2005 Audi A8l W12 Quattro - Grey/saddle - Rare!! Nav, Rr Ent, 4 Person Seating!! 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

Audi mulling producing version of Quattro showcar, just not sure which one [w/poll]

Head of design for Audi, Wolfgang Egger, has told Auto Express that a reborn Quattro could enter production, but bosses for the company haven't yet decided whether to base it on the Sport Quattro concept that just debuted at this week's Frankfurt Motor Show or the smaller Quattro concept that was revealed at the 2010 Paris Motor Show.
While both draw their inspiration from the original Ur-Quattro of the 1980s, they vary wildly in both size and choice of powertrain. The 2010 Quattro concept was based on Volkswagen's MQB platform, shared with such vehicles as the Golf and Audi A3. The Sport Quattro, meanwhile, was built atop the company's larger MLB platform that's used almost exclusively for Audi models, including the A5, which is also a coupe.
Under their hoods, the 2010 Quattro concept simply employs a version of the same 2.5-liter engine used in the TT RS, tuned to deliver 408 horsepower, while the Sport Quattro goes nuclear with a twin-turbo V8 hybrid powertrain that develops 700 hp and 590 pound-feet of torque. Both, of course, employ quattro all-wheel drive just like their forebearer.

Audi Canada surprises out-of-warranty owners in a good way

One of the worst parts about going to a dealership is sitting around waiting for the courtesy shuttle to show up and transport a group of strangers to their places of work or homes. Well, Audi of Canada found a nice way to surprise customers who brought their out-of-warranty vehicles in for a scheduled Health Check by replacing dealer's normal shuttle with a 2014 Audi R8 V10.
The R8, painted to resemble a safety car or police car, gave the customers a ride home - even stopping at a coffee shop along the way. Needless to say, the stunt got plenty of attention from passers-by and was quite a hit with the Audi customers, too. Scroll down to watch video of the customers getting the ride of a lifetime, which we're sure left some of the in-warranty customers at least a little jealous as they drove off in dealer loaner cars.