2014 Volkswagen Jetta S 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.

Volkswagen rolls out all-new Polo R WRC

Volkswagen may have ruled out producing a road-going Polo more potent than the new GTI, but on the rally stage, the Polo R WRC has proven absolutely dominant. Introduced to the World Rally Championship in 2013, the Polo R won ten out of the baker's dozen rallies in its debut season, and all but one last year to win both titles two years running. That's quite an act to follow, and the task falls to the machine you see here. The new second-generation Polo R WRC was just revealed at Autostadt in Wolfsburg. The rally machine has been substantially reworked for 2015, with a new livery, new bodywork and new oily bits. In fact, Volkswagen says it has revised three quarters of the components, and while it has not yet detailed the "many new ideas [implemented] under the bonnet," it has identified the hydraulic gearbox as "the biggest innovation." Further details are still to come, but this is our first look at the new machine with which Sebastien Ogier, Jari-Matti Latvala and Andreas Mikkelsen – who finished last year's championship in first, second and third, respectively – will tackle this year's championship, starting with the Rally Monte Carlo on January 22-25. FIA World Rally Championship (WRC) New technology, new design: presenting the second generation Polo R WRC - World premiere of the 318-hp Polo R WRC in Wolfsburg - Member of the Board, Dr. Heinz-Jakob Neusser, launches title defence - WRC kicks off with the iconic Rally Monte Carlo from 22–25 January Wolfsburg (15 January 2015). In top form, both technically and visually: Volkswagen presented the second generation of the Polo R WRC in Autostadt, Wolfsburg. The works team from Wolfsburg has its sights set firmly on another successful defence of its titles in the FIA World Rally Championship (WRC) with a new car and a new look. Volkswagen completed a clean sweep of all the World Championship titles when the Polo R WRC made its debut in 2013, before repeating this impressive feat last season. Continuity is the key to the driving line-up for 2015: double world champions Sebastien Ogier/Julien Ingrassia (F/F) and team-mates Jari-Matti Latvala/Miikka Anttila (FIN/FIN) and Andreas Mikkelsen/Ola Floene (N/N) will roll down the starting ramp and head onto the first special stage of the year for Volkswagen at the legendary Rally Monte Carlo on 22 January. "The new Polo R WRC has undergone intense further development, both on the inside and the outside," said Dr.

VW's Skoda says Ukraine partner making wire harnesses again

PRAGUE — Skoda Auto, part of the Volkswagen Group, said on Tuesday its supply partner in Ukraine had decided to restart production of wire harnesses which should allow the Czech carmaker to resume production of its electric ENYAQ iV model. Russia's invasion of Ukraine has added to supply chain problems for global automakers — which were already struggling with semiconductor shortages that have cut production — with a break in deliveries of wire harnesses from the war-torn country. While Skoda, the Czech Republic's biggest exporter, said it expects the supply of semiconductors to improve in the second half of 2022, it said the war in Ukraine and supply bottlenecks will put a significant burden on its operating business. Skoda's 2021 deliveries fell 12.6% year-on-year and earlier this month it stopped production of the ENYAQ because of harness shortages, saying that two other models were at risk because of the lack of availability of the component. "Our partner ... in Ukraine decided to restart production of wire harnesses this week, with full service and full security for workers there," Karsten Schnake, Skoda's board member for purchasing, said during its online 2021 earnings presentation. Wire harnesses form a key part of a car's electrical system, which group and guide cables inside the vehicle. "We decided to double the production in case something is going wrong, and this production will be ramped up in an alternative factory," Schnake said, adding that work there would start in three or four weeks. "Hopefully we can restart production of ENYAQ one or two weeks later when we have wire harnesses," Schnake said. Skoda delivered 878,200 cars worldwide in 2021, the first time that this had fallen below the 1 million mark since 2013. Nevertheless, the VW group brand's sales revenue rose 3.9% to 17.7 billion euros ($19.5 billion) in 2021 and operating profit rose 43.2% to 1.1 billion euros ($1 billion) as it took cost measures. Skoda did not give a financial or production outlook, saying there were still considerable uncertainties as a result of the conflict in Ukraine and the impact on its Russian operations. Skoda, like VW, has suspended production and other business activities in Russia, which was its second-largest market last year, with 90,400 vehicles delivered. ($1 = 0.9089 euros) (Reporting by Jason Hovet, Editing by Louise Heavens, Kirsten Donovan and Alexander Smith) Related video: Green Plants/Manufacturing Volkswagen Skoda Electric ukraine war