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Ferrari 458 Spider & Ferrari California 30 debut at the Goodwood Festival of Speed

The Ferrari 458 Spider and the new California 30 have made their UK debut at the Goodwood Festival of Speed. The hugely appealing Ferrari 458 Spider has made its UK debut at the 2012 Goodwood Festival of Speed alongside the new, more powerful California – the Ferrari California 30. The new 458 Spider – which, if you could still see the engine at the back, would make you wonder who would still but the 458 Coupe – gets a very clever, fully retractable aluminium hard top which is a full 25kg lighter than a comparable cloth top.

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.

BMW US revives ‘The Ultimate Driving Machine’ +video

BMW 5-Series Refuel Advert - Ultimate Driving Machine As car slogans go, the ‘Ultimate Driving Machine‘ from BMW has probably been one of the most successful slogans in car history. Which made it all the more surprising when they dropped it. Their arguments for changing their marketing direction were sound, but always seemed a bit misguided.