2008 Lamborghini Gallardo Spyder 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

Lamborghini Aventador SVJ sets Nurburgring lap record

It seems everyone is out to claim a lap record at the Nurburgring. Having a car sit at the top of the Green Hell's lap board is huge point of pride for people. Just scroll through past Autoblog posts about the track. You'll find Porsche, Lamborghini and Nio all claiming lap records in different categories. The Dodge Viper used to hold the crown before falling to faster and more modern cars. There's speculation as to what might break the record in the future. Today, Lamborghini announced that the new Aventador SVJ has broken the production car record with a lap time of 6:44.97 minutes. That's a hair faster than the Nio EP9 lap time from last year. The Nio knocked off the then-new Lamborghini Huracan Performante, so we're sure Nio is eager to get back out and have another go. While the times from Lamborghini and Nio might be impressive, they're way off the actual lap record. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Just a couple of weeks ago, Porsche announced that its 919 Hybrid Evo — an unrestricted version of its Le Mans prototype race car — set a record of 5:19.546. That's nearly a minute and a half faster than road-legal cars. The Aventador SVJ was piloted by Marco Mapelli, a factory-backed race car driver. The car was fitted with cameras and VBOX telemetry equipment to measure and verify the lap time. The Aventador SVJ's record was teased earlier this month with a new video, though a video of the full record-setting lap has yet to be released. Expect something soon, as well as outside verification so we don't get the whole "Lamborghini cheated" back and forth that went on after the Hurcan set its record. Related Video:

Jay Leno holds Lamborghini showdown, compares Gallardo LP570-4 and LP550-2

Jay Leno's Garage welcomes two of our favorite Lamborghini models over for compare-and-contrast session, the Gallardo LP570-4 Superleggera and Gallardo LP550-2. Note, however, that these are the 2012 coupes, not the 2013 models with their revised front and rear fascias.
Leno likes the size of the Gallardo over the Aventador, and between the two siblings, his philosophy leans heavily toward the rear-wheel drive and superior comfort of the LP550-2. With the help of Andrew Romanowski of the Lamborghini Club of America, Leno goes through little-known details like the LEDs in the engine bay and the particulars that distinguish the two vehicles like the Alcantara, polycarbonate windows and lighter tires on the Superleggera.
Then, doing something that he would never do with human guests on his television show, he takes his favorite out for the driving segment and leaves the all-wheel-drive coupe at the garage to pout. You can learn a few things yourself and listen to Jay sing hosannas about the overall build quality and rear-focused power of the LP550-2 in the entertaining video below.