Kenworth Freightliner Emergency Brake Valve on 2040-parts.com

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.

Rolls-Royce 102EX concept car (2011) first pictures

Rolls-Royce has confirmed it will show its first electric car at the 2011 Geneva motor show. The 102EX is the latest in a line of concept cars – EX stands for experimental – which history suggests should go on to influence production cars. The Rolls-Royce 102EX is known internally as the Phantom Experimental Electric and is being used to judge reaction to a battery-powered Roller among owners clubs and media.

North America crucial to Fiat's new 5-year plan

Alfa Romeo will play a key role in the U.S. market, Jeep will lead the charge in Russia, Chrysler cars will bolster the Lancia lineup in Europe and Dodge crossovers and SUVs will wear the Fiat badge in Europe. Those are key elements of Fiat S.p.A.