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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.

Hyundai's Super Bowl ads highlight speed

Having been batted about regarding their fuel-economy claims, Hyundai has decided to use their Super Bowl ad dollars to highlight the raw power of the Sonata Turbo and the Genesis R-Spec sedan. We find the above Sonata ad a whimsical piffle, featuring a couple utilizing their family sedan's turbocharged 2.0L four to handily pass obnoxious/dangerous motorists. We're partial to the whipping, slimy ropes of dog drool.

Schumacher & Rosberg: A pregnant pause

Michael & Nico compete to help a pregnant damsel in distress. Those crazy Germans, they do like to josh with us. Since Mercedes now has an all German team we wonder if they’re trying a bit too hard to prove there’s a human face to the team, and it’s not all just Teutonic and robotic (and not, as yet, stunningly successful).