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Volkswagen profit jumps as it warns of a cooling auto market

FRANKFURT, Germany — Volkswagen says its profits jumped 44% in the third quarter thanks to a more profitable mix of vehicles in its lineup but warned that global car markets are slowing more than expected and lowered its forecast for annual sales. After-tax profit rose to $4.42 billion (3.98 billion euros) as revenues rose 11% to $68.27 billion (61.42 billion euros). The sales margin of 7.8% exceeded the goal of 6.5-7.5% as vehicles bringing higher profits took a larger share of sales. The Wolfsburg-based automaker pointed to the headwinds facing the industry by saying that it expects "vehicle markets will contract faster than previously anticipated in many regions of the world." It said sales would be "on a level" with last year's record of 10.8 million vehicles. Previously it had expected a slight increase. The company said its profits would be in the lower end of its forecast range. Global automakers are facing a slowdown in sales amid disputes over trade and from pressure in the European Union and China to develop and sell low-emission vehicles that require heavy investment in new technology. Ford and Renault have issued profit warnings in recent days, while Daimler, maker of Mercedes-Benz luxury cars, lost money in the second quarter and is expected to outline a cost-cutting strategy for investors on Nov. 14. Volkswagen is leading the push into electric vehicles in Europe by launching its ID.3 battery-powered compact car at prices it says will make zero local emission vehicles a mass phenomenon. The company was able to increase earnings in the quarter despite an 18% rise in spending on research and development.

Best of 2016 | The List

The List hosts Jessi and Patrick spent all of 2016 checking awesome adventures off their automotive bucket list, from escaping a car dangling off a cliff, to taking part in The Great Race road rally. In total, our hosts checked 12 challenges off Autoblog's list of "1,001 car things to do before you die," taking them on travels across the United States and the United Kingdom. Check out some highlights from the season as our hosts drive everything from the super modern to the refreshingly classic, and even take their lives into their own hands all for the sake of completing the ultimate car enthusiast's bucket list. As we look ahead to 2017, be sure to send us your automotive bucket list items. Who knows, maybe your submission will inspire Jessi and Patrick's next escapade. Click here to find more episodes of The List Click here to learn more about our hosts, Jessi and Patrick Aston Martin Bentley Land Rover McLaren The List Videos

The Macallan and Bentley Motors single malt whisky costs more than a car

Whisky connoisseurs will want to start saving to get their hands on a single malt whisky from Bentley Motors and The Macallan. The bottle costs more than an average car and is part of a collaboration to celebrate the distillery’s 200th anniversary.  “Our collaboration with Bentley Motors and the knowledge exchange we have undertaken as a result has inspired us to see things very differently. In the spirits world, everything is upright, such as our stills and our bottles,” said Jaume Ferras, global creative director for The Macallan. The sideways format upends all that. The bottle is made from recycled materials used by The Macallan and Bentley Motors. The design consists of a copper frame, aluminum ribbon and low-carbon leather. It sits inside a leather-lined wooden case made of oak inlay and features BentleyÂ’s Crown Cut Walnut veneer.    “Taking inspiration from the automotive industry, we are showcasing our creative vision and concept development of The Macallan Horizon, which is among the most unique projects we have embarked on in our almost 200-year history,” said Ferras. Placing the entire work of art on its side was meant to invoke the "horizontal trajectory of the automotive world." According to Vinepair, the whisky was distilled in sherry-seasoned oak casks and smells of plums and dark cherries with traces of cinder toffee, crystallized ginger and charred pineapple. Before you head to the nearest retailer, you will want to make sure you have the funds for this bottle. It will cost you $51,274.