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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.

Missing oil changes is false economy

TRYING TO SAVE money on motoring costs by not changing a car’s oil is risking a false economy as it could lead to more wear and fuel consumption, according to Two-thirds (65%) of British drivers admitted they have not changed the oil in their car in the last 12 months, with the same number admitting they buy oil for their car based solely on price. The same study by Mobil 1 also showed only 45% of drivers knew when their car’s scheduled service intervals were, while 15% said they would cut back on servicing to save money. Dan McGoldrick, of Mobil 1, said: ‘Choosing the right oil for your car is vital as it means both the lubricant and the engine will last longer, so you’re saving in the long term.’ Tim Shallcross, Head of Technical Policy at the Institute of Advanced Motorists, added: ‘Apart from lubricating the engine, oil has the important job of absorbing harmful by-products given off by the burning fuel.

Audi starts Facebook petition for the TT RS

Audi of America is doing what it can to convince its German bosses to send the TT RS our way. A petition on the automaker's Facebook page says that “Audi is seriously rethinking its original plans for the range-topping TT model and wants to hear from you.” As of Monday morning, the petition had gathered 3,742 signatures. Currently, the TT line in the United States includes only the TT and the TTS.