Auto News 5

General Motors has built the first Cadillac ATS sedans for public sale at the Lansing Grand River assembly plant in Michigan.

Kia reported second-quarter profit that missed analysts' estimates after the company increased marketing costs for new vehicles. Net income fell 2.8 percent to 1.1 trillion won ($965 million), compared with a revised 1.13 trillion won a year earlier.

Porsche said first-half profit jumped 21 percent on demand for the new-generation 911. Operating profit rose to 1.26 billion euros from 1.05 billion euros a year earlier. Porsche posted a profit margin of 18.

Porsche said first-half profit jumped 21 percent on demand for the new-generation 911. Operating profit rose to 1.26 billion euros from 1.05 billion euros a year earlier. Porsche posted a profit margin of 18.

South Korea's largest auto components supplier, Hyundai Mobis, has been hit with KRW2.95bn (US$2.57m) in fines and corrective orders for demanding lower prices from its subcontractors.

Electronics group LG Corp may produce electric vehicle batteries for Renault in France.

China's Ministry of Industry and Information Technology (MIIT) is to establish a mechanism to strengthen the country's auto industry and put an end to the present permanent qualification of motor vehicle manufacturing enterprises.

Renault is welcoming this week's announcement by the French government of its automotive support plan designed in part, to offset the impact of PSA Peugeot Citroen's massive job cuts proposals.

Renault's first-half operating profit fell compared with a year ago but analysts said the automaker's performance was good given plummeting demand in Europe.

General Motors has green-lighted the development of a large flagship sedan for

Pirelli has posted half year net profit up 39.6% to EUR222m (US$273m), while revenues increased 8.3% to EUR3.02bn.

Renault has reported first half net income plunging to EUR786m (US$966m) from EUR1.3bn last year.

Michelin said first-half net profit rose 37 percent as price increases helped to offset the slump in Europe's auto market. The tiremaker confirmed that it expects a full-year rise in operating income.

Kia reported lower second-quarter profits after the company increased marketing costs for new vehicles. Net income fell 2.8 percent to 1.1 trillion won ($960 million), compared with a revised 1.13 trillion won a year earlier.

BMW will sell cars over the Web for the first time as the world's largest maker of luxury vehicles seeks an inexpensive way to reach more buyers to recoup spending on its electric models.

Honda has a few tricks up its sleeve for the third-generation Fit/Jazz due to launch next year.

VW threatened to leave European auto industry group ACEA in response to comments by Fiat CEO Sergio Marchionne about VW's pricing strategy. The threat highlights rising tensions in the industry as sales slump.

The Volkswagen brand's U.S. product planner wants a more Americanized lineup. His wish list calls for a small, locally built SUV, more diesels and possibly a return of the Phaeton.

BorgWarner and Dana lowered their forecasts for annual sales and profit because of the economic slowdown in Europe and other markets.

Lewis Hamilton (McLaren) sets the fastest lap of the two Friday free practice sessions, at the Hungaroring

On a dry track, the two McLaren set the pace and took the lead by mid-morning session. Even Fernando Alonso (Ferrari) approaching in the third place, Lewis Hamilton and Jenson Button finished on top the first session.

Among the Friday drivers, Valtteri Bottas sets the ninth place with the Williams FW34.

Lewis Hamilton, McLaren. (Photo: McLaren)

The track was improving in the second session and the lap times get down until the rain arrives at 40 minutes to go. In order to collect some valuable data, several drivers were back on track after the shower. Some in intermediate tires, some others on slicks, but the timesheet will remain unchanged. Lewis Hamilton (McLaren) was the fastest again, ahead of Kimi Raikkonen (Lotus) and Bruno Senna (Williams).

