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Crunch watch July 09: the auto industry in crisis

By Tim Pollard, Ben Pulman, Ben Whitworth and Alex Michaelides Motor Industry 31 July 2009 11:23 Welcome to CAR's news aggregator as we round up the seismic change in the auto industry. Top tip: news summaries are added from the top hour-by-hour  Friday 31 July 2009• Lamborghini today posted pre-tax profits of €5.4 million – despite a sales drop of 37% in the first six months of 2009. Sant'Agata said turnover hit €156.9m in the first half (down 43%) as it sold 825 cars globally (Lamborghini)• British motorists could have to pay £250 in tax to park at work from 2012.

Higher gas prices? Blame ethanol

MarketWatch reported today that the price of ethanol has seen a 30-percent price increase so far this year, taking the price of gasoline up with it, since a good majority of "gasoline" sold today is around 10 percent ethanol. The average price of a gallon of gas today is $2.30, according to FactSet data, but this has varied since the beginning of 2014. Despite the recent surge, ethanol prices have also proved to be rather volatile with reports of it dropping 8 percent this past Thursday after falling 10 percent just the day before.

Fiat Bravo MSN launched

The Fiat Bravo MSN has been launched to coincide with the Bravo Tour Charity Event Which all brings to mind that famous quote by Bill Gates – “If GM had kept up with technology like the computer industry has, we would all be driving $25 cars that got 1000 MPG” Which in turn brought a response from GM, which took exception to Bill’s statement, and issued a press release countering his assertion, which is worth the read in full: If GM had kept up with technology like the Computer Industry has, then: 1. For no reason whatsoever, your car would crash……..Twice a day. 2.