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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.

Crash injuries force Franchitti to retire

SCOTTISH RACING STAR Dario Franchitti has been forced to retire after suffering a number of injuries in a high-speed crash during a race in the US last month. The four-time IndyCar series winner spent five days in hospital after suffering concussion, a fractured vertebrae and a broken ankle in the last-lap crash at the Grand Prix of Houston in Texas. Franchitti, originally from Bathgate, West Lothian, said he had taken the decision based on medical advice.

Hummer nears the end of the trail

The curtain is rapidly falling on Hummer, General Motors' ill-fated rough-and-tough brand of trucks and SUVs. The final H3 rolled off the assembly line at 9:07 a.m. Central time on Tuesday at the Hummer factory in Shreveport, La., marking the end of production for the brand, a spokesman said.