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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 Bentayga Hybrid First Drive Review | Mass without substance

The new Bentley Bentayga Plug-In Hybrid is the venerable British brand's cheapest vehicle. Certainly, with a base price of $158,000, it is not inexpensive by any stretch. In fact, it costs more than four times the average price of a new vehicle purchased in America this year. But after driving an advance version of the marque's first plug-in through the horror-scape that is Silicon Valley, we were reminded of the old saying: You get what you pay for. We will preface this review by stating something that should be obvious: The Bentley Bentayga is our least favorite Bentley. Its proportions are inelegant, its shape nondescript. Though we know it is hand-built in Crewe alongside the rest of the marque's wondrous new lineup, it lacks the specialness, a sense of occasion that should be endemic. This isn't just because it's a sport utility vehicle, and thus ostensibly utilitarian. The contemporary Range Rover, the Mercedes G-Class, and even the Rolls-Royce Cullinan all have the kind of gracious charisma that the Bentayga lacks, even if they deliver it in a manner that is louche and imperious. The Bentayga looks like a Bentley knockoff, a crossover tarted up with all of the relevant if superficial brand cues, but without the necessary substance. The plug-in hybrid only enhances this perception. Whereas other Bentaygas at least arrive with potent twin-turbocharged motors in V8 (542 horsepower ) and W12 (600 or 626 hp) configurations, the Bentayga Hybrid is granted only a 335-horsepower VW parts bin 3.0-liter, single-turbo V6, paired with 13 kWh of batteries in the trunk and a 126-hp electric motor. It accelerates to 60 mph in 5.2 seconds, well off the pace of its non-hybrid siblings and in the realm of its lesser platform-mate, the $70,000 Audi Q8 V6. This is not special. Even less special is the way in which the Bentayga Hybrid comports itself when accomplishing its tasks. A Bentley, by definition, is meant to be extraordinary, and this extraordinariness is meant to be effortless. Being in a Bentley should make everyday events special, and special events grand or even grandiose. Driving the Bentayga Hybrid feels like engaging with functional transportation. This is not because we are hostile to electric vehicles. We love electric vehicles, and their intrinsic and luxurious benefits in terms of silent operation and instant-on torque.

Bentley releases new details on Continental GT3 racer

Porsche's new LMP1 Prototype isn't the only motorsports news coming out of Volkswagen AG this week. After unveiling its new Continental GT3 at the Paris Motor Show last year, Bentley has released some new images and details as this racecar continues its development. Similar to the Porsche announcement, Bentley's new GT3 marks a significant return to motorsports, only in this case, Bentley hasn't raced a car since 2003 - a winning effort at the 24 Hours of Le Mans.
From street to race form, the Continental has dropped about 2,200 pounds by shedding many of the luxury and tech features that make the street-legal Continental GT the car that it is - including 50(!) electronic control units. The Continental GT3 uses the same 4.0-liter, twin-turbo V8 as the road car, but we're guessing output has been tweaked a bit from the standard 500 horsepower. Except for the carbon fiber hood, decklid and doors, Bentley says that the body of the GT3 is a direct carryover from the Continental GT.
Inside, even a stripped interior and full roll cage won't stop Bentley from being Bentley as it gives this racecar the same attention to detail as its road cars - the seats, steering wheel and door pulls all receiving the hand-crafted treatment from the factory in Crewe. There is no word as to when the Continental GT3 will make its racing debut, but more details about the car can be found below in the official press release.