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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.

Tag Heuer, McLaren team up for watch

What to get the McLaren lover who has everything? Perhaps a watch. But not just any timepiece--a Tag Heuer designed to channel the MP4-12C supercar.

Honda plans rapid-fire launch of 2012 Civics

Honda will take a hurry-up approach when launching its delayed Civic family in April. Unlike past Civic rollouts--which spread the debuts of model types and variations over months and even years--Honda will launch every variety of the 2012 Civic within weeks of each other, said John Mendel, executive vice president of sales for American Honda. The family includes a sedan and coupe, multiple engines, lithium ion hybrid and natural gas versions, and a Civic Si edition.