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New BMW M5 & M6 Competition Package & new 518d prices revealed

The competition package for the new M5 & M6 costs from £5,500 The arrival of the newly refreshed BMW 5 Series saw the arrival of a new entry-level point – the 518d – and the option at the other end of the scale of a Competition Package for both the M5 and M6 (in all three varieties). Now, BMW has decided how much they are going to cost you. The Competition Package for the M5 and M6 comes in a bit steeper than we’d expected (we reckoned it would cost around £5k), with the cheapest option being on the M6 Gran Coupe £5,500) and the most expensive on the M5 saloon (£6,700).

Was the Corvette museum collapse a hoax?

When you saw video footage of eight Corvettes falling through the floor of the National Corvette Museum in Bowling Green, Ky. , did you think it looked a little …off? When you saw the photos in the New York Times, did you start to suspect that perhaps the Illuminati had something to do with it?

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.