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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.

Jaguar XK leaves the lineup

Production of the Jaguar XK stretched from 1996 with the XK8 and will wrap up as the final 50 limited edition XK models roll off the assembly line this summer. The farewell XKs will be branded as "Final Fifty Limited Edition" cars, and will carry the same specification as the current XKR model, along with some added features that celebrate the history of Jaguar and the evolution of the brand's grand touring coupes and convertibles. Under the hood, a supercharged 510-hp 5.0-liter V8 is capable of bringing the XK to 60 mph in 4.6 seconds according to Jag, and an active exhaust system helps ensure the engine note remains prominent.

Denise McCluggage remembers Carroll Shelby

I've told the stories before, but now, with the last of the lads on the seawall gone, I'll tell them again. The stories are about Carroll Shelby. The seawall was in a painting I bought in Modena, Italy, home of Ferrari, in the late 1950s.