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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.

Volvo XC60 R-design – more detail

Volvo has released more details of the XC60 R-Design Although the XC60 R-Design doesn’t get any sort of power boost, it does get some tweaks to the setup to provide a more sporty drive. Volvo has stiffened up the chassis and added more damping, and tweaked the steering ratios to give a quicker response.  But Volvo reckons this has virtually  no impact on ride quality (which begs the question ‘Why didn’t they do it to start with if there’s no trade-off’) and sensibly they have not gone down the lowered suspension route, so the XC60 still has good ground clearance. Volvo has added a rear seat entertainment package option to the XC60 On the cosmetic front, the R-Design gets body coloured lower section, matt silk metallic finish for the trim and chrome tailpipes.

Volvo details new Drive-E powertrains

Volvo released details of its new Drive-E family of powertrains on Friday. Vehicles with the extra-efficient engines will arrive at dealerships early next year. Drive-E is also Volvo's name for all of its green innovations, encompassing everything from a sustainable manufacturing process, use of recycled materials and low-emission powertrains.