1966 Corvair Trunk Lock (latch) Nos P/n 4459542 on 2040-parts.com

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.

Land Rover adds warranty program on pre-owned vehicles

Land Rover has add a warranty program for certified pre-owned-vehicle buyers in North America. Beginning on Oct. 1, Land Rover Select CPO buyers get a six-year/100,000-mile warranty, 24-hour roadside assistance, a 150-point inspection and no deductible on their vehicles.

Volvo V40 gets new Drive-e D4 and T5 engines

The Volvo V40 (pictured) gets Volvo’s new Drive-e engines Last year Volvo revealed its new, efficient and flexible Drive-e engines and plans to offer them in the S60, V60 and XC60 with a 179bhp D4 and a 302bhp T6. Now, the new Volvo V40 is getting Drive-e powertrains. Both the V40 and the V40 Cross Country are getting Drive-e engine options, with both the D4 diersel and T5 petrol coming on-stream from May 2014.