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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.

2010 Michelin Challenge Design Finalists Announced

Have you ever dreamed about having your vehicle designs featured at an international auto show? Beginning January 11, the 34 designers below will be living that dream when their original work is unveiled in the Michelin Challenge Design exhibit at the 2010 North American International Auto Show (NAIAS). Top automotive designers serving on the Michelin Challenge Design jury selected the work based on the theme 'Electrifying!

Renault Clio & Megane World Series Special Edition launched

Renault has released World Series Limited Editions of the Clio and Megane The World Series Limited Editions are based on the Dynamique trim level, but throw in a chunk of extra kit to make these World Series Limited Editions. The Renault Clio World Series gets side skirts, an extended front spoiler, new back bumper and the required ‘WSR’ badges. You get an engine choice – the 1.2 litre 75, the nTCe 100 or the dCI oil-burner.