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Volkswagen profit jumps as it warns of a cooling auto market

FRANKFURT, Germany — Volkswagen says its profits jumped 44% in the third quarter thanks to a more profitable mix of vehicles in its lineup but warned that global car markets are slowing more than expected and lowered its forecast for annual sales. After-tax profit rose to $4.42 billion (3.98 billion euros) as revenues rose 11% to $68.27 billion (61.42 billion euros). The sales margin of 7.8% exceeded the goal of 6.5-7.5% as vehicles bringing higher profits took a larger share of sales. The Wolfsburg-based automaker pointed to the headwinds facing the industry by saying that it expects "vehicle markets will contract faster than previously anticipated in many regions of the world." It said sales would be "on a level" with last year's record of 10.8 million vehicles. Previously it had expected a slight increase. The company said its profits would be in the lower end of its forecast range. Global automakers are facing a slowdown in sales amid disputes over trade and from pressure in the European Union and China to develop and sell low-emission vehicles that require heavy investment in new technology. Ford and Renault have issued profit warnings in recent days, while Daimler, maker of Mercedes-Benz luxury cars, lost money in the second quarter and is expected to outline a cost-cutting strategy for investors on Nov. 14. Volkswagen is leading the push into electric vehicles in Europe by launching its ID.3 battery-powered compact car at prices it says will make zero local emission vehicles a mass phenomenon. The company was able to increase earnings in the quarter despite an 18% rise in spending on research and development.

Magnus Walker soliloquizes in his Porsche 911 at night

Magnus Walker, a prolific Los Angeles clothing designer who has also carved out a respected spot for himself in Porsche world, has had yet another video made about him and his sizable Porsche collection. In this latest video, Hong Kong-based Obscura magazine focuses its video cameras on Walker and his 1971 Porsche 911 track car (yes, the one that appeared on Jay Leno's Garage) as he speeds around Downtown LA and Little Tokyo late at night.
We've heard Walker's story many times before. He's not like the average Porsche owner, perhaps a tad more passionate than most, and he builds 911s like he designs clothes: his way. Sure, we might be a little envious, but can you blame us? View this very slick and entertaining nighttime video entitled Disturbing The Peace below.

Watch Jeff Zwart drive his Porsche GT3 Cup Turbo at Pikes Peak in 4K

There are always fantastic videos documenting the Pikes Peak International Hillclimb, but 2015 is giving us an embarrassment of riches. After seeing clips from some of the record-breaking runs this year, possibly the very best is here somewhat belatedly after the rally. Watching master Porsche pilot Jeff Zwart wind his fire-breathing 911 GT3 Cup Turbo up the mountain was definitely worth the wait. Already no stranger to success at Pikes Peak, this year Zwart won the Time Attack 1 Class with a run of 9:46.243. To make the feat more exciting, his Porsche was outfitted with cameras to perfectly capture his entire race up the course. The external shots truly convey a sense of speed and show how the mountain goes from tree-lined at the bottom to rocky with patches of snow at the top. The film's sublime production shouldn't be too big of a surprise, though, because Will Roegge was director, editor, and among the camera operators for the video. In 2014, he put together a great, short documentary about Zwart's preparation for the mountain and the run, as well. This year was yet another success. At a breezy 4.5 minutes, this clip is definitely a must-see, and the entire thing looks and sounds fantastic no matter how your experience it. However, if you have the capability, the video is also available in 4K. Switching over to the high resolution really makes it possible to pick out all of the gorgeous details. Related Video: