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Audi tops BMW and Mercedes in luxury sales

April was a good month for Audi, as the four-ring automaker beat out both Mercedes-Benz and BMW in sales. Bloomberg reports that it was America's appetite for CUVs like the Q5 and ancient Q7 that helped Audi move nearly 153,000 units around the globe. It's not all good news, though. Audi's worldwide sales only jumped by 2.5 percent, compared to BMW and Mercedes, whose sales increased 5.6 and 11 percent, respectively. On top of that, BMW is still the best-selling brand (of the three, anyway) so far in 2015, outselling Audi by roughly 9,000 units and Mercedes by about 23,000 vehicles. Considering the faster growth of its rivals, it's unclear if Audi will be able to hang onto the monthly sales crown beyond April, or if BMW will continue its reign as the world's biggest luxury automaker.

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 Audi R8 e-tron is dead with less than 100 built

According to a report from Car and Driver, the Audi R8 e-tron is dead (again!) after fewer than 100 examples of the all-electric model were built. This is an anticlimactic end to what could be termed an e-saga, with enough twists and turns to make a Hollywood scriptwriter sit up and start pecking out a screenplay. But here's the important number to keep in mind: 100. That's the production number the R8 e-tron failed to reach. The final tally is less than that, an Audi rep told Car and Driver. And what few were built were sold furtively, and only in Europe, in a strange back-channel in which dealers referred potential buyers right to Audi HQ, says the report. All of these transactions happened without the benefit of an online configurator or any published materials, we understand. That doesn't sound like a recipe for wild success – and neither did the $1,000,000+ pricetag. And this is just the latest stumbling block for the R8 e-tron, which was cancelled the first time back in 2012 when it was still based on the sinister, classic shape of the first-generation R8. If you recall, there was some confusion about the limited run of those first-generation cars, which were initially tipped to be sold to the public. In a strange move, Audi walked that back and held onto the cars for "internal purposes." So it was, until 2015, when we saw the second-generation R8 e-tron in Geneva. Audi promised it'd go on sale in 2015 "upon customer request," which was some foreshadowing to the unusual dealership referral sales model we discussed above. Nonetheless, it seemed like it would be a supremely interesting electric sportscar, with 456 horsepower, 679 pound-feet of torque, a 0-62 mph time of 3.9 seconds, and a range of up to 280 miles. Alas, except for the fewer than 100 European owners who managed to take delivery before Audi yanked the cord, the R8 e-tron's emissionless charms will go unappreciated. We're hoping to get more specific confirmation from Audi about the nature of the cancellation and the exact number produced; until then, stay tuned. Related Video: