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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.

Bentley Continental Flying Spur taking shape

The redesigned Bentley Continental Flying Spur has again been caught undergoing testing, though this time away from public roads while tackling the Nürburgring's 154 turns. The car we see in these new spy shots also reveals more of the Flying Spur's new lines, which we expect to largely mirror the shape already seen on the new Continental GT and GTC models.
Likewise, the new four-door Continental will probably come with the same engine options as the coupe and convertible: the tried and true 6.0-liter W12 making 567 horsepower and the new twin-turbo 4.0-liter V8 producing 500 hp. Its two stablemates were also updated with an eight-speed transmission for 2012, so expect the Spur to swap that many gears, as well.
Really, the only unknowns left are how Bentley will be handling the four-door specific design elements like the shape of the rear end, which is somewhat obscured by this car's checkerboard camo, as well as when the sedan will debut. We've received no indication thus far that Bentley is planning to use the Paris Motor Show, which happens later this week, for the Flying Spur's unveiling. That leaves a string of upcoming shows where it could happen, including the LA Auto Show, Detroit Auto Show and Geneva Motor Show.

Bentley Bentayga interior teased in new video

The Bentley Bentayga is growing ever closer to launch, and we already have a pretty good idea of what the production version looks like. Now, Bentley is giving us a surprisingly detailed tour of the super-luxurious crossover's interior in a new video. The clip focuses on some of the plush CUV's tech and does so by actually showing it off in the cabin. We get a good view of the center console that includes a gearshift with the Brit brand's emblem on top, two cupholders and a rotary dial to switch between multiple driving modes. There are also some close-up shots of the Bentayga's instrument cluster with large, round dials for the speedometer and tachometer. Between them is a digital display that's teased here for the night vision system and later for the navigation duties. In front of the driver, a head-up display projects the nav and speed info, as well. For now, this is a pretty good idea of what to expect from the inside of the Bentayga. The crossover will be fully revealed later this year and will go on sale in 2016 with prices for some of them even above the Mulsanne. It'll ride on a platform shared with the latest Audi Q7, but the powertrain lineup will include a W12 at launch. A diesel V8 and plug-in hybrid version will likely join the range later.