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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.

Lamborghini SUV (MLC) revealed in New York

Lamborghini SUV: The Lamborghini MLC revealed in New York Lamborghini’s SUV – which we expect to be the Lamborghini MLC – has been revealed to a select audience at the New York Motor Show. The Lamborghini SUV  is already confirmed for a reveal at the Beijing Motor Show later this month. But that hasn’t stopped Lamborghini from revealing their SUV at the New York Auto Show, albeit to just a handful of select guests.

'Ambulance chasers' face new controls

THE CULTURE of "ambulance-chasing" lawyers and bogus whiplash claims could come to an end following new measures set out by the Government to crack down on insurance fraud. Lawyers will be banned from offering accident victims incentives such as money or free iPad computers to encourage them to make a claim and courts will be given powers to throw out compensation actions where claimants have been dishonest. The reforms by the Ministry of Justice (MoJ) aim to tackle the rise of the compensation culture and reduce the amount being paid out unnecessarily by insurance companies - which can lead to higher premiums for honest customers.