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Lamborghini Urus Superveloce on the table, Asterion off

Last year Lamborghini revealed the Asterion concept at the Paris Motor Show, showcasing a new design on the surface and hybrid technology underneath. Months later, the possibility of the Asterion entering production was still reportedly on the table, but at this point the Bolognese automaker has other priorities. The company is in the midst of a massive expansion of its production facilities that will not only see it generating its own power, but also adding a new assembly line to double its output with an entirely new model. That, of course, will take the form of a crossover closely previewed by the Urus concept of 2012. But the initial version might only be the tip of the proverbial iceberg. Although additional body-styles might not suit the Urus as well as it would have the Estoque (had Lamborghini gone with the four-door, front-engined sedan design instead of the crossover), the Urus could lead to a range of engine specs and orientations. "We have more than enough ideas, but it is too early to confirm anything," Lamborghini chief Stephan Winkelmann told Autocar. "All options are possible, and we will work on evaluating them in the run-up to launch. If our customers want to see something, we'll do our best to meet their needs." Considering what Lamborghini has done with its supercars, we could see an even higher-output, more performance-focused version to follow – like the latest Superveloce version of the Aventador (soon to be applied to the Aventador roadster, as well). Theoretically, that could be an Urus SV. Though the Huracan has so far (aside from racing versions) only been shown in its initial form, the preceding Gallardo resulted in more model variants than we'd care to count. In addition to a possible hybrid version, the Urus (or whatever it's ultimately called in production form) could lead to an ultra-luxury version at the other end of the spectrum. What's clear is that the Urus program is going to keep Lamborghini busy for some time to come. And while we're expecting more versions of the Huracan to follow in due course, the possibility of putting the Asterion (or some version thereof) into production as well is apparently off the table for the time being. Considering that by the time it reaches production, it will have been a good six years since the Raging Bull marque first showcased the Urus concept, the Asterion could be kept on the back burner for several more years to come.

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

Maserati and Lamborghini pull out of Iran

Daimler is out, Toyota is out, Porsche is out, Hyundai, PSA Peugeot-Citroën are out and when it comes to selling cars in Iran, now Maserati and Lamborghini are out, too. The definitive pullouts of those last two automakers are said to be reactions to a press conference held by a group called United Against Nuclear Iran (UANI). The group highlights businesses that sell in both the US market and Iran, and works to get those businesses to choose one market or the other.
UANI said it had sent letters to Maserati and Lamborghini about their dealings in Iran, but that the letters went unanswered. Mark Wallace, head of UANI and a former US ambassador to the United Nations, held a press conference in October of last year that referenced the two companies. Apparently Lamborghini contacted Wallace just after the press conference and told him "they were out, they weren't doing any business in Iran anymore."
Discussions with Maserati then took place, and the Italian automaker said it had been out of Iran ever since Fiat announced it was leaving the country in May 2011. UANI said Maserati had been in talks with an Iranian distributor, however, and that distributor was continuing to use the Maserati name. The carmaker has since cut all ties with Iranian interests and has prevented its name from being used, adding that its new models will not be able to be sold there because they won't pass regulations the country's regulations.