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News watch August 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 Friday 31 August 2012•European car sales continue to struggle, down 8.2% in July. Spain, europe's biggest market, saw sales frop the most, by a massive 26%.

Gumpert Insolvent

German supercar maker Gumpert has filed for insolvency after a foray in to China failed to realise the expected sales. We’re beginning to wonder if the only garden shed supercar makers actually able to make a go of things are British? Gumpert – German maker of extreme supercars – has instigated insolvency proceedings after its plan to make the newly wealthy Chinese fall in love with its bonkers cars floundered.

Monster Jam is totally rad

To our 6-year-old selves, monster trucks really were the biggest, baddest things on four wheels, mechanized, city-block-sized demon machines that ate sedans and belched fire. The reality is that the trucks aren't that big when you get right up next to them -- certainly not the Caterpillar 797-sized car-obliterators we imagined years ago. They're probably around 12 feet high at most; given current trends, they'll be eclipsed by heavy-duty pickups in a design cycle or two.