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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 re-creates one-of-a-kind sports sedan destroyed in 1939

Bentley's Mulliner division specializes in making one-off (or few-off) projects for clients willing to foot the bill. They're the folks you'd want to talk to if you want a long-wheelbase Flying Spur, a Bentayga-based dually pickup, or anything in between. The division only works on new models, but it stepped outside of its comfort zone to re-create a one-of-a-kind Bentley manufactured and destroyed in 1939. The project is part of Bentley's on-going centennial celebration, and finishing it in time was easier said than done. It made building a concept car like the EXP 100 GT look like assembling a Lego kit. The original Corniche disappeared after getting bombed by the German army, and a majority of the people who saw it in person are dead, so the men and women tasked with resurrecting it only had a handful of period, black-and-white photographs and technical drawings to work with. The final product looks stunning, and Bentley claims it's identical to the original in every way. Parts like the chromed headlight bezels, the droplet-shaped fenders, and the wooden dashboard were exclusive to the Corniche, so they had to be manufactured from scratch using the correct materials, and the right production techniques. The British firm could have saved itself the trouble of re-creating this unique part of its history if another car hadn't pulled out in front of it 80 years ago. Bentley made the original Corniche during tumultuous times as it explored the possibility of releasing a more powerful variant of the Mark V scheduled to make its debut in October 1939. It asked French designer Georges Paulin to draw a futuristic, streamlined body, and it commissioned Paris-based coachbuilder Carrosserie Vanvooren to build it using thinner-than-normal steel to save weight. The Corniche lapped the Brooklands track for the first time in May 1939 and quickly reached over 100 mph, an impressive speed at the time. Testing continued in rural France, where the big Bentley blended in as well as a flying saucer. In August 1939, one of the company's test drivers swerved to avoid another car, rolled, and wrapped the aerodynamic front end around an unsuspecting tree. Bentley separated the body and the chassis. It immediately shipped the chassis to its headquarters in Crewe, England, and curiously asked a local shop to repair the body instead of sending it back to Vanvooren in Paris.

The Bentley EXP 12 Speed 6e Concept is the gentleman's open-air electric tourer

The ever-present pressure exerted by increasing fuel economy and emissions standards is forcing automakers worldwide to re-examine their traditional internal combustion lineups. In order to gauge customer interest, Bentley brought the all-electric EXP 12 Speed 6e to the Geneva Motor Show. The drop-top concept shows Bentley's vision of an electrified future and what it envisions a battery-powered luxury touring car will be. Bentley believes any electric vehicle that wears the flying B should be as capable as the equivalent gas-powered model. That means London to Paris or Milan to Monaco on a single charge. Filling the battery should be effortless, which is why they want inductive charging, negating the need for cables. There is one for those times inductive charging isn't available. Most of all, the electric motors should supply effortless amounts of torque, just like the current lineup of Bentley eight and 12-cylinder engines. The interior of the EXP 12 Speed 6e is both futuristic and distinctly Bentley. High-quality leather and copper trim cover most services while a large OLED display houses most of the car's controls. The half-cut steering wheel uses glass elements embedded with various buttons and controls. The cut sections feature controls a performance boost and one for a speed limiter for use in urban areas. The copper elements continue outside, highlighting various trim elements around the car. When in motion, there is a large "6" that illuminates within the grille. The design is similar to the Continental GT prototype we spied a few weeks ago, which in turn takes elements from a previous Bentley concept, the EXP 10 Speed 6. It will be interesting to see how well customers receive the concept. Rolls-Royce brought out similar vehicle awhile back. Reception was icy, but the two automakers do have a different customer base. Related Video: Featured Gallery Bentley EXP 12 Speed 6e Concept: Geneva 2017 View 14 Photos Image Credit: Live photos copyright 2017 Drew Phillips / Autoblog.com Geneva Motor Show Bentley Convertible Electric 2017 Geneva Motor Show