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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.

British motor show axed for good?

The British motor show will not go ahead in 2012, the organisers confirmed today. The Society of Motor Manufacturers and Traders dashed hopes that the UK expo could return after the recession put stop to 2010's event - effectively ending over a century of UK motor shows. 'The British International Motor Show has been a tremendously successful showcase for the UK motor industry,' said SMMT chief exec Paul Everitt.

Police BMW crashes into £200k Ferrari on London street

Surely the whole point of owning a bright yellow Ferrari 458 Spider supercar is to get yourself noticed. Well, it didn’t work in this instance. The owner of this £200,000, 198mph roadster will be on the receiving end of a substantial repair bill courtesy of Her Majesty’s Metropolitan police.