit. Weber will become head of vehicle architecture and integration at BMW, a spokesman for the premium carmaker told Automotive News Europe today. The spokesman did not give details of when Weber will start at BMW.

Renault R-Space concept car (2011) at 2011 Geneva motor show

Renault will show off a glimpse of its thinking for the Scenic segment with the new R-Space concept car at the 2011 Geneva motor show. It’s a 4.3m long show car that’s designed to inject some pizzazz where today’s Scenic prefers a more sober style. The new-fangled Renault look as pioneered by incoming design chief Laurens van den Acker is present and correct: there’s a large diamond on the nose and heaps more character than the current MPV.