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.

What scrappage incentives are doing to the European market

Scrappage incentive By Glenn Brooks Motor Industry 21 May 2009 10:15 Remember the old shape Skoda Octavia? We might not be able to buy it in Blighty but it’s roaring up the sales charts in Germany thanks to scrappage incentives on offer there. All across Europe, cash-for-clunkers schemes are turning markets upside down, with the brands that offer the most car for the money the biggest winners.

Jaguar designer Ian Callum creating his own Jaguar Mk II

Jaguar’s Director of Design, Ian Callum, has commissioned Classic Motor Cars to create a very special one-off classic Jaguar Mk II. For those of a certain age, the MK II Jaguar was the car the police used to chase bank robbers. who themselves were driving a MK II Jags, in the 1960s.