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Audi confirms all-electric SUV on the way

The electric crossover segment might become a hot market in just a few years. In addition to the rumors of an electric Jaguar F-Pace and obviously the Tesla Model X, Audi is now confirming an EV "sports activity vehicle" for early 2018. The Germany luxury brand even showed off a rendering (pictured above) of it during the company's annual press conference. Audi technical development boss Dr. Ulrich Hackenberg made the announcement during his portion of the conference but largely avoided hard details. What he said was tantalizing, though. The still un-named model was claimed to offer over 311 miles of driving range and ride on the brand's upcoming MLB 2 platform. Although, Auto Express suggests that it could be called the Q6 E-Tron. Dr. Hackenberg also promised a "new, very attractive design, which we are developing especially for the E-Tron range and for battery-electric vehicles." The rendering showcased a fairly squat crossover design with bold fender flares dominating the styling in profile. The images also suggested almost coupe-like proportions. Thankfully, the wait for more details about the model might not be too long. Dr. Hackenberg told Auto Express that Audi would have a presentation soon about the new model. He also hinted at a little of its tech by suggesting next-gen batteries offering 50 amp-hours and 90 kWh could be enough for sufficient range even in such a large model. With recent unveilings like the R8 E-Tron and Q7 E-Tron, Audi is rapidly moving towards offering more plugins and electric models. With this latest announcement, that expansion only appears to be accelerating. Prof. Dr.-Ing. Ulrich Hackenberg, Member of the Board of Management at AUDI AG for Technical Development Speech to the Annual Press Conference 2015 Ladies and Gentlemen, 2014 was the year of technical milestones, tests and records. Think of the sportiest piloted car in the world, the Audi RS 7 concept, which lapped the Hockenheimring racetrack extremely dynamically without a driver – at up to 240 km/h. Another mega-success was our 13th victory in the world's most important endurance race. The Audi R18 e-tron quattro with diesel-hybrid drive triumphed in the 24 Hours of Le Mans. 2014 – that was also 25 years of TDI technology. As strong evidence of the future viability of combustion engines, we showed the Audi RS 5 TDI concept – the fastest diesel ever timed on the Hockenheimring.

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

Car companies may need to start curbing model proliferation

Looking at the current automotive landscape, especially from German makers, you quickly get the impression that less definitely isn't more. BMW alone offers its 3 Series platform in practically every segment possible, including the regular sedan and 4 Series Gran Coupe, which would seem to be direct competitors. Porsche might be the winner, though, with 20 different variants of the 911 listed for sale on its US website. However, some of this model madness might be reaching an end as companies begin cutting back spending or shifting money to other priorities.
According to Yahoo Finance, the offerings from the German automakers are up 25 percent over the past three years to over 200 models in Europe. The peak is expected to come around 2018 at 230 separate vehicles, according to consulting company PwC.
Amazingly, BMW, which is among the poster children for this model explosion, might be changing its tune. "I'm sure there will be points in the future where we look at certain cars and say, 'Maybe we need to think differently now,'" said head of sales Ian Robertson in an interview, according to Yahoo Finance. The statement certainly sounds shocking coming from a company rumored to have 23 front-wheel-drive vehicles all using a single platform on the way.