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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.

Mini hits three million milestone

THE MUCH-LOVED new Mini has reached two major milestones this week. Since BMW took over the brand in 2001, three million Minis have now been produced at the plant in Oxford and the company has also reached the two million mark in Minis for export. The three millionth Mini is a five-door Hatch Cooper S and has a special exterior design to celebrate its heritage and British roots.

Honda Odyssey has more room, more stuff

The redesigned Honda Odyssey minivan, scheduled to arrive in dealerships this fall, is lower, wider, roomier and more aerodynamic than its predecessor. It also will have more standard features and will be priced about the same as the current model. Exterior design never has been a big factor with minivans.