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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.

Lexus LF-Lc concept car (2012) is leaked early

A concept depicting what a future Lexus SC could look like has leaked early. The new Lexus LF-Lc will be shown at the 2012 Detroit auto show in January. Road & Track magazine in the US is being blamed for the leak, which has provided this low-res image of the LF-Lc.

Vauxhall's 200bhp Corsa leads VXR onslaught

By Angus Fitton Motor Industry 23 August 2006 09:50 Vauxhall is in the final stages of signing off the storming Corsa VXR. The latest VXR runs a turbocharged 1.6-litre developing a thumping 200bhp, spinning the front wheels via a six-speed box. Much of the development work has been carried out at the Nurburgring, which the Corsa has been relentlessly lapping to fine tune the suspension and engine mapping.