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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.

Consumer Reports gets top vehicle picks mostly right

Despite the publication's uncomfortably broad definition of reliability -- it spans everything from "the engine fell out" to "the touchscreen display shows fingerprints too easily" -- automakers still clamor to get on the Consumer Reports recommended vehicle list. This year's winners cover a broad spectrum of vehicles, and for the most part, we're in agreement with the magazine's editors, with one significant exception at the top of the list. Best overall vehicle went to the Tesla Model S.

Consumer Electronics Show: News and Notes

Here are some more things we saw at the Consumer Electronics Show in Las Vegas. -- While it came onto the market at the top end, HD Radio is now trickling down to even entry-level cars. To emphasize that, parked in the HD Radio booth at CES was a Jetta, a 2012 Focus and a Forester, all relatively affordable rides that can come with the improved radio reception of HD.