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Audi CEO says brand's EVs are almost as profitable as its other cars

After, oh, a hundred years or so of building vehicles primarily powered by internal combustion engines, automakers around the world have been and still are pumping billions of dollars into the development of electric vehicle technology. Everything from platforms and batteries to motors and the software to control it all requires untold hours of development, and that takes time and money. Fortunately, it's not going to take long for that massive investment to start paying off, at least according to Audi CEO Markus Duesmann, who told Reuters in an interview that "The point where we earn as much money with electric cars as with combustion engine cars is now, or ... next year, 2023. They are very even now, the prices." As a brand, Audi contributed more than a quarter of overall profit for the massive Volkswagen Group, which has such powerhouse brands as Volkswagen and Porsche among others. Under the Audi umbrella are Lamborghini, Bentley and Ducati, and it seems those high-end branches aren't going anywhere, at least for now. "These brands ... are very valuable very profitable brands, where we can even expand the synergy level in the future," Duesmann said in the interview. "There are no plans whatsoever to get rid of them." Despite the overall profitability of the brand, the ongoing global chip crisis is causing headaches. "We had a very strong first half in 2021. We do expect a much weaker second half," said Duesmann, who added, "We really have trouble." In fact, so serious is the trouble that the brand is forced into "a day-to-day troubleshooting process" to limit the chip-shortage damage. The good news for the automaker is that Audi has been able to boost its profit margin from 8% prior to the pandemic in 2019 to 10.7% in the first half of 2021. The bad news is that various chip shortages aren't expected to get a whole lot better over the rest of the year. Related video:

Aston Martin renames Vantage GT3 after Porsche throws hissy fit

Porsche has a long history of using the name "GT3" for its hardcore, naturally aspirated 911 models, and that means it's certainly not going to share it with the likes of Aston Martin. See, it seems the arrival of the Aston Martin Vantage GT3 at the 2015 Geneva Motor Show didn't sit well with Stuttgart, which opted to lawyer up. According to Goodwood Road and Racing, attorneys from both sides of the Channel have been in discussion for months over the issue, with Porsche arguing it's been using the GT3 name since 1999, and that makes it theirs. Aston, though, argues that the FIA GT3 racing series makes the name fair game for road cars. Moreover, the Brits point out that the alphanumeric was in use well before Porsche got its mitts on it – GRR rightly points out the Lotus Esprit GT3 hit the streets three years before the 996 GT3. And while we're on the subject, Bentley has its own GT3, but we're guessing its status as one of Porsche's siblings means its immune to this kind of squabbling. Rather than getting into a knock-down, drag-out courtroom brawl with one of the Volkswagen Group's prized brands, though, Aston has taken the high road. The company will rechristen both the road-going Vantage GT3 and Vantage racer as the GT12. While Porsche is no stranger to aggressively protecting what it views as its closely held vehicle names, we have to admit, it seems like Aston actually has something of a case. Do you think the Brits were right to settle and change the Vantage's name, or should they have taken the fight to Porsche? Have your say in Comments.

Porsche goes Platinum with special edition Cayenne

The other day, Porsche announced a new special edition of the Cayenne. We didn't pay it much heed because it appeared to be exclusive to Europe (or, at least, markets other than ours), but now Porsche has announced its availability in North America, as well.
It's called the Platinum Edition, and it's available exclusively on the entry-level models with either the 3.6-liter V6 or 3.0-liter turbodiesel V6. You can tell the special edition apart from any other Cayenne by the silver details (accenting the grilles, window trim and rear spoiler) and its two-tone black and beige leather interior. But what makes it a compelling choice is the long list of equipment, which Porsche has identified as the most requested options and fitted them as standard, including the eight-speed Tiptronic S transmission, Power Steering Plus, Park Assist, Convenience Package and Bose audio.
Pricing starts at $63,300 for the Cayenne Platinum Edition, or $66,900 for the Cayenne Diesel Platinum Edition. That represents a premium of approximately $13,000 over a bone-stock model, but actually saves you a few grand if you were going to select all those options anyway. Check out the press release below for all the details.