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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.

UK 2011 car sales analysis: winners and losers

The UK car market fell 4.4% in 2011 to its worst year for at least a decade. Brits bought 1,941,253 vehicles last year as private motorists put off that new car purchase and stuck with their existing wheels or went secondhand. Retail sales took the brunt of the fall, with a 14% collapse on 2010's figures.

Volvo S60 Polestar revealed

The Volvo S60 Polestar has been revealed as a 508bhp version of the S60 T6 with widened track and huge turbo. We knew there was a Volvo S60 Polestar on the way, because Volvo teased us with it. What we didn’t know, and still don’t for sure, is whether the S60 Polestar is a one-off like the C30 Polestar or whether it will become a production model.