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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.

Woman wins Audi R8 Spyder on The Price Is Right, goes bananas

Of course, we love to tune into The Price Is Right to see average Americans spin the big wheel, play a round of Plinko or Cliff Hangers, and participate in the gladiatorial Showcase Showdown. But there is one reason, and one reason alone that the daytime game show has captivated us since its inception in 1972... 'A new car!!!'
Back in November, the show held a Dream Car Week that saw contestants get the chance to win whips like a Porsche 911 and a BMW 6 Series, amongst others. It must have been pretty successful, as the PIR team is back at it, this time giving away an Audi R8 Spyder with a sticker price of $157,300. That makes it the single most-expensive item given away in the show's history.
The R8's new owner, Sheree Heil, may not fit the image of a typical R8 driver - we anticipate she'll learn which side of the car to drive on after the show is over ­- but she is clearly tickled pink with her big win. Check out the insanity below.

Audi SQ7 TDI would make a compelling option in the US

Intrigued by the prospect of the new Audi SQ7 TDI? We are. And promising though the signs may look, we'll likely still have to wait a while before Audi confirms whether it will bring the new performance diesel crossover to North America, much less announce pricing. But based on the sticker just attached in Europe, the SQ7 looks like a compelling choice – if a difficult one to compartmentalize. Audi has priced its new top-of-the-line crossover at 89,000 euros. Adjust for taxes and exchange rates, we'd likely be looking at an MSRP of roughly $86,000 in US showrooms, if and when it gets the green light from Ingolstadt to embark on the the transatlantic voyage. That places the SQ7 above any diesel crossovers we get in the US, but significantly undercuts the large, gasoline-powered performance SUVs we do get – like the BMW X5 M ($99k), the Mercedes-AMG GLS63 ($124k), and the Porsche Cayenne GTS ($95k) or Cayenne Turbo ($115k). The diesel performance version of the Q7 has more direct competition overseas in the forms of the Porsche Cayenne S Diesel and BMW X5 M50d – but the Audi offers a bigger bang for only a little more buck (or euro) than either. Where Porsche offers 385 horsepower and 627 pound-feet of torque for ˆ87.4k, and the BMW boasts 381 hp and 545 lb-ft for ˆ85.7k, the Audi trumps both with a prodigious 435 hp and a massive 664 lb-ft for only a little more cash. The SQ7 also outperforms both by a significant margin, reaching 62 miles per hour from a standstill in a scant 4.8 seconds, versus the 5.3 achieved by both the Cayenne S Diesel and X5 M50d. That places Audi's latest in something of a category of its own, leaving its similarly priced but less potent diesel competition in its wake. And with more torque but less power, it rapidly encroaches on the levels of performance offered by the top gasoline-powered performance crossovers – whose 0-62 sprints range from 4.2 seconds (in the X5 M) to 4.6 (in the GLS 63). The question on our minds is whether Audi will bring the new SQ7 TDI to these United States. Our sources tell us the chances are good, but far from confirmed. Our hopes were further raised by its appearance in the latest Captain America movie. But it's the SQ7's performance vis-a-vis the competition – difficult as it may be to categorize – that has whetted our appetites the most.