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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.

Used cars set for soft landing

THE USED CAR MARKET is set to see a gentle slow down towards the end of the year, avoiding the price crash feared by some in the industry. Experts at CAP Automotive say there are no shocks on the horizon as used car prices are not reducing as quickly as previously expected. This is due to high demand for quality used cars and limited supply.

Children more distracting than cell phones, study finds

Parents of small children will not be surprised by findings released recently by Australian researchers stating children pose a greater distraction to drivers than talking on cell phones -- a 12 percent greater distraction, to be exact. With all the screaming and crying infants bring to the commute and the fighting and other factors older siblings contribute, we wonder why nobody has pointed a finger at our precious angels sooner. Perhaps because there is little we can do to control when or where our kids decide to dissolve into fits of rage or sorrow.