2002 Audi Tt 1.8 Roadster Convertible, Leather, Bucket Seats, Clean Carfax 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

The Acura NSX leads this month's list of discounts

For the second time in the last three months, the Acura NSX has a larger monetary discount than any other vehicle in America. Acura's hybrid super coupe packs 573 horsepower under its sleek bodywork, sufficient to send it sailing off to 60 miles per hour in a scant 2.9 seconds. But it doesn't exactly fly off the showroom floor with the same level of urgency. Buyers of the NSX are paying an average of $138,078 right now, which is a savings of $22,823 off its window sticker. That represents a 14.2% discount, which is also the largest percentage savings in February. And if the NSX doesn't quite fit into your future plans, Acura is also heavily discounting the ILX, TLX, RLX and MDX, so much so that those five models from the premium Japanese brand all appear in the top 10 biggest discounts this month. 2020 Acura NSX View 11 Photos The sleek 2020 Aston Martin Vantage slides into second place on the biggest discounts list, with an average of $18,763 lopped off its sticker price resulting in an average transaction price of $137,298. That's awfully close to the out-the-door price of the leading Acura NSX, which is a quicker and more technologically advanced machine, though arguably less traditionally beautiful. Rounding out this month's top three discounts is the 2020 Audi R8, buyers of which are averaging $17,888 off the sticker price for an average transaction of $179,238. Note that the Audi R8 is available as both a coupe and a convertible, with two power levels offered from its standard V10 engine. That means some R8s are certainly going to be much pricier than others. For a look at the best new car deals in America based on the percentage discount off their suggested asking prices, check out our monthly recap here. And when you're ready to buy, click here for the Autoblog Smart Buy program, which brings you a hassle-free buying experience with over 9,000 Certified Dealers nationwide.

2017 Audi A4 Deep Dive

Unchanged. Plain. Boring. These words have been used to describe the new 2017 Audi A4, but they all miss the point entirely. Yes, the design of the new A4 is evolutionary, rather than a ground-up restyling. But as they say in ancient High German, "If it ain't broke, don't fix it." Of course, if you're at all interested in the 2017 Audi A4, you've probably read all about it in the official press release a few days ago. So we'll cut to the chase and tell you the bits you don't already know: the American-market details. We spent a day at Audi headquarters in Ingolstadt last week finding out the latest and poking around the A4 in the metal. The new A4 is wider, longer, and roomier than before. The lines are crisper and sharper, but yes, the proportions have remained very similar. That was done on purpose, thoughtfully. Not out of laziness. Stand any two sequential generations of Porsche 911 next to each other and you'll find they are rather similar. And yes, people do complain about that. But they also complain about the property tax rate on their third home in Monaco. That familiar-looking body gets a shockingly low coefficient of drag of just 0.23. The improvements in drag come from fine-tuning details down to the placement of the side mirror (now on the door, rather than the triangular window panel) and the contouring of the inner edge of the side mirror, which gets little vortex generating bumps to improve the turbulent airflow in that area, reducing drag. Attention to detail and refinement of a successful design – not boring, lazy repetition. Another notable departure in the styling of the new A4 is equally subtle, but even more significant from a precision manufacturing perspective: the hood has no cut lines on its upper surface. Instead, the hood now wraps around the tops of the fenders, the cut line integrating with the sharp crease that runs down the entire body side. The creation of this cut line requires extremely tight manufacturing tolerances to enable the precise alignment of the hood and fender gap with the stamped-in crease in the door panel; misalignment would be obvious and catastrophic to the clean, simple design's flow. Now, let's rip off this Band-Aid: no, we won't be getting the Avant. Why? Because no one buys it, vociferous vocalizations on the Internet aside.