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News watch July 2010: 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 Friday 30 July 2010• Renault has reported a net income of €823 million – with an operating margin of 4% and sales up 22% globally. Its worldwide market share now stands a whisker up at 3.8% (Renault)• La Regie said its business was performing much better than during the same period last year, when the recession bit into its profits.

Mercedes A45 AMG (2013) first pictures of new hot hatch

This is the Mercedes A45 AMG: the first time Merc’s in-house tuning arm has tried its hand at building a hot hatch. Packing 355bhp, all-wheel drive and a seven-speed dual-clutch paddleshift transmission, the A45 AMG will outpace a Porsche 911, but cost less than £40,000. It’s on UK sale from July 2013, but if you can’t wait that long, Merc’s baby barnstormer is appearing at the Geneva motor show from 5 March 2013.

Jaguar X-Type axed early

Jaguar is ending production of the Jaguar X-Type at the end of the year The X-Type recipe was a Ford inspired one. Take the basics of the Ford Mondeo – a much better car than it’s given credit for – and Jaguar-ify it to produce a smaller car to fit in to the Audi A4 / BMW 3 Series / Mercedes C-Class category. But it got saddled with the looks of the old Jaguar XJ (i.e.