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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.

Japan hopes to make EV recharging technology the global standard

Japan's automakers aim to cement their lead in electric vehicles by making Japanese recharging technology the global standard and bringing it to the United States. A coalition of manufacturers, including Nissan and Toyota, is teaming with Japan's biggest electric company and the government to make it happen. They aim to corner the market on one of the technologies that will be key to the eventual acceptance of electric-powered cars: the high-speed charging points that will act like gasoline stations of the future and enable drivers to recharge and keep driving after their batteries run low.

Ford kills Mercury – boosts Lincoln

The Linclon Concept C - Lincoln's first C-Segment car? In what is probably the least surpring move by Ford the Mercury moniker has been consigned to the history books as Ford continues to rebuild not just its balance book but its brand. Having finally divested itself of its troublesome posh-badge crew of Jaguar, Land Rover, Aston Martin and Volvo, the only surprise is that the Mecury brand lasted this long.