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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.

Concept Car of the Week: Audi Quattro Spyder

The Audi Quattro Spyder. It might not be as avantgarde as some concepts we've explored so far in this weekly series becasue this was a sports car designed with production in mind. It would have marked an entry into a market Audi was yet to explore during a time it was deperate to break free of its dowdy, mainstream image.

Volkswagen creates driving style-linked music app

VOLKSWAGEN has created a new smartphone that improvises its own music based on how the car is being driven. Working with British electronic musicians Underworld, Volkswagen has built the experimental ‘Play the Road’ app to help celebrate the launch of the seventh generation Golf GTI. It works by connecting to the car and using its own in-built accelerometer to analyse speed, engine revs, steering, throttle and braking inputs and the urgency of each to create a unique, ever-changing music that ranges from serene background chillout vibes to fast-paced electronica.