2018 Audi Rs3 on 2040-cars

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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

Audi claims World Endurance Championship at Fuji

It's been a successful racing season for Audi so far this year. After claiming the drivers' title in the DTM series, the German automaker has successfully defended both its titles in the FIA World Endurance Championship.
The decision came after heavy rain ended the 6 Hours of Fuji after only 16 laps, virtually the entire race having been run behind the safety car. Although Alexander Wurz, Nicolas Lapierre and Kazuki Nakajima won the race for Toyota - the Japanese automaker's first this season - the second-place finish achieved by Allan McNish, Tom Kristensen and Loïc Duval propelled Audi Sport Team Joest out of its challengers' reach.
While the actual drivers' title still remains in contention, the battle now comes down exclusively to the two leading Audi trios: McNish, Kristensen and Duval hold the lead with 147 points ahead of André Lotterer, Marcel Fässler and Benoît Tréluyer, who hold 106.25 points in the standings. Either way, Audi will be awarded both the drivers' and manufacturers' titles in the series with two races still to go in Shanghai and Bahrain.

2015 Audi RS7 Dynamic Edition strutting to NY

The Audi RS7 is already one of the most stylish sports sedans (hatch, wagon, whatever...) on the road today with flowing roof and hunkered down appearance. Now the German automaker is taking that formula even further with the introduction of the RS7 Dynamic Edition at the 2014 New York Auto Show, and the addition of a long list of unique options.
When it goes on sale early this summer, the Dynamic Edition won't come cheap. Prices start at $146,045, which is $41,145 over a base RS7. The extra money allows opulent additions like Black Valcona honeycomb-stitched leather sport seats, Crimson Red seatbelts and interior stitching, Tornado Red brake calipers with the RS7 logo, Audi's Dynamic Ride Control suspension and a sport exhaust. It rides on 21-inch, five-spoke wheels with Gloss Black accents. Also carbon fiber pieces replace the front splitter, rear diffuser and engine cover.
The DRC suspension is a late addition to the RS7's options list and comes standard on the Dynamic Edition. It uses three-stage adjustable dampers that are cross-linked and integrated into the driving mode selection and rear differential.