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Jon Olsson's 1,000-hp Audi RS6 Avant stolen at gunpoint, burned

Swedish professional freeskier Jon Olsson loves some insanely modified vehicles, like his Rebellion R2K, but tragedy recently struck for one of his crazier former rides. The custom Audi RS6 Avant was a wild wagon with DTM-inspired bodywork and an engine tuned to a claimed 1,000 horsepower. Unfortunately, the machine was stolen in a brazen armed robbery. Making matters even worse, the crooks torched the car at the end of their joyride. Olsson drove the tuned RS6 in this year's Gumball 3000, and later sold it to a dealer in the Netherlands, according to Auto Evolution. Recently, the wagon was taking part in a photo shoot in Amsterdam. That's when two armed men showed up to steal the Audi. Somehow in the chaos, the robbers' van caught fire, and they got away with the RS6. The criminals weren't too clever, though, because they didn't think to grab the key from the owner's pocket, Car Throttle reported. That would have made the Audi much more difficult to start again, if they shut if off. Although, that apparently never became a problem. The crooks sped off and eventually dumped the car before police were ever able to get them. In a final act of destruction, the thieves also incinerated the one-of-a-kind RS6. An investigation is ongoing. Olsson's Instagram post below shows how little is left of this once incredibly cool wagon. "But now I am more motivated than ever to follow this build up with something just as good," Olsson wrote on his website. Poor poor #RS6DTM Such a sad sight! ??? Who would do such a thing! #hurtsmyheart A photo posted by Jonolsson1 (@jonolsson1) on Oct 15, 2015 at 8:03am PDT Related Video:

Volkswagen posts quarterly profit despite drop in sales

Volkswagen returned to profit in the third quarter as surging Chinese demand for luxury cars helped offset a 1.1% drop in vehicle deliveries due to the pandemic, sending its shares as much as 3% higher on Thursday. The German automaker's return to the black comes amid spiking coronavirus cases in Europe that led governments in France and Germany to order their countries back into strict national lockdowns on Wednesday. "The coronavirus remains a central problem," Volkswagen Chief Financial Officer Frank Witter said in a conference call with reporters. "This situation now is anything but relaxed." But Witter said the group expected the economic recovery to continue and did "not anticipate any nationwide lockdowns in larger markets." Witter said the takeover of U.S. truck maker Navistar International by Volkswagen's trucking unit Traton was an important acquisition, but the "current economic climate will not make this easy." Volkswagen reiterated it expects to post a profit for the full year, saying its business "recovered noticeably" in the third quarter as sales in China of premium vehicles, including Audi and Porsche sports cars, rose 3%. The quarterly performance was also aided by a series of cost-cutting measures launched earlier this year. Volkswagen said its net liquidity rose to 24.8 billion euros from 18.7 billion at the end of the second quarter. Excluding one-time items, third-quarter operating profit was 3.2 billion euros ($3.8 billion), down from 4.8 billion euros a year earlier, but up from a second quarter loss of 1.7 billion. In a note to clients, Jefferies analyst Philippe Houchois described the results as a "solid performance with strong cash, but relatively muted in the context of the (auto) sector recovery." Last week, German rival Daimler reported a record 24% jump in Chinese demand for its Mercedes-Benz cars, boosting its margins in the third quarter. Italian-American Fiat Chrysler Automobiles and Peugeot manufacturer PSA Group both also posted solid results this week. Witter said Volkswagen could not say for sure whether it would meet EU CO2 emissions targets this year, adding "it will be a tough race." At 1030 GMT, Volkswagen shares were up 2.9% at 129.20 euros. Related Video: Earnings/Financials Audi Bentley Bugatti Lamborghini Porsche Volkswagen

Despite premium carmakers going downmarket, luxury auto sales stick at 10-11%

According to research conducted by global information company IHS Automotive, the leporine birthing of new models by luxury manufacturers over the past six years hasn't increased their market share in the US. Even as car sales reached 15.6 million units, IHS says what's happened instead is that luxury buyers are merely moving from one brand to another, moving from larger luxury vehicles into hot segments like compact luxury crossovers or leaving the market at the same rate as other buyers enter.
Whether broken out by makes or by segment, market share has rollercoastered inside a narrow band from 10.5 to 11.5 percent since "at least" 2008. Closer investigation reveals the shifting boundaries in the aspirational pond, with brands like Mercedes-Benz and Audi gaining territory as Lexus and Lincoln lost it, and Saab and Hummer were buried, dead, under it. One neat note is that Tesla has gone from a share of zip to .12 percent.
The subcompact and compact crossover segments show growth, with those little high-riders jumping from .3 percent to 1.16 percent of overall industry sales. Their rise, though, is concomitant with the decline of four other segments: compact and midsize cars and fullsize cars and SUVs. We think the next few years that will tell if the small-car expansion can overcome the large-car retraction, with a phalanx of smaller offerings like the CLA only recently hitting the market and others like the GLA, Macan and Q1 doing so in the near future.