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Crunch watch July 09: the auto industry in crisis

By Tim Pollard, Ben Pulman, Ben Whitworth and Alex Michaelides Motor Industry 31 July 2009 11:23 Welcome to CAR's news aggregator as we round up the seismic change in the auto industry. Top tip: news summaries are added from the top hour-by-hour  Friday 31 July 2009• Lamborghini today posted pre-tax profits of €5.4 million – despite a sales drop of 37% in the first six months of 2009. Sant'Agata said turnover hit €156.9m in the first half (down 43%) as it sold 825 cars globally (Lamborghini)• British motorists could have to pay £250 in tax to park at work from 2012.

One-off 1990 Corvette ZR-1 Spyder saved from sinkhole; video shows extraction

You'll have to excuse the National Corvette Museum's timing -- museum staff are excited to report that a one-off 1990 Corvette ZR-1 Spyder has just been pulled from the sinkhole that opened up beneath the show floor in February, and they want you to know that this isn't some sort of cruel April 1 hoax. Don't believe us? Just watch the video below There hasn't been much headline-making news out of the Corvette museum since the 1 millionth Corvette built was saved from the sarlacc pit in early March, bringing the number of cars returned to ground level to five.

Ferrari posts record sales despite economic uncertainty

Global economic waters are far from calm, but Ferrari has managed to steer clear of the turmoil. The Italian automaker has released sales figures for the first six months of 2012, and they’re impressive by any measure. Revenues for the first half of the year are up nearly 12 percent, and net profits have risen 10 percent to over $130 million.