Kimi Raikkonen out on a dry track in the 2nd session. (Photo: Lotus F1)

Hungarian Grand Prix - Hungaroring
Friday, July 27 2012

Results of the first free practice session*:
1 - Lewis Hamilton (McLaren MP4/27-Mercedes) - 1'22"821 - 30 laps
2 - Jenson Button (McLaren MP4/27-Mercedes) - 1'22"922 - 24
3 - Fernando Alonso (Ferrari F2012) - 1'23"397 - 24
4 - Nico Rosberg (Mercedes MGP W03) - 1'23"628 - 29
5 - Romain Grosjean (Lotus E20-Renault) - 1'23"633 - 24
6 - Michael Schumacher (Mercedes MGP W03) - 1'23"845 - 26
7 - Felipe Massa (Ferrari F2012) - 1'23"904 - 25
8 - Kimi Raikkonen (Lotus E20-Renault) - 1'23"983 - 24
9 - Valtteri Bottas (Williams FW34-Renault) - 1'24"152 - 24
10 - Sergio Perez (Sauber C31-Ferrari) - 1'24"268 - 27
11 - Pastor Maldonado (Williams FW34-Renault) - 1'24"300 - 23
12 - Kamui Kobayashi (Sauber C31-Ferrari) - 1'24"394 - 19
13 - Mark Webber (Red Bull RB8-Renault) - 1'24"546 - 24
14 - Paul di Resta (Force India VJM05-Mercedes) - 1'24"559 - 22
15 - Sebastian Vettel (Red Bull RB8-Renault) - 1'24"608 - 25
16 - Daniel Ricciardo (Toro Rosso STR7-Ferrari) - 1'25"354 - 25
17 - Jean-Eric Vergne (Toro Rosso STR7-Ferrari) - 1'25"559 - 27
18 - Jules Bianchi (Force India VJM05-Mercedes) - 1'25"715 - 26
19 - Vitaly Petrov (Caterham CT01-Renault) - 1'26"440 - 27
20 - Charles Pic (Marussia MR01-Cosworth) - 1'26"705 - 23
21 - Heikki Kovalainen (Caterham CT01-Renault) - 1'26"755 - 26
22 - Timo Glock (Marussia MR01-Cosworth) - 1'27"015 - 24
23 - Pedro de la Rosa (HRT F112-Cosworth) - 1'27"101 - 21
24 - Dani Clos (HRT F112-Cosworth) - 1'28"176 - 24

Results of the second free practice session*:
1 - Lewis Hamilton (McLaren MP4/27-Mercedes) - 1'21"995 - 20 laps
2 - Kimi Raikkonen (Lotus E20-Renault) - 1'22"180 - 20
3 - Bruno Senna (Williams FW34-Renault) - 1'22"253 - 33
4 - Felipe Massa (Ferrari F2012) - 1'22"417 - 28
5 - Fernando Alonso (Ferrari F2012) - 1'22"582 - 22
6 - Jenson Button (McLaren MP4/27-Mercedes) - 1'22"747 - 17
7 - Paul di Resta (Force India VJM05-Mercedes) - 1'22"794 - 23
8 - Sebastian Vettel (Red Bull RB8-Renault) - 1'22"824 - 18
9 - Romain Grosjean (Lotus E20-Renault) - 1'22"922 - 12
10 - Michael Schumacher (Mercedes MGP W03) - 1'23"160 - 19
11 - Nico Rosberg (Mercedes MGP W03) - 1'23"164 - 28
12 - Pastor Maldonado (Williams FW34-Renault) - 1'23"337 - 26
13 - Nico Hulkenberg (Force India VJM05-Mercedes) - 1'23"713 - 25
14 - Mark Webber (Red Bull RB8-Renault) - 1'23"814 - 17
15 - Kamui Kobayashi (Sauber C31-Ferrari) - 1'24"328 - 23
16 - Jean-Eric Vergne (Toro Rosso STR7-Ferrari) - 1'24"345 - 27
17 - Daniel Ricciardo (Toro Rosso STR7-Ferrari) - 1'24"623 - 22
18 - Sergio Perez (Sauber C31-Ferrari) - 1'24"623 - 22
19 - Vitaly Petrov (Caterham CT01-Renault) - 1'24"823 - 28
20 - Heikki Kovalainen (Caterham CT01-Renault) - 1'25"220 - 28
21 - Timo Glock (Marussia MR01-Cosworth) - 1'27"104 - 27
22 - Pedro de la Rosa (HRT F112-Cosworth) - 1'27"106 - 18
23 - Charles Pic (Marussia MR01-Cosworth) - 1'27"185 - 22
24 - Narain Karthikeyan (HRT F112-Cosworth) - 1'27"822 - 20

* Un-official results