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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.

Audi will build E-Tron Quattro in Brussels in 2018

Audi will begin assembly of the production version of the E-Tron Quattro concept crossover in Brussels, Belgium, in 2018, and the company will also build the vehicle's batteries there. Introducing its first electric CUV will be an early step in the German automaker's goal for 20 to 25 percent of US deliveries to be EVs by 2025. The E-Tron Quattro concept previewed the electric crossover's angular styling at the 2015 Frankfurt Show, and Audi was clear that production would start in early 2018. The vehicle should have ample get-up from three electric motors – one in front and two at the back – for a total output of 429 horsepower but brief jolts up to 496 hp. Audi also claimed that the 95-kWh battery could offer over 311 miles of range on the European cycle. The company already signed a deal to use battery cells from LG Chem and Samsung SDI on the final model. Some rumors suggest Audi might call the production version the Q6. The company supports that possibility in its press release by saying: "The sporty SUV will fit between the Audi Q7 and the Audi Q5 in the product portfolio." However, Audi of America president Scott Keogh hinted to Autoblog before the LA Auto Show that it could carry a different name. Audi's development of the E-Tron Quattro is an example of Volkswagen Group's strategy to take EVs more seriously. For example, improved batteries will soon boost the e-Golf's range. Further in the future, Porsche will launch a production version of its Mission E electric sedan around 2020, and VW will reportedly make an electric Phaeton at some point next decade. Related Video: AUDI PRODUCTION NETWORK: READY FOR ELECTRIC MOBILITY Premium manufacturer to produce large series of electric cars in Brussels as of 2018 New models for Martorell (Spain) and Gyor (Hungary) Audi CEO Rupert Stadler: "We are increasing our efficiency and bundling key competencies" January 20, 2016 | Ingolstadt/Brussels/Gyor/Martorell -- Audi is preparing its international production network for the mobility of the future. Large-series production of the first purely electric-driven SUV from Audi will begin at the site in Brussels in 2018. The plant will also produce its own batteries. The company will transfer production of the Audi A1 from Belgium to Martorell in Spain. The Audi Q3, which is currently produced in Spain, will be built in Gyor (Hungary) in the future. The model rotation will benefit all the sites of Audi's global production network.

Audi reveals virtual reality 'dealership in a briefcase'

Virtual reality still seems like technology that should be lumped in with the flying car and colonizing the moon as the sort of perennially "almost-here" Next Big Thing that never quite arrives. However, devices like gaming's Oculus Rift suggests that it's too soon to write off VR just yet, and Audi apparently agrees. The heart of its new VR Experience is a headset that customers wear that lets them see a virtual car before their eyes. Using the technology, the potential buyer can sit behind the wheel or open up the trunk. A camera tracks their head movements and adjusts the image on the goggles accordingly. To make the whole experience even more immersive, headphones let them hear the sound of the door or listen to the radio. The German automaker claims that the VR Experience technology will be available in "dynamic growth markets" by the end of 2015. The system will essentially offer the entire dealership experience in a device the size of a briefcase, and it'll be possible to view every possible equipment combination and color on all of the brand's models. The immersive hardware sounds amazing, if it's as good as the automaker claims. Among other things, VR will allow buyers to pick out just the right color and trim, even if the dealer doesn't have that specific combo in stock. Read below for Audi's announcement of this sci-fi gadget that the company claims is on the way. Audi VR experience: the dealership in a briefcase Innovative virtual reality headset extends advisory service at Audi dealers Sales chief Luca de Meo: "Further proof of Audi's pioneering role in sphere of digitization" First Audi dealerships to introduce new sales tool by end of 2015 Audi is taking the next big step in integrating digital technologies into automotive retail: The Audi VR experience gives customers the opportunity to configure their preferred car at the dealership through virtual reality headsets and experience it in a unprecedentedly realistic way. The headset showcases the entire model portfolio of the four rings, including all possible equipment combinations. Audi has become the first automotive manufacturer to develop a dedicated retail software solution for virtual reality headsets.