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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.

Audi A2 EV won’t make production – but you knew that

Audi has revealed that it’s dropped plans to put the A2 electric concept – first revealed at Frankfurt 2011 - in to production. Back in June 2012 we reported that the Audi A2 EV wouldn’t make production as Audi had decided that the market simply wasn’t there for a £40k electric city runaround. Now that appears to have been confirmed by Audi in conversation with Autocar.

Changing course, Chrysler considers a small Ram pickup

Chrysler may develop a unibody small pickup positioned below the Dakota, whose production will end in 2011. "We're thinking of something that will separate itself from the full-sized truck more than what happens today, both in capability, price and size," said Joe Veltri, Chrysler Group vice president of product planning. "The Ram brand has room to expand into a compact-truck segment." Veltri, interviewed this month at the National Truck Equipment Association's Work Truck Show in St.