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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.

McLaren reveals unique X-1 concept at The Quail

McLaren introduced a one-off supercar at The Quail on Aug. 17. It's named the X-1 and was built for an anonymous car enthusiast.

Audi's clean and green future

By Ben Pulman First Official Pictures 30 August 2007 04:30 What’s all this about then? Vorsprung durch Technik? Audi, like every other German premium car maker, is feeling the pressure from the EU, its own Green Party, Al Gore, and seemingly everyone else.