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News watch July 2011: 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: car news summaries are added from the top hour-by-hour Friday 29 July• The BBC and Sky have a agreed a TV deal for F1, which will see the Beeb only broadcast half of all Grand Prix races from the 2012 season (BBC) • Aston Martin Racing will revert to its older, V12-powered DBR1-2 LMP1 racer for the remainder of the Intercontinental Le Mans Cup (ILMC) while the new straight six-powered AMR-One 'continues to undergo review' (Aston Martin Racing)• Dr Heinz-Jakob Neußer is to take charge of drivetrain development at VW from Volkswagen 1 October 1 2011. His predecessor Dr Jens Hadler is leaving at his own request, and Dr Rüdiger Szengel is to become deputy head of VW's drivetrain development and retain his role as head of petrol engine development (Volkswagen) Thursday 28 July• Porsche today dug the first soil at its €150m extension of the Weissach R&D base.

Couple to display four cars, receive new honor at Hilton Head concours

The 2012 Hilton Head Island Motoring Festival & Concours d'Elegance will include major international names in automotive collecting and racing when the event returns for its 11th-annual celebration Oct. 26-Nov. 4.

New compact Lexus SUV based on Toyota RAV4 on the way

Lexus are planning a compact SUV to slot in below the RX, and based on the Toyota RAV4, to compete in the compact SUV market. Which explains why Lexus are looking for a model to slot in below the hybrid RX (pictured above) – a full size SUV/Crossover – to keep them competitive. And what easier way to go than to take the new Toyota RAV4 and turn it in to a Lexus?