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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 sketches out new TT ahead of Geneva debut

In less than two weeks, the doors will open at the Geneva Motor Show, and we'll be there to capture all the action. Among the dozens of new debuts we're looking forward to will be the arrival of the new third-generation Audi TT, and to give us a better idea of what we're looking forward to, Ingolstadt has released this series of teaser sketches.
Looking every bit like a TT should and drawing heavily on the Allroad Shooting Brake concept that debuted at the Detroit Auto Show last month, the images foretell of a new Audi sports coupe with a single-frame grille, matrix LED lighting and a deeply creased hood with the four-ring emblem placed atop the nose, as on the R8.
Horizontal lines at the back preview Audi's next design language, with twin exhaust tips flanking the diffuser on base models and quad tips on the next TTS. A cleaner interior design also harkens back to the first-gen TT that started it all and from which the new one draws its inspiration. Scope out the images in the gallery above for a closer look at what's to come, then scroll down for the details in the press release below.

Audi A4 preps to go Allroad

Audi recently unveiled the lighter, larger, and sleeker 2017 A4, but the sedan is just the beginning. We know that A4 Avant and Allroad wagon versions are on the way too. Only the Allroad, however, is destined for these shores. These spy shots provide an early idea of what to expect for American buyers who prefer a longer roof and more room to haul in the back. A few key details distinguish this Allroad from the standard Avant, including the elevated ride height. Also, look carefully at the front three-quarters shot, and you can also pick out the more pronounced fender flares. Audi's designers made slight adjustments to the air dam, especially below the headlights, and there are some smaller tweaks to the rear bumper, as well. The Allroad's debut is expected to be staggered from the sedan and Avant versions, and the company obviously isn't talking about power yet. The only powertrains divulged for the 2017 A4 in the US are either a revised 2.0-liter TFSI or a 2.0-liter TDI diesel. Regardless of engine, all-wheel drive would certainly be standard to fit the more rugged version's styling. Related Video: