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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.

Car production up again in June

THE NUMBER OF CARS produced in the UK rose last month. A total of 136,419 vehicles were manufactured in June 2014 - a 3.7% rise on the figure for the same month last year, the Society of Motor Manufacturers and Traders (SMMT) said. The latest figures took the year-so-far total to 791,314 - a 3.5% increase on the January-June 2013 figure.

Dacia won’t build a car smaller than the Sandero

The Dacia Sandero (pictured) will remain Dacia’s smallest model In austere times, budget buys sell. Which is why Dacia is having so much success with its compact Sandero and Duster SUV. With prices on the Sandero starting at just £5,995 and Duster SUV prices as little as £8,995 (although you’ll have to pay £10,995 for a 4WD version), car buyers are buying Dacias as quickly as Renault can build them, with sales in a European market that shrank by 7 per cent last year up by 18 per cent to 90,000 cars for Dacia.