2011 Audi A8 L 4.2l V8 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 Adaptive Cruise Control is the 2017 Autoblog Technology Feature of the Year

Adaptive cruise control is not a new concept, but it is evolving, and Audi is at the forefront. Those advancements were enough for us to name Audi's Adaptive Cruise Control the winner in the feature category for the 2017 Autoblog Technology of the Year awards. The simple name is somewhat misleading. In addition to keeping the car a set distance from the car ahead in traffic, Audi's adaptive cruise takes into account topography, curves, and speed limits. Pass a speed limit sign and the set speed will reset it to match. Or when traveling on a winding road, the car will slow appropriately for the slower corners. With a navigation destination set, it will even slow the car so you can make the turn without hitting any pedals. It's currently available on the Audi A4 sedan and Allroad as well as the Q7 crossover, and will be optional on the upcoming S4, A5/S5, and Q5 and other future Audi models. Audi's advanced cruise system beat out two other finalists in the feature category, Jaguar's Activity Key and the Cadillac Rear Camera Mirror. To us, the Audi system represents a bigger step forward and a greater impact on safety. It will also inform future full-autonomous features and marks a step in that direction. For more on our 2017 Autoblog Technology of the Year awards, including the winner in the car category, check out our awards page. Audi Technology Technology of the Year Autonomous Vehicles Luxury Videos

A few pre-race notes and a lot of photos from the 24 Hours of Le Mans

The 82nd running of the 24 Hours of Le Mans is on.
Audi has won 12 of the last 15 events, the scion of Auto Union is trying to make it 13 this year. To do so, it will have to overcome a situation faced only three other times during its dominance of La Sarthe: underdog status. Toyota has won the first two races of the year and claimed pole for this race, the rumor being that this year it's Toyota's race to lose.
And then there's Porsche. It's been 16 years since the Stuttgart brand raced on the top rung at Le Mans, three years years since it announced its return, just a year since it acquired Mark Webber in a signing that wasn't subtle and a few months since we got eyes on the 919 Hybrid.