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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.

Fast doesn't begin to describe it | 2017 Bugatti Chiron First Drive

Long after the heat of the moment, I pull off the highway in rural Portugal and glance at the Bugatti Chiron's center console. As the engine cools and the carbon silicon carbide brake rotors start to dissipate heat, the onboard computer's telemetry reveals some staggering figures: A peak speed of 377 km/h (do the math, and that's 234 mph), with the quad-turbocharged W16 squeezing a max of 1,466 horsepower at 6,691 rpm. Did I just drive a car or fly a plane? The mind-boggling brain shuffle of Bugatti's latest land rocket cannot be understated, even when placed in context against the now-defunct Veyron. In ultimate Super Sport trim, the Veyron produced a stunning 1,200 (metric) horsepower. The Chiron's leap to 1,500 ponies required considerable development, testing, and re-engineering. That exhaustive process saw significant challenges, even late in the game. Consider the high-speed testing incident in South Africa: despite extensive test-bench work, real-world driving revealed that the immense exhaust heat was melting the rear bumper and nearly igniting the car. The solution, it turns out, was to add a duct so airflow from the underbody could channel through and diffuse the heat. Hashtag: #1500HorsepowerProblems. For the 500 wealthy souls who will take delivery, the $2,998,000 Chiron is most certainly an emotional purchase. But it's backed by a battery of left-brain thinking aimed at making it a quicker, smoother, more involving car than its famously controversial predecessor. For starters, only five percent of the engine's parts are retained from the Veyron, the bulk of the new parts getting strengthened, lightened, and re-engineered to better cope with the thermal demands of the heightened output. The four turbochargers are 68 percent larger and now work sequentially so the first set can facilitate a torque plateau between 2,000 and 4,000 rpm. The larger, second set of turbos extend the flat line to 6,600 rpm. The seven-speed gearbox manufactured by Ricardo, which is essentially the only dry-sump dual-clutch on the production car market, has been strengthened and reinforced to withstand the engine's thumping 1,180 pound-feet of torque. The immense drivetrain is housed by a carbon-fiber chassis by Dallara that requires 1,500 hours to build. The Chiron also gains an adaptive chassis that uses five drive modes to set ride height, steering effort, damping, and power distribution.

A revving Bugatti Chiron is our new favorite sound

The new Bugatti Chiron has an 8.0-liter, quad-turbocharged W16 engine that produces about 1,500 horsepower. We desperately want to drive it, but as that doesn't look like it's going to happen for a while, the best thing we can do is just sit and listen to that powerplant. We've said it before, and we'll say it again, the Chiron sounds like an absolute monster. Of course, you've heard the Chiron already. Bugatti fired it up on the Geneva Motor Show stand, and more recently, it was caught being unloaded and driven into a dealership in – where else? – Monaco. What makes this video different is that rather than just angrily idling away, the lucky guy behind the wheel actually revs the huge engine a few times. It still doesn't compare to actually hearing the Chiron under load – get on that Bugatti – but this latest taste of the new hypercar showing off its singing voice will have to do. Related Video: