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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.

VW Beetle Turbo, Jetta GLI get power increase

Volkswagen's 2.0-liter turbocharged four-cylinder engine is getting a 10-hp boost; the engine is now rated at 210 hp while torque remains unchanged at 207 lb-ft. The engine will be available on the Volkswagen Beetle Turbo coupe and convertible and the Jetta GLI sport sedan. VW claims the new engine shaves 0.2 seconds off the Beetle Turbo's 0-60 mph time, which is now estimated at 6.6 seconds.

Government Highlights 'Snowball Effect' Of Drink-Driving

MILLIONS of people could lose their jobs if they were unable to drive to, or at, work through being caught drinking and driving. That’s the message behind a new Government drink-driving campaign in advance of the festive season. Keen to highlight the "snowball effect" of getting a drink-drive conviction, the campaign is hoping to register with individuals who need to be mobile for their profession, such as professional driving jobs, teachers, care workers and jobs in banks and finance.