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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.

The Audi RS3 shows up at Paris with five cylinders, 400 hp, and a scowl

Last night at the Volkswagen Group Night, almost lost among all the future mobility hoopla about the Volkswagen I.D. autonomous EV concept, Audi parked an RS3 sedan. We have some preliminary information about it – including that it's packing a 2.5-liter TFSI engine, the same five-cylinder powerplant that makes 400 horsepower in the new Audi TT RS we just drove. In the RS3, it'll have the same rating. It'll also have a wider track, because it's surely packing wider and stickier rubber. We also know that it'll have a special Virtual Cockpit gauge display that puts the tachometer in the center, in the tradition of sporty driver-oriented cars. Before you sigh something about the injustice of it not reaching the Americas, like many RS models of the past, great news: this one is almost assuredly coming to the US, according to our best intel. We'll have more details later today after the official press conference, but for now the bottom line is this is both what we expected and also truly exciting. We're in the midst of a real Audi RS boom right now. If you want a taste of what to expect, read our Audi TT RS first drive. Related Video: Featured Gallery 2018 Audi RS3 Sedan: Paris 2016 View 15 Photos Related Gallery 2017 Audi RS3 View 18 Photos Image Credit: Live photos copyright 2016 Drew Phillips / Autoblog Paris Motor Show Audi Performance Sedan 2016 paris motor show

Audi introduces leaner, fitter second-generation Q7

After a long run on the market, Audi has finally signaled the end of the first-generation Q7 with the introduction of the long-awaited second-gen version of the brand's first crossover. The 2016 Q7 is a far lighter machine than the vehicle it replaces, thanks to ample use of hot-shaped steel and aluminum. Beyond that, the Volkswagen Group's MLB platform will allow the fullsize Audi to accommodate a range of engines, including more potent versions of the US market's 3.0-liter, supercharged V6 and 3.0-liter TDI. On top of that, the next-gen Q7 will also be available as a diesel plug-in hybrid, complete with a version of the brand's Quattro all-wheel-drive system. The Q7's new design, meanwhile, gives the car an almost wagon-like appearance and profile. The "Singleframe" grille is wrapped in an aluminum-looking surround, not unlike Audi's smaller RS Q3. Audi's cleanly styled headlights flank it, while the large taillights aren't as aggressively angled as Audi's other crossovers. The cabin is lavish, featuring a typically stylish design with plenty of tech. A 12.3-inch TFT display takes the place of a conventional instrument cluster, while the center stack is crowned by its very own display. Even the HVAC display controls are handsome. You can see exactly what we mean in our gallery of live images of the new Q7, straight from the floor of the 2015 Detroit Auto Show.