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News watch July 2012: today's auto industry news
Wed, 25 Jul 2012Welcome 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.
60 years of Unimog spawns off-roader concept
Tue, 07 Jun 2011Mercedes-Benz is paying tribute to 60 years of Unimog trucks with a mean, green off-roader concept that the company claims stands for future versatility in vehicle design. In a nod to the first Mercedes Unimog--built in 1951 and reinstated with the 2010 product range--the team of Mercedes and Daimler designers gave the 2011 design concept an open cab. They injected the U 5000's off-road capabilities into the equation as well, drawing on the truck's historic design strengths.
FCA issues warning on logbook loans
Fri, 06 Jun 2014VULNERABLE people who use their car as security to take out a loan are finding themselves squeezed even harder financially and even threatened, the City regulator has found. The Financial Conduct Authority warned it will put firms offering logbook loans out of action if they do not "dramatically" improve their standards, after finding evidence of poor behaviour including little or no affordability checks being carried out and some applicants being encouraged to manipulate details of their income. It said lenders are failing to properly spell out exactly how expensive such debts will be, with the true cost often masked by an emphasis on "low" weekly repayments and key terms and conditions buried in small print.