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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.

Mercedes-Benz M-Class

Mercedes-Benz has announced the 2012 M-Class. The third generation off-roader is said to ‘set a new benchmark in the SUV segment’ in terms of design, consumption and comfort. Boasting an array of mechanical and technological enhancements, the M-Class is said to be vastly improved both on and off road.

Honda to enter BTCC with new Civic Tourer

What do One Direction and Honda’s British Touring Car Championship (BTCC) team have in common? While both were initially likeable and talented, they’re now starting to get a little bit too cocky. With four successive championship wins under its belt, Honda has announced that it will enter its new Civic Tourer estate into the BTCC next year.