2017 Lamborghini Huracan 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

Party sponsored by Lamborghini tried to airlift yacht into Austin lake for F1 race

This was the kind of understatement we didn't expect to encounter in the Lone Star State: on our way into Austin to attend the Grand Prix of the Americas, the man sitting next to us on the plane - an Austinite born and raised - said, "There's gonna be a lot of wealthy people here." You know, as if Texas didn't have its fair share already.
Wealthy people need wealthy things to do and not-as-wealthy people to arrange such things for them. Case in point is My Yacht Club, which follows the Formula 1 parade and other rah-rah events around the globe, hosting guests and parties on yachts. In Austin the event group has had to change its schtick; there's no way to navigate one 150-foot motor yacht into Austin's Lady Bird Lake. MYC principal Nicholas Frankl told KUT News, "We spoke to the Army Air Corps. They couldn't lift it." We believe he meant the Army Corps of Engineers, but no matter, they couldn't lift it either.
So MYC has switched to a land-lubbers venue, The Long Center where Ballet Austin, the opera and the symphony perform. In case you readers are worried about how guests will manage without chiseled Italian deckhands in epaulets, not only has Frankl promised that "the elements of decadence and luxury and coolness and exclusivity are all there," guests will get to guzzle 24-karat gold-infused champagne. Because the stars at night just aren't as big and bright without it, obviously.

2016 Lamborghini Huracan LP 580-2 First Drive [w/video]

The most enjoyable – not necessarily the "best" or "fastest" – driving machines permit latitude with their exactitude, using ruthless precision to support a driver's personal style instead of smother it. Very few cars get it right. The Porsche 911 GT3 is one that does. Add the Lamborghini Huracan LP 580-2 – the new rear-wheel drive variant of the all-wheel drive Huracan LP 610-4 – to the short list. To get a sense of how the rear-drive car stacks up, let's revisit our impressions of the all-wheel version. We drove the LP 610-4 at Laguna Seca back in May for the brand's Intensivo driving school, and two idiosyncracies stood out. The first is that it ticked around corners like the second hand on a watch. That's great for an autocross, pivoting through cones like a Tron lightcycle. But on a circuit, you want the freedom to find your own best way to move the machine around the track, and the all-wheel-drive Huracan won't relent on its commitment to ultimate precision. You aim at grace but you get mechanics – a robot trying to follow your instructions for dancing the Tarantella. The second peculiarity was that it squirmed under heavy braking, coming down from triple-digit speeds into a hairpin like a bull shaking off a swarm of flies. The timed run from 0-62 miles per hour is just 0.2 seconds slower than the 610-4. The LP 580-2 is the prescription to cure both symptoms. As the name attests, output drops from 602 horsepower to 572 hp and torque is reduced from 413 pound-feet to 398 lb-ft, all of it sent to the rear wheels. The timed run from 0-62 miles per hour is just 0.2 seconds slower than the 610-4. No mere devaluation of potency, engineers remapped the 5.2-liter V10's power and torque delivery so it's different from the AWD version. Power delivery is further differentiated between the 580-2's manual and automatic shifting, and it feels more linear when you're working the paddles. You need a fetish for grilles to spot the variance between this car and the all-wheel drive version. Designers reworked the strakes on the lower front intake and removed the hexagonal mesh ornamentation, so you peer straight at radiators. The corners of a larger rear grille cut deeper into the bumper. The badge ahead of the rear wheels says, "LP 580-2." The standard 19-inch wheels are of a new design called "Kari." Those are the visual differences. The cabin is identical.