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News watch July 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 Tuesday 31 July 2012•Porsche SE recorded a first half profit of €1.15bn, in comparison with €149m for the same period in 2011. The enormous jump has come not from directly selling cars, but from the group's investments in Porsche Zwischenholding GmbH and Volkswagen AG (Porsche SE)•Reuters suggests Germany's car market is in recession, but few outside the industry would know it, thanks to a controversial sales practice that inflates official statistics and paints a flattering picture of demand.

Silverstone unveils new F1 Circuit

The new Silverstone F1 Circuit was revealed this week Bernie will be pleased It’s been a bit of a saga for Silverstone and the BRDC of late, with a backwards and forwards ‘will-they, won’t-they’ get to host the British Grand Prix going forward. Bernie Ecclestone finally announced that Silverstone would host the 2010 British Grand Prix back in December  - although it could be argued only by default after Donnington went belly-up – and the circuit upgrades are nicely in time for the 2010 British Grand Prix in July. Prince Andrew did the official opening on Thursday and got the chance to lap the track in a 2-seater F1 car with Damon Hill at the wheel and former F1 driver – and now BBC pundit – David Coulthard also on track in a Red Bull.

Lotus Exige S Roadster at 2012 Geneva motor show

Here’s the new Lotus Exige S Roadster, unveiled on the eve of the 2012 Geneva motor show. With a sub-four second sprint to the 60mph mark, it’s Hethel’s quickest soft top ever; we've already seen the Lotus Exige S in coupe guise, but this is the open-top Roadster variant. A hefty 3.5-litre V6 engine lies behind the cockpit which, says Lotus, has received the benefits of its racing technology.