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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.

Bentley teases Arnage successor

Bentley is giving a glimpse of its future this morning with a teaser shot of the Arnage successor due out in 2011. Look for a public debut this summer, possibly in concept form at the Pebble Beach concours, where the British luxury maker is one of the featured companies as it marks its 90th anniversary. Details are scarce, though the teaser shows a lengthy hood, a prominent grille and big fenders--hallmarks of the Bentley line.

BMW i8 heading up the Goodwood Hillcimb in June

The BMW i8 is heading up the Goodwood Hillclimb The Honda NSX won’t be the only green supercar heading up the hillcimb at the Goodwood Festival of Speed in June – the new BMW i8 hybrid supercar will be too. BMW has announced that the i8 will be seen in action in the UK for the first time at the end of June when it too takes on the 1.16 mile Goodwood Hillcimb during the 2014 Festival of Speed. It’ll be the first time we get to see just how capable the i8 is, and even with a paltry 1.5 litre 3-cylinder engine it promises impressive performance as that little 3-pot churns out 228bhp oin its own and 356bhp when its electric motor joins in.