2012 Bugatti Veyron on 2040-cars

Auto blog

Volkswagen posts quarterly profit despite drop in sales

Volkswagen returned to profit in the third quarter as surging Chinese demand for luxury cars helped offset a 1.1% drop in vehicle deliveries due to the pandemic, sending its shares as much as 3% higher on Thursday. The German automaker's return to the black comes amid spiking coronavirus cases in Europe that led governments in France and Germany to order their countries back into strict national lockdowns on Wednesday. "The coronavirus remains a central problem," Volkswagen Chief Financial Officer Frank Witter said in a conference call with reporters. "This situation now is anything but relaxed." But Witter said the group expected the economic recovery to continue and did "not anticipate any nationwide lockdowns in larger markets." Witter said the takeover of U.S. truck maker Navistar International by Volkswagen's trucking unit Traton was an important acquisition, but the "current economic climate will not make this easy." Volkswagen reiterated it expects to post a profit for the full year, saying its business "recovered noticeably" in the third quarter as sales in China of premium vehicles, including Audi and Porsche sports cars, rose 3%. The quarterly performance was also aided by a series of cost-cutting measures launched earlier this year. Volkswagen said its net liquidity rose to 24.8 billion euros from 18.7 billion at the end of the second quarter. Excluding one-time items, third-quarter operating profit was 3.2 billion euros ($3.8 billion), down from 4.8 billion euros a year earlier, but up from a second quarter loss of 1.7 billion. In a note to clients, Jefferies analyst Philippe Houchois described the results as a "solid performance with strong cash, but relatively muted in the context of the (auto) sector recovery." Last week, German rival Daimler reported a record 24% jump in Chinese demand for its Mercedes-Benz cars, boosting its margins in the third quarter. Italian-American Fiat Chrysler Automobiles and Peugeot manufacturer PSA Group both also posted solid results this week. Witter said Volkswagen could not say for sure whether it would meet EU CO2 emissions targets this year, adding "it will be a tough race." At 1030 GMT, Volkswagen shares were up 2.9% at 129.20 euros. Related Video: Earnings/Financials Audi Bentley Bugatti Lamborghini Porsche Volkswagen

Bugatti teases Chiron again, shows and tells us nothing

The television spots Infiniti released in the eighties for the original Q45 still carry the torch for arcane teaser commercials, but Bugatti might try to steal some of that light this year. The Franco-German automaker released a 41-second teaser video for the Chiron with quick-cut shots of just about everything except the supercar. The fighter jet, the volcano, even the guy running on top of the sideways skyscraper we get, since the tagline is "Breaking new dimensions." But the elevator and the drummer? We already know the rumor that it's going to break the Veyron Super Sport's terminal velocity, hitting something above 290 miles per hour. Continuing the theme of tweaks that advance the entire package, it's been reported that an analog speedometer will keep track of that vitesse with hash marks running all the way to 500 kilometers per hour, taking the place of the centrally-placed tachometer. Cabin ergonomics should take a step up, while a larger windshield will improve visibility, and the seating position moves outward to become more conventional. Oh, and since the car is named after French auto racer Louis Chiron and not the mythological Greek centaur, it is pronounced Shir-on, not Kai-ron. You can check out the latest teaser in the video above - at 41 seconds, the spot is about a second less than the time it took the standard Veyron to hit its top speed. Related Video:

Bugatti previews what looks like a W16-powered race car

Bugatti captured our attention when it released an image of an enigmatic new model whose rear lights form an X. We still don't know exactly what we're looking at, but a photo of its powertrain sheds light on what's coming. Significantly, the digital rendering shows the car is built around the quad-turbocharged W16 that powers the Chiron. An earlier report speculated it would be electric, and that's evidently not the case. The engine is mounted directly behind the passenger compartment, and the transmission it's bolted to seemingly spins the four wheels. We also see a rectangular steering wheel, a pair of carbon fiber bucket seats, and center-locking wheels covered by carbon fiber discs. All of these parts look like they belong in a race car, but Bugatti is keeping additional details under wraps. "What if...?" again appears on the photo, so we're expecting something out of the ordinary.  An earlier teaser showing the number 0,67 also asked more questions than it answered. Europeans use a comma instead of a decimal, so there's a strong chance we're looking at 0.67. It's far too high to be the car's drag coefficient; keep in mind the original Land Rover Defender had a 0.59 drag coefficient, and the rear-engined Volkswagen Beetle posted 0.48. If this is indeed a track car, is it 0.67 seconds quicker than the Chiron around a given track? It's possible but unlikely, because that's a rounding error at best regardless of whether we're talking about the Circuit de la Sarthe, the Nurburgring, or Suzuka. 0.67 seconds quicker to 60 mph is plausible.  Is it a one-off, or a limited-edition model? If it's the latter, are there any build slots left? Your guess is as good as ours. All of our questions will be answered when the mysterious car makes its global debut online tomorrow, October 28, at noon Central European time, which is 6 a.m. on the East Coast and 3 a.m. in California.