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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.

Mazda reveals Mazda2 EV with range-extender Wankel rotary engine

Mazda reveals Mazda2 EV with range-extender Wankel rotary engine It’s long seemed logical that a compact Wankel rotary engine – running at a constant speed – would be a great way of fitting electric cars with a range-extender option. Audi flirted with the idea of fitting the A1 e-tron with a Wankel engine a couple of years ago, but that got shelved. And Mazda – keepers of the Wankel flame – came up with the idea of a Wankel engine bolted in to an EV and powered by hydrogen last year, but it seems to0 have gone nowhere.

Nissan TeRRA [w/Gallery]

Nissan has added another entry to the list of things see at the upcoming Paris motor show in the shape of its TeRRA SUV concept. The TeRRA is a seeming oxymoron as an electric SUV, mixing two of Nissan's strongest market segments into a vehicle that resembles a cross between a Leaf and a Patrol. "You have the big tires, high belt-line, thick pillars and thin side windows of the SUV vocabulary,” explains Shiro Nakamura, Nissan senior vice president and chief creative officer.