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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.

Return Of BRZ SE Reduces Entry-Level Price

SUBARU has expanded its BRZ sports car range with the re-introduction of the entry level SE model. Priced at £22,495, the addition of the SE model comes after the original price reduction of £2,500 for the SE Lux variant in the summer. Customers now have the choice of four BRZ models: SE manual £22,495 SE auto £23,995 SE Lux manual £23,995 SE Lux auto £25,495 SE specification is said to be generous, with keyless entry and push-button start, dual-zone climate control, cruise control, sports seats, limited slip differential and front, side, curtain and knee airbags all standard fit.

2014 European Car of the Year finalists revealed. Could the Mercedes S-Class win?

Could the 2014 Mercedes S-Class (pictured) win the Car of the Year? We’re at the end of 2013, so the time has arrived to take a look at the finalists for the 2014 European Car of the Year award. In the last few years, despite Europe producing some of the most impressive luxury and performance cars on the planet, the Car of the Year Award has gone to much more prosaic machinery.