2014 Volkswagen Beetle 2.0t Turbo R-line on 2040-cars

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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.

Automakers drop support for Trump effort against California emissions

WASHINGTON — Toyota, Fiat Chrysler (now known as Stellantis following its merger with Peugeot) and other major automakers said on Tuesday they were joining General Motors in abandoning support for former President Donald Trump's effort to bar California from setting its own zero emission vehicle rules. The automakers, which also included Hyundai, Kia, Mitsubishi, Mazda and Subaru, said in a joint statement they were withdrawing from an ongoing legal challenge to California's emission-setting powers, "in a gesture of good faith and to find a constructive path forward" with President Joe Biden. The automakers, along with the National Automobile Dealers Association, said they were aligned "with the Biden administrationÂ’s goals to achieve year-over-year improvements in fuel economy standards." Nissan in December withdrew from the challenge after GM's decision in November shocked the industry and won praise from Biden. On Monday, the Justice Department asked the U.S. Appeals Court for the District of Columbia to put the California emissions litigation on hold to "ensure due respect for the prerogative of the executive branch to reconsider the policy decisions of a prior administration." Biden has directed agencies to quickly reconsider TrumpÂ’s 2019 decision to revoke CaliforniaÂ’s authority to set its own auto tailpipe emissions standards and require rising numbers of zero-emission vehicles, as well as Trump's national fuel economy rollback. Asked to respond to the automakers' action, White House climate adviser Gina McCarthy said in a statement that "after four years of putting us in reverse, it is time to restart and build a sustainable future, grow domestic manufacturing, and deliver clean cars for America." California Governor Gavin Newsom praised the automakers on Twitter for "dropping your climate-denying, air-polluting, Trump-era lawsuit against CA" and urged them to join the voluntary framework. TALKS WITH BIDEN Separately, an industry trade group on Tuesday proposed to start talks with Biden on revised fuel economy standards that would be higher than Trump-era standards but lower than ones set during the prior Democratic administration. The Trump administration in March finalized a rollback of U.S. Corporate Average Fuel Economy standards to require 1.5% annual increases in efficiency through 2026, well below the 5% yearly boosts under the Obama administration rules it discarded.

Cruze Diesel Road Trip reveals the good and bad, but no ugly

Most of us have strong opinions on diesel-powered cars based on our perceptions of and experience with them. I used to thoroughly dislike oil burners for their noise, smoke and lackluster performance, and the fact that they ran on greasy, smelly stuff that was more expensive than gasoline, could be hard to find and was nasty to get on your hands when refueling. Those negatives, for me, trumped diesel's major positives of big torque for strong acceleration and better fuel economy. Are any of those knocks on diesel still valid today? I'm not talking semis, which continue to annoy me when their operators for some reason almost never shut them down. At any busy truck stop, the air seems always filled with the sound – and sometimes smell – of dozens of big-rig diesels idling endlessly and mindlessly. Or diesel heavy-duty pickups. Those muscular workhorses are far more refined than they once were and burn much less fuel than their gasoline counterparts. But good luck arriving home late at night, or departing early morning, without waking your housemates and neighbors with their clattery racket. No, I'm talking diesel-powered passenger cars, which account for more than half the market in Europe (diesel fuel is cheaper there) yet still barely bump the sales charts in North America. Diesel fuel remains more expensive here, too few stations carry it, and too many Americans remember when diesel cars were noisy, smelly slugs. Also, US emissions requirements make them substantially more expensive to certify, and therefore to buy. But put aside (if you can) higher vehicle purchase and fuel prices, and today's diesel cars can be delightful to drive while delivering much better fuel efficiency than gas-powered versions. So far in the US, all except Chevrolet's compact Cruze Diesel come from German brands, and all are amazingly quiet, visually clean (no smoke) and can be torquey-fun to drive. When a GM Powertrain engineering team set out to modify a tried-and-true GM of Europe turbodiesel four for North American Chevy Cruze compacts, says assistant chief engineer Mike Siegrist, it had a clear target in mind: the Volkswagen Jetta TDI 2.0-liter diesel. And they'll tell you that they beat it in nearly every way. "I believe we have a superior product," he says. "It's powerful, efficient and clean, and it will change perceptions of what a diesel car can be." The 2.0L Cruze turbodiesel pumps out 151 SAE certified horses and 264 pound-feet of torque (at just 2,000 rpm) vs.