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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.

In its first year, Indy 500 'glamping' shows potential

For the first time, the Indianapolis Motor Speedway offered “glamorous camping” or “glamping,” on the track's infield during the Indy 500. Across a small lake from the Brickyard Crossing Golf Course's eight hole, IMS settled “Glamptown,” a village of 70 10-foot x 15-foot canvas tents. The tents were available with the choice of a comfortable queen bed, double beds, or two to four military-style cots.

Rolls-Royce Wraith (2013) second teaser of 600bhp coupe

This is part three of Rolls-Royce’s pre-Geneva motor show tease of its new Wraith coupe. We’ve already seen a ghostly interpretation of the Spirit of Ecstasy figurine, and a side profile shot that revealed a resemblance to a ’68 Mustang Fastback, and now Rolls has shown the rear of the Wraith, and made a few proud proclamations about just how powerful its new super-coupe will be. I can’t see much of the new Rolls-Royce Wraith… Unfortunately it’s another shadowy teaser from Rolls-Royce, in the same vein as the side profile silhouette.