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Italdesign Giugiaro debuts electric Clipper MPV

The Volkswagen T-ROC wasn't the only Geneva Motor Show concept unveiled this week that uses the Golf platform, Italdesign Giugiaro unveiled an MPV concept that managed to turn quite a few heads. Italdesign is owned by Volkswagen, so this design and engineering exercise seemed like a no-brainer, allowing the company to show off an extra concept car in an entirely different wrapper. The Clipper an all-wheel drive six-seat MPV sitting on the MQB platform, which Volkswagen is keen to expand beyond the Golf and the next-generation Scirocco, and it features two electric motors producing 149-hp each, one for each axle.

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.

Toyota to spend $1.1 billion on unintended acceleration claims

Toyota Motor Corp. is setting aside $1.1 billion to settle various U.S. lawsuits and other claims stemming from reports of unintended acceleration that plagued the automaker in 2009-2010.