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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.

NYT profiles Blue Nelson, a reclusive and interesting CA car collector

If it weren't for his Dale Earnhardt Sr. looks, Blue Nelson could be one one of those soft-spoken, nondescript guys whom you meet briefly and never learn much more about. However, as The New York Times shows in a recent profile and video, behind closed doors, Nelson keeps a fascinatingly eclectic collection of automotive oddities and vintage bicycles.
While his main career is in the movie industry, Nelson's other job is as a car hunter. He takes on clients searching for a specific model and helps them find and restore the dream vehicle that they're after. Hiring him takes some dedication, though, because Nelson doesn't advertise his services. "If people want to find me, they know how to find me," he says in the video.
Beyond being an automotive private detective, Nelson has a fantastically varied collection of vehicles of his own. He likes to have models that people don't usually see, and his garage holds a classic Chrysler New Yorker and an extremely rare Rometsch convertible. Although, the one that means the most to him is the 1962 Porsche 356 convertible that Blue came home in as a baby. Check out the video to learn more about Nelson and his philosophy about forming a bond with a car.

2017 Porsche 911 Carrera experienced from the passenger seat

Autoblog joins Porsche for Rennsport Reunion V at Mazda Raceway Laguna Seca, the fifth international gathering of all things Porsche. If you've ever had a picture of a Porsche on your wall or dreamed of owning a certain model, either that very car or one just like it is here. Watching three 917 racers blaze over the rise at the front straight and down into turn one can make a viewer think, "So this is how Steve McQueen felt..." It was a modern Porsche that delivered one of the highlights of the first day, though: we rode shotgun for three hot laps of the track in the new turbocharged 991.2-series 911 Carrera S, with Thomas Krickelberg, director of powertrain for the 911 model line, our pilot. We cornered him and August Achleitner, vice president of the 911 product line, for a few questions about the changes. What do you call the standard 911 now that it has turbocharged engines? Carrera. If you're wondering what to call the standard 911 now that they have turbocharged engines, the answer is: Carrera. Krickelberg said, "In-house we call them 'little turbo' and 'big turbo,'" but the Carrera is a model line within the 911 model line, the big boy 911 Turbo is a second model line within the 911 family. One will continue to be called Carrera, the other simply Turbo. The move to turbocharging came to serve the twin kings of performance and fuel economy, but engineers played around with numerous configurations. A non-turbo engine displacing about 4.0 liters – that's as big as the 9A1 engine block can go – was considered, but that setup couldn't deliver the desired fuel efficiency. Krickelberg said engineers considered a small-displacement block of around 2.0 liters, but that was abandoned because "takeoff behavior was worse" because the turbo was called upon to do too much of the heavy performance living. Krickelberg added, "Not only that, but there was a too big a gap between real-world fuel economy and homologation fuel economy." Base Carrera and the Carrera S models haven't used the same engine displacement since the 996 series departed at the end of 2004. Achleitner said, "We found 3.0 liters is the best solution to get the best mix of fuel and air in combustion chamber - it offered the best geometry, bore and stroke, and the size of the walls.