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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.

Barrett-Jackson and Ford team up to combat juvenile diabetes

Ford will auction off its first retail 2015 Mustang GT at the Barrett Jackson event on Jan. 18 to raise money for the Juvenile Diabetes Research Foundation. JDRF is the country's leading organization funding Type 1 diabetes research.

Alfa Romeo to dump front-drive hatches for rear-drive saloons

Alfa Romeo is set to drop the Mito and Giulietta hatchbacks around 2015, as it switches to solely rear-wheel drive models, CAR's Georg Kacher reveals today (Friday 19 July). The sensational news, which will be music to car enthusiasts' ears, is part of a radical, new plan involving closer collaboration between Alfa Romeo and Maserati. Starting in 2015, Alfa will roll out a BMW 3-series rival, followed by a 5-series rival in 2016.