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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.

Audi stretches the A8L even more for one special European buyer

An anonymous European buyer decided that the standard Audi A8L just wasn't long enough, so this wealthy person ordered a one-off A8L Extended with six doors. It's capable of seating six people in luxury. The massive sedan now measures 20.9 feet versus 17.3 feet for the standard, already large A8L. The wheelbase also grows to 13.8 feet from 10.2 feet for the regular version. You might expect the A8L Extended to have facing seats inside like a limousine, but all the passengers actually look forward. The decision probably doesn't aid in having a conversation during the drive, but it's what the buyer wanted. The third row has an entertainment display and refrigerated storage box. The second and third rows also have power adjustable seats in beige Valcona leather. It took a year for Audi's engineers to figure out how to build this beast while retaining the A8's rigidity. The builders eventually settled on adding extruded aluminum sections to the side sills and center tunnel to get the extra length. They also included extra cross braces in the roof, and a 7.9-foot glass panel to lets more light into the cabin. The powertrain consists of Audi's 3.0 TFSI with 306 horsepower and 325 pound-feet of torque and an eight-speed automatic gearbox. The A8L Extended retains the company's Quattro all-wheel drive system and can reportedly accelerate to 62 miles per hour in 7.1 seconds. That's not lightning quick but still plenty for a vehicle that weighs 5,331 pounds. The A8L Extended likely won't remain a one-off for long. According to Audi, the customer response has been quite positive, and the company has already received requests to build more. Representative unique specimen: Audi A8 L extended Premium manufacturer develops and builds 6.36-meter (20.9 ft) sedan to special customer order One-off specimen meets same standards as production model Comfortable and spacious seating for six Audi puts the customer first, however out of the ordinary their requirements may be. An example of this is the Audi A8*: at the request of a European customer the premium brand has built a first one-off version of the sedan in king-size format. Measuring 6.36 meters (20.9 ft) in length and with a wheelbase of 4.22 meters (13.8 ft), the A8 L extended* affords top-class comfort for passengers occupying all of its six seats. A concept that generates customer: Audi has further requests for the custom product already.

Audi works on AI with this mini Q2 that can park itself

Audi created a special Q2 that possesses the ability to find parking spaces, drive to them, and park itself. However, you won't be able to ride in it yet, because it's rather small. The Q2 is actually a 1/8-scale electric-powered model of the compact crossover, but the technology inside should eventually scale up. The model features just two mono cameras, one facing forward and the other rearward and 10 ultrasonic sensors around the body. According to Audi, the on-board computer uses information from all of these sources to figure out where the parking space is, and what maneuvers are necessary to enter it. The Q2 uses trial and error to improve how it parks. Audi will explain this Q2 and its artificial intelligence technology at a conference in Barcelona, Spain, this week. According to Audi, the subsidiary that created this model, Audi Electronics Venture, will transfer the tech to a full-size car in the next step of the project. With cars that can parallel park autonomously, and drive semi-autonomously, it's not hard to imagine them piloting themselves through parking lots on their own in the near future. Related Video: