2017 Audi R8 5.2 Quattro V10 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

Audi Q7 plug-in hybrid spied, Porsche powertrain possible

It's no secret that a new Audi Q7 is on the way. The replacement for the aging, three-row luxury CUV has already been spotted once, in December of 2013. Now, though, we have images of the second-generation model lapping Germany's Nürburgring Nordschleife, and it just happens to be showing a feature we reported on at the end of July - a plug-in-hybrid powertrain.
Given away by its high-voltage stickers on the window and a spare door to hide the charger - note how both the driver and passenger sides sport an access point - our spies snapped a series of photos, and put forth the compelling idea that the new Q7 would use the PHV system from the Porsche Cayenne S E-Hybrid.
If that's the case, that should mean at least 320 horsepower from a 3.0-liter, supercharged V6, while an electric motor chips in a further 95 ponies for a total system output of 416 hp.

Audi's Connected Mobility Concept W/ Electric Longboard | Autoblog Minute

Audi debuted its Connected Mobility Concept at the 2016 Beijing Motor show. The concept is based on the Audi Q3 production model.