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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.

The List: Best of Scenic Drives

The List hosts Jessi Combs and Patrick McIntyre have gone on some incredible scenic drives throughout the series, including a drive through the Italian Alps, a cruise on the Pacific Coast Highway, and winding their way across the Tail of the Dragon. Here's a look back at some of our favorite moments of scenic driving. If you like what you see, stay tuned to watch the full episodes, or click here to go directly to our episode archive and pick out some of your own favorite moments of The List to revisit. The List #0100: Drive the Italian Alps The List #0567: Drive The PCH The List #0011: Drive the Tail of the Dragon Have an RSS feed? Click here to add The List. Click here to subscribe to The List in iTunes. Click here to learn more about our hosts, Jessi and Patrick. Bentley Maserati Porsche Driving Convertible The List Videos Original Video

1985 Porsche 911 rally-style classic to be auctioned for good cause

Porsches are supposed to inhabit race tracks, winding roads, and wide, flashy boulevards, right? Not all of them. Take this 1985 911 Carrera, which was has been converted into a rally-style toy that we'd love to sample on a dusty, tree-lined section of dirt. Nicknamed #Luftauto, this lovely 911 is being auctioned off by RM Sothebys during Luftgekuhlt, an event dedicated to air-cooled Porsches and put together in part by Porsche racer Patrick Long. The car has been extensively modified, both aesthetically and in terms of outright performance. We're digging the 15-inch Braid wheels, custom rally lights, and an Auto Foreign Services roof rack on the exterior. The cabin gets a custom rollbar, but it's the driver interfaces we're really drooling over – there's an OMP steering wheel and a CNC-milled shift knob made of walnut and maple, while driver and passenger will be kept in their fancy Recaro seats by Schroth Rallye harnesses. The limited tweaks to the numbers-matching, 3.2-liter flat-six – the headers and exhaust have been swapped with SSi units – do wonders for the Porsche's already impressive soundtrack. The engine isn't a new unit, of course, but it's fresh off a major round of service. There are ample suspension mods, too, with a custom-designed KW setup and long-travel dampers. A cool car being put up for auction is exciting enough, but the profits from #Luftauto are going to something even cooler – cancer research. In particular, the money made will be donated to the Autumn Leaves Project, a charity that's dedicated to battling pancreatic cancer. For those not familiar, pancreatic cancer is one of the most despised, merciless forms of cancer around, infamous for its ability to remain undetected until it's far too late to combat. It's a truly hateful disease. You can check out #Luftauto in action in the video up top. It crosses the block on April 10 in Los Angeles. Additional details can be found at the Luftgekuhlt website. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.