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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.

Watch 14 hot rides take over concept car lawn at Pebble Beach

The Pebble Beach Concours d'Elegance is an annual celebration of the beautiful, old cars that grace Monterey Car Week. But Monterey – and Pebble – features lots of newer metal, too, and that includes the concept lawn at Pebble Beach. Now, "concept lawn" isn't a totally accurate name anymore, and you'll see why in the list below. This year especially, plenty of production cars can be found in the area once reserved for the conceptual. Still, we're happy to see them. Here's what's featured this year: Alfa Romeo 4C Spider Audi R8 BAC Mono Bentley EXP 10 Speed 6 BMW 3.0 CSL Hommage R Buick Avenir Galpin-Fisker Rocket Speedster Hyundai HCD-16 Vision G Coupe Icona Volcano Infiniti Q60 Lamborghini Asterion LPI 910-4 Maserati Ghibli McLaren 570S Rolls-Royce Wraith By our count, that's seven concepts out of fourteen cars. But it still makes for one hot group of metal. Check 'em out in the gallery above. Related Video: Related Gallery 2015 Pebble Beach Concept Car Lawn View 38 Photos Image Credit: Copyright 2015 Drew Phillips / AOL Design/Style Alfa Romeo Audi Bentley Buick Infiniti Lamborghini Lincoln McLaren Porsche Concept Cars Videos Original Video Pebble Beach

Porsche opens new HQ, experience center in Atlanta

Next time you're flying into the Hartsfield-Jackson Atlanta International Airport, keep an eye out for some great architecture with sports car racing around it. Porsche just spent $100 million, its largest investment ever outside of Germany, to open a new Experience Center and headquarters on the Northeast corner of the airport. The 27-acre site is designed for both work and play, and it's a Porsche fan's dream. The high point for drivers is the 1.6-mile Driver Development Track. The course includes six distinct sections, like an off-road course to get muddy and the only Kick Plate in North America to practice hanging the car's tail out. When not speeding around, visitors can check out the brand's classic cars on display and some art inspired by those machines. There's also a conference center and a place for fine dining called Restaurant 356. Porsche expects 30,000 people a year to check out the new site. Porsche Cars North America has been headquartered in Atlanta since 1998. However, the new construction puts many of its divisions under one roof, including the people working in financial services and consulting. Editor-in-Chief Mike Austin is visiting One Porsche Drive right now, and reports that the company is also building an experience center in Los Angeles and a flagship dealer in New York. Porsche is also working on experience centers in Le Mans and Shanghai, with plans to expand into Moscow and Istanbul, as well. Get a good look at the whole site in the gallery above. Related Video: Porsche Opens New $100 Million Experience Center and Headquarters in Atlanta News Release May 7, 2015 No. 55/15 Largest investment for Porsche outside Germany features industry-first facility in North America complete with dynamic track, classic car gallery, restoration center, event space, and fine dining restaurant Atlanta. Porsche Cars North America today officially opened its new $100 million Porsche Experience Center (PEC) and headquarters in Atlanta. The 27-acre complex located at the Northeast corner of Hartsfield-Jackson Atlanta International Airport is the largest investment ever outside Germany for the sports car manufacturer. The industry-first facility is complete with a driver development track, classic car gallery, restoration center, human performance center, driving simulator lab and a fine dining restaurant. A state-of-the-art business center features 13,000 square feet of conference and event space.