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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.

Bugatti takes a pair of Veyrons to Shanghai show

The growth of manufacturing in Asia has minted more than a few wealthy people--the target audience for Bugatti. The French-based boutique carmaker took two examples of the Veyron to this week's Shanghai motor show--the Asian debut for the Veyron 16.4 Super Sport and an individually customized 16.4 Grand Sport. The Veyron 16.4 Super Sport in Shanghai wears black-colored carbon-fiber bodywork, accented with polished and anodized aluminum trim such as the badges and wheels.

Kia Picanto wins design award

Kia's growing design prowess isn't going unnoticed. The firm's latest prize comes from the iF design awards, for the three-door Picanto. The award recognizes design quality alongside a number of other criteria, including workmanship, innovation and eco-friendliness.