1989 Red Lamborghini Kit Car Great Condition Runs Well Engine Transmission Break on 2040-cars

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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

Leno stretches Lamborghini Diablo's legs for latest Garage installment

While posters of the Lamborghini Countach decorated the walls of many boys' walls in the 1980s, the Diablo filled that spot for young men in the early 1990s thanks to its extreme styling. In its latest video, Jay Leno's Garage welcomes a beautiful, white 1991 Diablo into his garage for a look back on what is now a classic supercar.
Unlike some of the vehicles Leno shows off, this one doesn't belong to him. Instead, veteran Italian car mechanic Franco Barbuscia owns it. He has been maintaining Jay's Countach for years. A '91 Diablo is an archaic supercar by today's standards. It doesn't have power steering, anti-lock brakes or obviously anything like traction control. It's just a big V12 hanging behind the driver with a wonderfully meaty roar that emanates from the exhaust.
Franco's Diablo might actually be better than new. It has a few upgrades to aid in drivability, like re-spaced pedals, a carbon-Kevlar clutch and more. Apparently all of the tweaks help a lot because, "it rides smoother than my Carrera GT," Leno enthuses about the car. Scroll down to reminisce about this Italian classic and get an ear full of its wonderful sound.

Lamborghini gets barbecued at St. Louis gas station

Life is good when you're behind the wheel of a bright blue Lamborghini Huracan. Or at least it is up until the moment a forgetful minivan driver drives off with the fuel filler nozzle still attached. The result, at a gas station in St. Louis, was a spray of fuel, spilled directly onto the Lamborghini's engine bay, which instantly ignited and turned the supercar into a fireball. As reported by the Riverfront Times, the blue Huracan was actually one of two Lamborghinis, the other being an orange Gallardo, that had stopped to refuel. This video shows the exact moment when the minivan driver pulls away and the fuel hose separates from the pump. Careful if you're watching this at work, or have kiddies present, because some of the language is, well, also incendiary. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Then again, if you're in the middle of seeing gallons of fuel being sprayed directly onto a supercar's hot-running V10 engine, we doubt you'd wax poetic about the experience. And due credit to the Riverfront Times for its headline proclaiming "Incredible Dumbass Turns Lamborghini into Fireball at St. Louis Gas Station." It might not earn a Pulitzer, but kudos for nailing the story in one line, folks. Apparently and, somewhat amazingly, no one was reported hurt in the ensuing fire. The Lamborghini is definitely a total writeoff, but amazingly, the accompanying red Performante was just covered in ash. And according to this same Facebook post, the minivan driver was quickly found and admitted to being the culprit. Update: A previous version of this post incorrectly identified the blue Lamborghini Huracan as a Gallardo. The text has been corrected. Additional photos and video have also been embedded. Related Video: Weird Car News Lamborghini Minivan/Van supercar wreck gallardo