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Lamborghini and Bentley may hold off on SUVs so VW can conserve cash

After surveying the European economic scene, Volkswagen may have decided now is not the time to launch utility vehicles with Bentley and Lamborghini badges. Bentley officials say they will continue to push for support for the EXP 9 F and Lamborghini CEO Stephan Winkelman has said planning for the Urus will continue until VW tells it to stop.
That decision could come on November 23, when VW's board will vote on the company's budget for equipment, factories and vehicles. With VW's sales slowing and the Euro economy slumping further, some industry watchers say the company is more likely to build its cash reserves than to introduce super-expensive luxury SUVs or crossovers.
"Such vehicles are anything but obligatory during a crisis," says Frankfurt-based Equinet AG analyst Tim Schuldt in a new Automotive News Europe story. "Delaying their launch would be no drama but help save costs."

2022 Bentley Continental GT Speed Convertible puts 208 mph of wind in your hair

The Bentley Continental GT is once again merging the higher-performance capabilities of its Speed trim level with the open-top convertible body style in the new 2022 Bentley Continental GT Speed convertible. The GT Speed convertible's upgrades largely mirror those of the recently unveiled 2022 GT Speed coupe. They start with increased output from Bentley's W12 engine, which has been turned up to 650 horsepower from 626 horsepower in the non-Speed W12 (torque remains unchanged at 664 lb-ft) and given a more characterful exhaust note. The W12 here again pairs with an eight-speed dual-clutch automatic transmission and all-wheel drive, although both have been recalibrated for Speed duty. The transmission spends more time in lower gears, while the all-wheel-drive system has a more rearward torque bias in the various drive modes. The combination is good for a factory-stated 0-to-60-mph time of 3.6 seconds and a top speed of 208 mph. That's 0.1 second and quicker than the standard W12 convertible and 1 mph faster, thus earning the Speed its name. The Speed's chassis also has been upgraded, with four-wheel steering, an electronic limited-slip rear differential, and optional carbon-ceramic disc brakes with 10-piston front and four-piston rear calipers. They join existing Continental GT chassis technologies that include active air suspension, adaptive dampers, and active anti-roll bars powered by a specific 48-volt electric system. Speed-specific 22-inch wheels are offered in a dark-tint finish to match the mesh grille or, alternately, bright silver or gloss black. Special side gills and discrete "Speed" badging complete the modest exterior makeover. The convertible top is offered in a choice of seven colors including an oh-so-British tweed, and there are eight headliner colors. The fully automated roof can be stowed or raised in 19 seconds. The cabin features Alcantara microsuede accents and two-tone leather and Alcantara seating surfaces with diamond-in-diamond pattern stitching and "Speed" logos stitched into the headrests. Piano black trim is standard, but numerous wood veneers can be specced. There are also metal-trimmed pedals. Heated and ventilated seats are on hand, along with a heated steering wheel and heated armrests to maximize the top-down driving season. There's also a standard neck-warmer that is said to be more powerful and also quieter than before.

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.