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News watch July 2010: today's auto industry news

Welcome to CAR Magazine's news aggregator as we round up the daily stories in the auto industry. Top tip: news summaries are added from the top hour-by-hour Friday 30 July 2010• Renault has reported a net income of €823 million – with an operating margin of 4% and sales up 22% globally. Its worldwide market share now stands a whisker up at 3.8% (Renault)• La Regie said its business was performing much better than during the same period last year, when the recession bit into its profits.

Chrysler eight-speed gearbox to boost big sedans' fuel economy

Chrysler Group says its new eight-speed automatic transmission will be the first offered on domestically produced automobiles and will boost fuel economy and cut emissions of the company's two full-sized, rear-drive sedans. The transmission initially will be available on 2012 Chrysler 300s and Dodge Chargers powered by Chrysler's 292-hp Pentastar V6 engine, the automaker said Thursday in a statement. The cars are being assembled and will start arriving in dealerships by Oct.

BMW to offer rear-wheel drive X3 SUV

Most BMW X3s spend a negligible amount of time off road - apart from crunching across Middle England's gravel driveways - so BMW has seen fit to release a version that ditches the all-paw capacity and reverts to classic rear-wheel drive. While it's still going to be some way from a classic rear-drive Ultimate Driving Machine, the X3 sDrive18d is the cheapest and most economical way into X3 ownership. You'll be able to get your hands on one from £28,580 when it arrives in the UK in the autumn of 2012.