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News watch August 2012: 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 31 August 2012•European car sales continue to struggle, down 8.2% in July. Spain, europe's biggest market, saw sales frop the most, by a massive 26%.

Bellissima! Exotic Italian cars hit Brooklands

We were blessed with brilliant weather over the first May bank holiday weekend of 2014, and what better way to celebrate the onset of summer than with a celebration of stunning motor cars? That’s exactly what happened at the home of British motorsport, Brooklands, with thousands of Italian vehicle owners turning up to Auto Italia magazine’s Italian car day at the famous location. From Fiat 500s to Ferrari F50s, this gathering of iconic Italian metal had it all.

Confirmed: special Ferrari for 60th anniversary in USA

It’s been a busy week for Ferrari chairman Luca di Montezmolo. First he announced his resignation (effective from October) from the Italian sports car firm after 23 years at the helm. Then he proclaimed record financial results for Ferrari for the first six months of 2014 (£101.4 million profit) before declaring a special Ferrari model will be unveiled in October to celebrate 60 years of the Prancing Horse in America.