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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.

One Lap of the Web: A Lamborghini museum tour, a quad-turbo Volvo, and a look at the Datsun 240Z

-If you've ever wanted to check out Lamborghini's Museum in Sant'Agata Bolognese, but the whole "trip to Italy" thing has held you back, Jalopnik tells us you can check it out via the magic of the Google machine. Get over there and take a look. -Everybody knows that the path to Volvo nirvana can be paved with American V8s.

Lotus Esprit James Bond car up for auction

The Lotus Esprit Submarine (pictured) from the James Bond 007 film is up for auction James Bond and cars go together like bacon and eggs and, with the exception of the 007 Aston Martin DB5, the Lotus Esprit ‘Submarine’ car from the Spy Who Loved Me is probably the most iconic Bond car to have hit the big screen. Piloted in the film by Roger Moore – with Mrs Ringo Starr, Barbara Bach, at his side – the underwater version of the Esprit, one of six used in the film, was affectionately know to the crew as ‘Wet Nellie’ and actually piloted for the underwater scenes by former SEAL Don Griffin, who worked as a test pilot for the creators of the Esprit Submarine - Perry Oceanographic. After filming ended it was sent of to a storage unit in Long Island, ten years rent was paid upfront but, when the 10 year rent period ended, no one stepped forward to claim the contents at they were sold off for a song to a local couple.