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News watch April 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-hourMonday 30 April 2012• Kia posted global first quarter 2012 profits up 26%, with sales up 12% worldwide. 635000 new Kias found homes, 79000 in Europe (up 24.6% on 2011 in a total market which contracted 7.1%), with the USA now Kia's largest market ahead of Korea.

Porsche rejects BlueSport Concept

Porsche has rejected the BlueSport concept as a new entry-level Porsche The VW BlueSport concept debuted at the Detroit Motor Show in January, and offered the prospect of an economical, fun roadster from the VW group. But at the time VW made it clear that the car would have to work across three of its brands to be viable. VW are obviously up for the project, and Audi look likely to go along with BlueSport with the planned E2 Roadster.

Jaguar-Land Rover officially sold (2008)

By Ben Pulman Motor Industry 02 June 2008 15:37 Jaguar and Land Rover are now officially Indian-owned. The sale of the two iconic British brands was completed today, and ownership has now passed from Ford to Tata in exchange for $2.3bn in cash (£1.17bn). The sale means Jag/LR is debt-free, with none of the money used to fund the purchase being offset against the pair’s worth.