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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.

Mercedes SLS AMG leaked ahead of Frankfurt

The first official images of the Mercedes SLS AMG Gullwing have leaked out ahead of Frankfurt We’ve been teased and tormented by the long, drawn-out tease for the Mercedes SLS AMG - the in-house replacement for the mighty Mercedes McLaren SLR. We’ve had what I thing is a first – an SLS Official Spy Video – and endless bits and pieces on the Gullwing. But now – ahead of the official launch of the SLS next week at Frankfurt – the damn has burts and the first official images have leaked out Mercedes.

2011 / 2012 Saab 9-5 SportCombi spied undisguised

Saab 9-5 SportCombi spotted near Trollhattan From a flurry of activity when Spyker finally got hold of Saab from GM nearly a year ago, news from Trollhattan has not been exactly flowing out in an endless stream. And good news hasn’t really been the keynote for the first year of Spyker’s ownership of Sweden’s second favourite car maker. The new Saab 9-5 – although well received in terms of design and equipment – was a bit of a let-down in terms of dynamics and comfort.