Carlson 15249 Front Caliper Kit on 2040-parts.com

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.

Volkswagen give the VW XL1 Ducati power

Volkswagen give the VW XL1 Ducati power It’s more than two years since Volkswagen rolled out the VW XL1 Super Efficient Vehicle as a demonstration of how light weight and low power can make for extremely economical motoring. But the silly mpg VW quoted for the XL1 – 313mpg – comes at a fairly horrible price, with the news at Geneva this year that the XL1 is heading for limited production, but with a price tag likely to be around £100k. Bit it seems that VW has found a new use for the XL1, and this time it’s not about extreme economy but more about real performance.

Toyota FT-86 II (2011) first official picture

Toyota will show a second-gen FT-86 II at the 2011 Geneva motor show. It's unusual to 'facelift' a concept car, but Toyota has form with the much-revised Lexus LF-A concept car which donned more clothes than a model sashaying down the catwalk during its long gestation. The FT-86 II is essentially be a much closer to production look at Toyota's new sports car.