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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.

Best in Show from Frankfurt

The United States auto industry continues its strong recovery from the near-fatal recession of 2008/9/10. The European auto industry? Not so much.

Porsche 911 GT3 R Hybrid at the Nurburgring – Video

The Porsche 911 GT3 R Hybrid Nurburgring video below In February we reported that Porsche has developed the unthinkable – a hybrid 911. But this wasn’t a hybrid 911 with a bank of batteries and a fluffy-bunny conscience, but a rampant track 911 with a great big electro-magnetic flywheel and a KERS-like thump of an extra 160bhp – the Porsche 911 GT3 R Hybrid. The 911 GT3 R uses technology developed by Williams F1 and comprises of a pair of generators in the front wheels that shove energy to a composite flywheel (conveniently located next to the driver – not sure how well that would go down on a road0going version) which is the stored and can be thrown at the back wheels whenever the driver wants, in a way very similar to KERS.