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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.

Merdad vision of the Range Rover Evoque – the Evoque Mer-Nazz

The Merdad Evoque Mer-Nazz We’re already starting to see the first efforts of the pimpers, tuners, modders and customisers on the new Range Rover Evoque surfacing, and the latest is the Merdad Evoque Mer-Nazz Regular readers with good memories will remember Merdad as the man unfortunate enough to be the UK arm of the Gemballa operation when everything went wrong for Uwe Gemballa. That meant the end of Gemballa in the UK, but Merdad has bounced back with his now eponymous company to create extreme cars for those with tastes for more unsubtle forms of car customisation. Merdad’s first effort was a very Gembala-esque two-door Cayenne, but he went British with a subsequent effort when he created the McLaren MP4-12C MehRon, which we took to be an homage to Ron Dennis.

BAC Mono: Fancy a Drive?

RS Academy grabs the first two BAC Monos Last month we reported on a new single-seat road car that offers more thrills than a garage full of hypercars for less than the cost of an M5 – the BAC Mono. The brothers Briggs - Briggs Automotive Company – have created the beautifully built, finished and specified Mono as the world’s only single-seat production car (well, the only one that’s actually made it in to production, anyway). Weighing no more than Kylie after a heavy diet, the Mono can scoot to 60mph in just 2.8 seconds before running out of steam somewhere around 170mph.