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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.

Peter Schreyer introduces Kia's new Sportage

It's a sign of just how significant the new Sportage is for Kia that rather than flying UK journalists to an international launch location the company instead rented a boutique hotel in London's Notting Hill, created a sketch gallery in the basement and flew in key members of the car's development team to meet the press — who were then lent some the first new Sportage's in the UK to test for a month. One executive present at the event was Kia's Senior Executive Vice President and Chief Design Officer, Peter Schreyer. Car Design News was invited to meet with Peter to talk about his role at Kia and for him to talk us through a vehicle Kia is billing as the first to be designed entirely under his tenure.

Happy Fathers Day! Dads, kids and cars

Get them on the go as soon as you can; get them enthusiastic; but leave time for a cuddle. Today is Fathers Day. A day when the brood tell Dad how wonderful he is.