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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.

2012 Jaguar XKR-S Convertible Price: £103,000 & just 100 UK cars

Jaguar XKR-S Convertible - For Sale at £103k in the UK We noticed yesterday that Jaguar in the US seemed to have confirmed that the US price for the new Jaguar XKR-S Convertible - currently strutting its stuff at the L.A. Auto show – is $138,875, and that the States is getting just 25 cars, which have all been sold. Despite a frantic search of our inbox, we couldn’t find any sign of a UK price for the soft-top XKR-S in the UK, so we got hold of Jaguar who have confirmed the UK list price as £103,000.

Spyker want $3 billion from GM over Saab Saga

Spyker has filed a law suit against General Motors for $3 billion for refusing to allow Saab to be sold to the Chinese. Victor Muller is not the kind of man who gives up until he’s exhausted every avenue to get what he wants. Which might explain why Spyker has just issued a $3 billion law suit against GM.