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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.

Ford's green-car strategy hinges on smaller engines, turbocharging

Ford Motor Co. plans to use electric powertrains and smaller engines to improve fuel economy while offering a full range of vehicles. The challenge for Ford is to meet new CAFE regulations and sell pickups, SUVs, crossovers and cars.

Mercedes ML 63 AMG (2012) first pictures

Mercedes is packing its M-class off-roader off to the gym to beef up to BMW's M division SUVs and Porsche's Cayenne Turbo. The result? The new ML63 AMG, unveiled today.