2011 Audi 2.0t Premium Plus on 2040-cars

Auto blog

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

Giant duck runs amok in Glasgow

This Audi R8 V10 sounds great with a Capristo exhaust

No matter how rainy or grey your Monday morning is, it only takes a video of an Audi R8 V10 Plus with an aftermarket exhaust to brighten it up a little. This black 2016 example has been modified with an exhaust built by the German specialist Capristo, and the results are impressive. The piping makes the R8 crackle and scream in a wonderful way at a recent Gumball event, with cars lining up on the track tarmac to perform a few neat launches despite the drizzly weather. The Capristo exhaust takes advantage of the R8 V10's existing valve system in the stock exhaust setup, and improves upon that with programmable valve control offering different modes. By pressing buttons on the keyfob, the driver can go from "Cruise" mode to "Sports" or "Open", all differing in loudness. Stock the V10 plus produces 610 horsepower, and the Capristo setup is sure to throw in a few extra ones. Related Video: News Source: GumbalImage Credit: Capristo Exhaust Aftermarket Audi Supercars Videos