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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.

Frankfurt 2011: VW Nils EV Go-Kart Video

VW Nils revealed at Frankfurt There have been quite a few of these very small, go-kart-style urban commuter cars cropping up of late, but perhaps the Volkswagen Nils is the most promising. The most promising because if – and it’s a very big if – commuters take to the idea of a grown-up version of a soap-box Kart with an engine for getting to work, the VW Nils will possibly offer the best combination of practicality, refinement and cost. Yes, there’s the Audi Urban Concept to consider, but that will be more expensive (there’s a reason Audi makes VW 40% of its profits), so if commuters do actually find appeal in this route then the Nils is probably the front-runner.

Kia launches Cadenza as replacement for Amanti sedan, hits North America in 2011

Kia is replacing its Amanti large sedan with a new model called the Cadenza, which was unveiled today in South Korea. It goes on sale there this year and in North America in 2011. The five-seat Cadenza is shorter than the Amanti but has a longer wheelbase delivering more interior space, Kia said in a release.