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Volvo slashes model range – V50 out first

The Volvo V50 – dropped in the US That got your attention, didn’t it? Volvo slashing their model range. What’s going on?

Lexus IS (2013) first official pictures

These are the first official pictures of the all-new 2013 Lexus IS. Challenging the likes of the BMW 3-series, Mercedes C-class and Audi A4, the new IS has gone under the knife and the new iteration has a more athletic and vigorous-looking design, judging by these photos.   Sporting an updated, pleasingly chiselled front end, the new IS takes inspiration from the LF-CC concept shown at 2012’s Paris motor show. The new IS features the new 'spindle' front grille which adorns all new Lexus models, decorated with a new headlamp cluster design and the trademark L-shaped daytime running lights set independently below.

News watch October 2012: today's 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-hou Wednesday 31 October 2012• It's emerged GM's European 2012 earnings are down nearly half a billion dollars in Europe, where it now expects to lose $1.5bn to $1.8bn before interest and taxes for the full year (DetNews)• Ford has posted a third-quarter net profit of $1.63bn (£101bn) - almost matching its eventual profit total for the entire year 2011. Despite painful losses in Europe (Ford expects to lose $1bn in Europe alone this year) a resurgent North American market has buoyed Fords sales even higher than previous forecasts (Automotive News Europe)• Fiat CEO Sergio Marchionne has weighed in against Republican presedential nominee Mitt Romney, who argued that a move towards Chinese production would harm American jobs.