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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.

BMW 5-series Gran Turismo at 2009 Frankfurt motor show

By Tim Pollard First Official Pictures 22 May 2009 13:53 At last, we can present the strangest new BMW for some time (and there have been a few): the new 5-series Gran Turismo, or GT for short. Motoring journos sometimes overuse the word ‘radical’, but the new BMW 5-series GT is one of the few new arrivals that is genuinely segment busting. In fact, when uploading this story we had to tag the article page on our website.

Hyundai and Rhys Millen extend deal for 2012

Hyundai Motor America and Rhys Millen will continue their partnership into the 2012 Global RallyCross season that starts on May 26 in Charlotte, N.C. He'll return to drive the hopped-up Veloster hatchback in all seven races, including two at ESPN's Summer X Games. “I'm thrilled to represent Hyundai and the Veloster in the GRC series for a second season,” Millen said.