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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 Golf R 400 (2014) first picture

By Damion Smy First Official Pictures 16 April 2014 23:01 VW just has to make this car! The VW Golf R 400 is the most ballistic, angry VW Golf that the factory has ever built – as quick as the VW Vision GTI Concept but based on the current Golf R, so it seems tantalisingly viable for production. With a ridiculous 3.9sec 0-62mph claim, the ‘400’, named after its Porsche 911 Carrera S-matching 400PS (395bhp), will rocket into the Beijing motor show to say ‘Cop this, A45 AMG’.

Ferrari posts huge profits - by building fewer cars

AP Ferrari today announced an 8% jump in trading profits to €363.5 million in 2013 - despite selling 5% fewer cars. It's all part of the supercar maker's planned reduction in supply to keep values and demand for Ferraris rock-solid, Maranello reported. Turnover and profit all surpassed previous records, despite the reduction in the number of cars built.