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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.

Mazda reveals date for all-new MX-5

Mazda has confirmed that the all-new fourth generation Mazda MX-5 (ND) will be unveiled in September 2014. The new MX-5 will be shown simultaneously at events in the USA, Japan and Barcelona in Spain. 2014 also marks the 25th anniversary of the introduction of the first MX-5 – also know as the Eunos Roadster and Mazda Miata – in 1989.

New BMW 3-series bows, performance-oriented 335iS joins the lineup

A new performance-oriented 335iS model endowed with an M-sport styling kit and unique chassis settings heads the list of changes BMW brings to its facelifted 2011 3-series coupe and convertible. Set to slot into the lineup between an upgraded 335i and the M3 when it goes on sale in March as an exclusive for North America, the 335iS runs a tuned version of BMW's N54 engine, as found in the recently unveiled Z4 sDrive35iS, coupled to either a standard six-speed manual or an optional Getrag-engineered seven-speed dual-clutch gearbox. The twin-turbocharged 3.0-liter inline six-cylinder engine of the 335iS adds a special software package to bump power to 326 hp and lift torque to 332 lb-ft--or to an even gutsier 369 lb-ft for short periods via an overboost function that unleashes added turbocharger boost pressure.