2014 Volkswagen Jetta Tdi on 2040-cars

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Volkswagen posts quarterly profit despite drop in sales

Volkswagen returned to profit in the third quarter as surging Chinese demand for luxury cars helped offset a 1.1% drop in vehicle deliveries due to the pandemic, sending its shares as much as 3% higher on Thursday. The German automaker's return to the black comes amid spiking coronavirus cases in Europe that led governments in France and Germany to order their countries back into strict national lockdowns on Wednesday. "The coronavirus remains a central problem," Volkswagen Chief Financial Officer Frank Witter said in a conference call with reporters. "This situation now is anything but relaxed." But Witter said the group expected the economic recovery to continue and did "not anticipate any nationwide lockdowns in larger markets." Witter said the takeover of U.S. truck maker Navistar International by Volkswagen's trucking unit Traton was an important acquisition, but the "current economic climate will not make this easy." Volkswagen reiterated it expects to post a profit for the full year, saying its business "recovered noticeably" in the third quarter as sales in China of premium vehicles, including Audi and Porsche sports cars, rose 3%. The quarterly performance was also aided by a series of cost-cutting measures launched earlier this year. Volkswagen said its net liquidity rose to 24.8 billion euros from 18.7 billion at the end of the second quarter. Excluding one-time items, third-quarter operating profit was 3.2 billion euros ($3.8 billion), down from 4.8 billion euros a year earlier, but up from a second quarter loss of 1.7 billion. In a note to clients, Jefferies analyst Philippe Houchois described the results as a "solid performance with strong cash, but relatively muted in the context of the (auto) sector recovery." Last week, German rival Daimler reported a record 24% jump in Chinese demand for its Mercedes-Benz cars, boosting its margins in the third quarter. Italian-American Fiat Chrysler Automobiles and Peugeot manufacturer PSA Group both also posted solid results this week. Witter said Volkswagen could not say for sure whether it would meet EU CO2 emissions targets this year, adding "it will be a tough race." At 1030 GMT, Volkswagen shares were up 2.9% at 129.20 euros. Related Video: Earnings/Financials Audi Bentley Bugatti Lamborghini Porsche Volkswagen

Volkswagen says goodbye to Eos, Routan in 2015 updates

Usually automakers announce changes to their lineup individually on a vehicle-by-vehicle basis, but sometimes it all comes at once – especially when the changes are ones we either expected or might not otherwise notice. That's the path Volkswagen has gone with changes to its US lineup for 2015. The biggest change is what we already knew: that the new Golf arrives for the 2015 model year, bringing with it the new GTI, Golf R, e-Golf and Golf SportWagen (to replace the previous Jetta wagon). But there are some new details as well. For starters, Volkswagen has finally confirmed that both the Eos and the Routan – both long rumored to be on their way out – will be exiting this year. The Eos hardtop convertible, pictured above, will linger for one last year, its Sport trim replaced by a new Final Edition with 18-inch wheels, two-tone leather interior and enhanced equipment. Meanwhile the Routan, which hasn't actually been built in over a year, is finally dead, as VW confirms it has dropped the Chrysler-built minivan from its lineup for 2015 altogether. The German automaker has also confirmed that the Touareg is getting a facelift early in the new year, which we expect will closely follow the revisions revealed a few months ago ahead of the Beijing Motor Show. Finally VW has announced an upgrade to its 2.0-liter TDI. Fitted to the Golf, Jetta, Passat and Beetle, the updated diesel gets 10 more horsepower with output now up to 150 hp and 236 pound-feet of torque. Scope out the full list of announcements in the press release below. MODEL YEAR 2015: NEW GOLF FAMILY, REDESIGNED JETTA, AND NEW TDI® CLEAN DIESEL ENGINE HEAD THE CHANGES Jul 22, 2014 In a busy year, Volkswagen will also add a new Golf SportWagen, an all-new Golf R, a redesigned Touareg SUV, and the company's first U.S.-market EV, the e-Golf - All-new Golf is bigger, lighter, and more fuel-efficient than the previous model, seats five, and has a larger trunk than any midsize sedan - New Golf GTI has 210-horsepower engine, with improved fuel efficiency and performance - e-Golf is Volkswagen's first full Battery Electric Vehicle for sale in the U.S.

Recharge Wrap-up: 2015 Fuel Economy Guide available, how Porsche ships 919 Hybrid

The EPA and Department of Energy have released the 2015 Fuel Economy Guide. Unsurprisingly, the groups say that this year features more fuel efficient and low-emissions vehicles than previous years, and they span a greater variety of vehicle types. The guide also provides "best-in-class" lists, greenhouse gas ratings and estimated fuel costs for each vehicle. The EPA and DOE hope that car buyers will use the guide to help choose cars that are better for the environment and the climate. Check out the guide for yourself or read more in the press release below. To get from one WEC race to the next, Porsche ships its 919 Hybrid LMP1 cars by air. As the team travels around the world - from continent to continent - it must take 35 tons worth of cargo with it, including two LMP1 cars. That means draining fluids, partially dismantling the cars, and fitting everything into a 747. The team also ships items by sea, which requires shipping extra sets of items due to the longer shipping times. "It's all about efficiency," according to Porsche. Read more in the press release below. Terra Motors is unveiling the A4000i electric scooter, which it will sell in Europe, at the EICMA motorcycle show in Milan. The A4000i, which features smartphone connectivity, will be the company's European flagship model. Terra Motors will begin selling in Italy, and plans to make arrangements to sell in several more countries shortly after. Terra hopes to set up manufacturing in Europe, as well. Also on display at EICMA is the company's Bizmo II electric scooter, which has a driving range of 93 miles on a single charge. Read more in the press release below. Volkswagen is providing a 2015 e-Golf to Stanford University for research. The car will be used to study electric mobility, improvements in the driving experience and people's driving behavior and attitudes toward EVs. "Volkswagen's longstanding relationship with Stanford has allowed us to push the boundaries of automotive research and innovation," says Volkswagen's Ewald Goessmann, "and we look forward to extending our work together to drive advances in electric vehicles." See the video and read more in the press release below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. EPA, DOE Release 2015 Fuel Economy Guide for Car Buyers The U.S.