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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.

After much hype (and one van), Mazda rethinks design plan

After four years of hyping its curvy, fluid Nagare styling philosophy--but developing only one production vehicle with the look--Mazda has changed design course. Now the Japanese carmaker wants to go with a simpler, more upscale style. So the design language seen in the Shinari concept car being unveiled at the Los Angeles auto show this week represents Mazda's future.

Ford, Toyota, GM sales soar in March

General Motors Co. posted a 21 percent increase in March U.S. sales while Toyota Motor Corp.