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Audi E-Tron Sportback Concept previews 2019 production model

Audi has revealed the E-Tron Sportback concept it has been teasing ahead of Auto Shanghai. The all-electric model, the automaker says, previews a production model slated for 2019. Audi will launch an electric SUV with a driving range of 311 miles in 2018. "Following close on its heels, in 2019," says Audi Chairman Rupert Stadler, "comes the production version of the Audi E-Tron Sportback – an emotional coupe version that is thrillingly identifiable as an electric car at the very first glance." The E-Tron Sportback is powered by three electric motors – one on the front axle, and two on the rear ­– providing a total 320 kW (429 horsepower), with a boost mode that ups that output to 370 kW (496 hp). It's capable of a 0-62 mile per hour sprint of 4.5 seconds. A liquid-cooled 95-kWh lithium-ion battery provides 311 miles of driving range (on the European cycle). The concept features Audi's singleframe grille, with an illuminated four-ring logo. The front of the car is shaped for optimal airflow, and the dip in the hood also gives it a uniquely sporty look. Its front fascia integrates lighting that not only illuminates the road, but can project animations or provide communicative signals to other drivers or pedestrians. Its 23-inch wheels are imposing, giving the car a muscular stance. Side mirrors are replaced by slender cameras, which improve airflow and provide a better view of the car's surroundings, helping to eliminate blind spots. By revealing the E-Tron Sportback concept in China, Audi is acknowledging the significance of the country's electric vehicle market. "There are already about 150,000 charging stations in the country, with another 100,000 due to come on stream by the end of 2017," notes Audi Board Member for Marketing and Sales, Dr. Dietmar Voggenreiter. "We are well equipped for this rapid growth. In the next five years we will be offering five E-Tron models in China, including purely battery-powered vehicles with ranges well in excess of 500 kilometers (310.7 miles) such as the Audi E-Tron Sportback." Related Video: Featured Gallery Audi E-Tron Sportback Concept View 34 Photos News Source: Audi Green Auto Shanghai Audi Green Automakers Technology Electric e-tron audi e-tron Auto Shanghai 2017

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

Trump calls Germans 'very bad,' vows to stop their car sales in US

TAORMINA, Italy -Talks between President Trump and other leaders of the world's rich nations at the G7 summit on Friday were expected to be "robust" and "challenging" after he had lambasted NATO allies and condemned Germans as "very bad" for their trade policies. Trump's confrontational remarks in Brussels, on the eve of the two-day summit in the Mediterranean resort town of Taormina, cast a pall over a meeting at which America's partners had hoped to coax him into softening his stances on trade and climate change. According to German media reports, Trump condemned Germany as "very bad" for its trade policies in a meeting with European Commission President Jean-Claude Juncker, signaling he might take steps to limit sales of German cars in the United States. "The Germans are bad, very bad," he reportedly told Juncker. "Look at the millions of cars that they're selling in the USA. Horrible. We're gonna stop that." White House economic adviser Gary Cohn on Friday confirmed the reports. "He said they're very bad on trade, but he doesn't have a problem with Germany." Cohn said Trump had pointed out during the meeting that his father had German roots in order to underscore the message that he had nothing against the German people. Trump's spokesman Sean Spicer said Trump had "tremendous respect" for Germany and had only complained about unfair trade practices in the meeting. Juncker called the reports in Spiegel Online and Sueddeutsche Zeitung exaggerated. The reports translated "bad" with the German word "boese," which can also mean "evil," leading to confusion when English-language media translated the German reports back into English. "The record has to be set straight," Juncker said, noting that the translation issue had exaggerated the seriousness of what Trump had said. "It's not true that the president took an aggressive approach when it came to the German trade surplus." "He said, like others have, that (the United States) has a problem with the German surplus. So he was not aggressive at all," Juncker added. In January, Trump threatened to slap a 35 percent tax on German auto imports. "If you want to build cars in the world, then I wish you all the best. You can build cars for the United States, but for every car that comes to the USA, you will pay 35 percent tax," he said. "I would tell BMW that if you are building a factory in Mexico and plan to sell cars to the USA, without a 35 percent tax, then you can forget that." Last year, the U.S.