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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.

Caparo T1 (2007) in detail

By Phil McNamara First Official Pictures 08 June 2007 03:21 What's the latest news? The Caparo T1 is launched today, and it's the most extreme supercar ever built, claim its creators. Out of the way Le Mans racer or superbike – the British designed T1 is mightier than both.

Bugatti Type 57S Atalante found in a barn

You’d have thought that every barn in the world had been scoured for lost classic cars by now. But it would seem not. An extremely rare Bugatti Type 57S Atalante has been found in a barn in the North East, property of a late Dr Harold Carr.