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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.

First Sight: Infiniti Emerg-e

It's a month before the Geneva motor show and amongst the usual pre Motor Show commotion I receive a string of cryptic emails about an Infiniti electric sports car concept. The name Emerg-e is only revealed as I drive to the secret preview at Park Royal Studios in West London to meet the big three in design – global design director Shiro Nakamura, Francois Bancon of advanced design and head of Nissan Design Europe Victor Nacif. This is clearly a critical car for Infiniti.

Audi A1 Sportback (2012) first official pictures

Audi is expanding the A1 range with the long-anticipated five-door, the new A1 Sportback. The five-door A1 arrives in showrooms in spring 2012. You won't mistake it -although it's the same length as the three-door A1, at 3950mm, it's 6mm taller and wider to pack in more space for heads and doors.