2002 Porsche Boxster S Type Convertible ** Low Miles ** Many Extras ** By Dealer on 2040-cars

Auto blog

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.

Watch Larry Kosilla resurrect the finish of this barn-find 1966 Porsche 912

Larry Kosilla, the founder of the Ammo NYC line of car cleaning products, has his own show YouTube's Drive network - we saw his work before when he gave a Ferrari 288 GTO a two-day detailing job. On this episode, Kosilla gets called in to do his best with a 1966 Porsche 912, a car that was last registered in 1990 and recently found in a barn in Connecticut.
Among the expected dirt and cobwebs, the Irish Green Porsche is also covered what is assumed to be cat fur and "waste." The car is in such delicate condition, however, that Kosilla can't wash it for fear of getting more water in it than on it, so he has to steam and wipe the entire thing down before he begins the paint correction process. In addition to the thorough knowledge of his work and his ability to explain it simply, the episode is captioned with further information one of Porsche's popular but less regarded models, and how Kosilla does what he does.
You'll find a compelling 29 minute masterclass in the video below.

Despite premium carmakers going downmarket, luxury auto sales stick at 10-11%

According to research conducted by global information company IHS Automotive, the leporine birthing of new models by luxury manufacturers over the past six years hasn't increased their market share in the US. Even as car sales reached 15.6 million units, IHS says what's happened instead is that luxury buyers are merely moving from one brand to another, moving from larger luxury vehicles into hot segments like compact luxury crossovers or leaving the market at the same rate as other buyers enter.
Whether broken out by makes or by segment, market share has rollercoastered inside a narrow band from 10.5 to 11.5 percent since "at least" 2008. Closer investigation reveals the shifting boundaries in the aspirational pond, with brands like Mercedes-Benz and Audi gaining territory as Lexus and Lincoln lost it, and Saab and Hummer were buried, dead, under it. One neat note is that Tesla has gone from a share of zip to .12 percent.
The subcompact and compact crossover segments show growth, with those little high-riders jumping from .3 percent to 1.16 percent of overall industry sales. Their rise, though, is concomitant with the decline of four other segments: compact and midsize cars and fullsize cars and SUVs. We think the next few years that will tell if the small-car expansion can overcome the large-car retraction, with a phalanx of smaller offerings like the CLA only recently hitting the market and others like the GLA, Macan and Q1 doing so in the near future.