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VW makes $23K on every Porsche sold, more than Bentley or Lamborghini

It's a good time to be in the luxury car business. In Volkswagen Group's financial report for the 2013 fiscal year, it is revealed that that Porsche enjoyed an operating margin of 18 percent. That means the Stuttgart brand made on average about $23,200 per car sold, according to BusinessWeek. Bentley wasn't far behind, and Audi (which was combined with Lamborghini) posted a 10.1 percent margin. This compares to only around 2.9 percent for the Volkswagen brand.
"Luxury brands are on fire," said Dave Sullivan, an industry analyst at AutoPacific. He said that the average profit margin is between six and eight percent. Brands like Porsche and Bentley have the benefit of competing in rarefied markets. Buyers looking at one their vehicles have fewer models to shop against and don't care as much about price. They can also charge more for options, which further boosts income, according to BusinessWeek.
In a way, we should be more impressed by the continued success from Audi. Its models generally have direct competitors in every segment from the other premium automakers. Plus, their buyers aren't the captains of industry who are shopping for a Bentley. Still, the Four Rings is leading rivals in sales so far this year.

Giorgetto Giugiaro sells shares in legendary styling house to Audi

Giorgetto Giugiaro undoubtedly stands among the great automotive designers of the 20th century, having penned the original Volkswagen Golf and Delorean DMC-12, among countless others. However, the great stylist is now longer an employee or even an owner of the company that bears his name. According to Automotive News, Giugiaro and his son, Fabrizio, sold their remaining 9.9 percent of Italdesign Giugiaro to Audi on Sunday, June 28, and the two resigned from the business the following day. The news about this just came out, though. The exact reason that the two men left the company hasn't been made entirely clear. According to Automotive News, a statement said that Giorgetto Giugiaro went "to dedicate more time to his personal interests." Italdesign Giugiaro remains open and intends to keep growing, though, the same announcement asserts. After stints at Bertone and Ghia, Giugiaro founded Italdesign in 1968. He created some masterpieces there, including '70s wedges like Maserati Merak, Lotus Esprit, and much more. The 2000s weren't so kind and 90.1 percent of the company was sold to Volkswagen Group in 2010. Former Audi design boss Wolfgang Egger took over styling duties there in late 2013, but he only lasted for about a year, leaving in late 2014. Since the sale, Italdesign has continued to work, including with the Gea concept at the 2015 Geneva Motor Show and the very mean-looking Parcour in 2013. Giugiaro's designs are still highly prized, as well. On September 5, Bonhams is auctioning the Maserati Boomerang concept by him and expects to get around $4 million for it. The gallery above offers a few more examples of his and Italdesign's concepts for VW Group over the years.

Recharge Wrap-up: Electric Bayliner conversion, China considers EV mandates

An electric mobility enthusiast converted a Bayliner boat to electric power. Using 10 Tesla modules to build a 32-kWh battery pack, Scott Masterson's 2016 Bayliner 175 now uses an electric motor in place of the original 3.0-liter Mercruiser engine. With a top speed of about 53 mph and a range of about 25 miles, Masterson can enjoy a nice cruise on the water without the accompanying gas fumes. He says the conversion wasn't all that complicated, and it took him about three months of part-time work. Check it out in the video above, and read more at Electrek. Audi's updates to the 2017 A3 include the E-Tron plug-in hybrid. Inside the car, it will likely get Audi's "Virtual Cockpit" instrument display. The MMI infotainment system will be updated, with available Apple Carplay and Android Auto functionality. Slight changes to the headlights, taillights, and grille will make up the bulk of the exterior visual changes. Its powertrain will remain unaltered from the 2016 model, including its 83 MPGe combined rating and 16 miles of all-electric driving range. Read more at Green Car Reports. Hyundai has delivered its first hydrogen-powered car to Quebec. The Centre de Gestion de l'Equipment Roulant (Rolling Stock Management Center), which manages the province's government fleets, took delivery of a 2016 Hyundai Tucson Fuel Cell. It is leased in partnership with the University of Quebec's Hydrogen Research Institute of Trois-Rivieres, where the vehicle will be refueled. Read more from Green Car Congress. China is considering mandates for cleaner cars similar to those imposed by California. Unlike its current subsidy-based incentives, China could potentially require automakers to either produce or import more electric vehicles or purchase carbon credits from automakers that do. A draft of the legislation from the National Development and Reform Commission would fine non-compliant automakers at five times the price of the credits. "Without question, this will be good for the industry and will promote the development of all types of clean-energy vehicles," says China Association of Automobile Manufacturers Deputy Secretary General Ye Shengji. Compliance would be voluntary for smaller automakers. Read more from Automotive News.