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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.

Ford Fiesta recalled for airbag problem

A side curtain airbag problem has prompted Ford to recall Fiesta subcompacts from the 2011-2013 model years. The recall covers vehicles built between Nov. 2, 2009, and Sept.

General Motors halts Hummer production until sale is completed

General Motors will stop production of Hummers at the end of this week as the automaker waits for Chinese regulators to approve the brand's sale to Sichuan Tengzhong Heavy Industrial Machinery Co. Output of Hummer H3 and H3T models at GM's Shreveport, La., plant will resume once the pending acquisition is completed, Hummer spokesman Nick Richards said. Richards declined to specify what issues remain to be approved by the Chinese government.