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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.

Chevy Volt, other key GM vehicles remain on track, new product boss says

The Chevrolet Volt remains on track to hit the market in late 2010--and General Motors is still going to invest in developing key products--despite its financial troubles, a top executive said Thursday. The Volt and other new GM vehicles, such as the Cadillac SRX, the Buick LaCrosse and the Chevy Equinox, remain top priorities--even though the company lost $6 billion in the first quarter of this year and is surviving on government loans. "Great cars and trucks are the only thing.

Mercedes Concept Style Coupe (2012) - aka CLA

Mercedes will show the Concept Style Coupe at the 2012 Beijing motor show next week. It's a thinly veiled look at a compact coupe spun off the Merc A-class architecture - likely to wear the CLA badge. In essence this is our first look at the shrunken, baby CLS Daimler plans to launch in 2013 - and the CLA production version will be priced around £20,000.