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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.

Porsche 911 GT3 RS facing delay over GT3 fire problems?

Porsche has never been afraid to introduce variants of its cars. However, its even higher spec, next-generation 911 GT3 RS may be delayed from its planned launch this summer while the engines in the standard GT3s (pictured above) are replaced.
A delay isn't certain, but executives want to make sure the high-strung mill is no longer a problem before they press forward with another model using it. Germany's Auto Motor und Sport asked Porsche CEO Matthias Müller about pushing back the launch, and he responded that it was too early to say. The company's current focus is making sure the engines get fixed and working on internal measures to prevent this kind of flaw in the future.
When fires claimed two 911 GT3s in Europe, Porsche initially stopped the model's sales and asked owners to stop driving them. It finally diagnosed the blazes as being caused by a loose screw on a connecting rod, which then resulted in crankcase damage and an oil leak. The company is replacing the engines on all 785 affected cars. A source told Autoblog that under 200 customers were actually affected, and the other cars were either at port or dealer lots. Hopefully, the recall doesn't postpone the road-going GT3 RS too far because we want to see what Porsche has up its sleeve.

Porsche celebrates 50 years of 911s with limited edition model

Despite being 50 years old now, the Porsche 911 sure is looking good for her age. And to commemorate this milestone anniversary, Porsche has created the 911 50 Years Edition you see here, which will make its debut at the 2013 Frankfurt Motor Show - 50 years after the original 911 debuted at this very same expo.
What's really neat about the 50 Years Edition is that it houses a rear-wheel-drive setup inside of the wider body used for all-wheel-drive Carrera 4 and 4S models. Found at the back is the 3.8-liter flat-six from the Carrera S, upgraded with the Powerkit package that increases horsepower from 400 to 430 and includes the Sport Chrono setup. According to Porsche, hitting 60 miles per hour takes just 4.2 seconds with the seven-speed manual transmission, or 3.8 seconds with the optional dual-clutch PDK.
Visual changes include two special paint colors - a darker graphite grey and a lighter geyser grey - unique 20-inch wheels that pay homage to the original Fuchs rollers of the 1963 car, and special badging at the rear and on the door sills. Inside, there are more throwbacks to the original 911, with green labeling on the instruments, white pointer needles and silver accents. What's more, the leather seats feature a fabric insert reminiscent of the Pepita design from the '60s. Looks great to us.