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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.

Ford resurrects Vignale name in an attempt to add premiumness to mainstream models

Ford is resurrecting the name of renowned Italian design house Vignale in an attempt to bring its mainstream models up market in Europe. Of course this isn't Ford's first experience of using a defunct carrozzeria for its range-topping models – remember Ghia? The first of these new models will be the Mondeo, which will appear with Vignale badging, lashings of chrome and quilted leather in Frankfurt next week.

Tesla Model S finally revealed

The Tesla Model S, a full sized Electric Saloon car, unveiled in California The Tesla Model S is a full size saloon which, at the projected price of $50,000 (including a federal tax break), should make a significant impact on the market. I say projected simply because the car will not be ready for sale until 2011, so there is plenty of time for ‘adjustments’. We’ll see.