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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.

Renault/Lovegrove Studio Twin'Z concept

The Renault Twin'Z concept is a collaborative project with British designer Ross Lovegrove, filling the fifth stage in Laurens van den Acker's 'lifecycle' – Play. It's currently on display at the Milan Salone. Essentially previewing the all-new, rear-engined Twingo co-developed with Daimler, the Twin'Z takes this relatively humble city car and, thanks to the input of Lovegrove, it appears to have taken on an organic nature, which shouldn't be unexpected to those familiar with his work.

Lexus CT 200h: The emissions

Teh Lexus CT 200h has emissions of just 96g/km We have to go with the flow on this because, although we have no faith in the assertion that man is responsible for climate change, for as long as Governments penalise and promote cars based on the emissions of CO2 from their tailpipe (I know, it’s barking) we have to accept that car makers will respond to that stick and carrot. Which is why we see a raft of car makers churning out ‘Eco’ cars with a 99g/km emissions figure, as sub-100g/km of CO2 emissions is the Holy Grail for maximising tax effiecencies. Of course, Lexus has gone a step further and seem intent on producing only hybrid cars as soon as possible.