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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.

Frankfurt Motor Show 2007 Trends and Overview

The Frankfurt Motor Show is home to the European moguls of the automotive industry. BMW, Mercedes-Benz, Porsche, the Volkswagen Group, GM Europe and much of Ford Europe all have their head offices within a few hours drive of the Frankfurt Messe, so it's only right that these automakers would bask in the limelight. But instead of competing for bragging rights for the most powerful cars in the range, this year's motor show afforded automakers an opportunity to showcase their environmental credentials and their latest 'innovative' powertrain technologies.

Buick to scrap trim levels

Buick will eliminate its “CX,” “CXL” and “CXS” trim levels in the 2012 model year, opting for a few “stair-step” packages instead, one of the brand's top marketers said today. “It isn't befitting a premium brand. No other premium brand has those designations,” said Craig Bierley, Buick-GMC director of advertising and sales promotion.