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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.

Did the new Audi R8 just get outed on Instagram?

While we can't confirm it officially, what you're looking at above, according to Instagram user dreboog (Dre Boogie), may indeed be the next Audi R8. We're expecting Audi's revised supercar to get its official debut at the 2015 Geneva Motor Show, which would makes the timing of this leak make sense. You can compare this image with the spy shots we've already seen and draw your own conclusions, but it looks about right to our eyes. There are a few interesting tidbits worth noting, the most immediately obvious being the lack of the so-called side blades that were a polarizing styling element with the first Audi R8 first hit the scene but which have since become part of the coupe's signature look. We also see a front fascia that brings the low-slung coupe more in line with the German brand's current design ethos. Besides those readily apparent cues, there's not much to glean from this Instagram leak. We'd certainly expect more power from Audi's halo car, but just how much more than the 430 horsepower offered by the current V8, 525 hp from the V10 or 550 hp from the V10 Plus, we look forward to finding out. In the meantime, feel free to let us know what you think in the Comments. News Source: dreboog via InstagramTip: Andreas Design/Style Spy Photos Geneva Motor Show Audi Coupe Performance Supercars autoblog black

Audi, McLaren to bring winning cars back to Le Mans

Now gearing up for its 83rd running, the 24 Hours of Le Mans is as much about history as it is about racing forward. So this year, two key outfits in the event's history are celebrating by bringing back the cars with which they dominated in years past. Audi has been a force to be reckoned with and the team to beat at Le Mans in the modern era. It still may not have topped its sister brand and chief rival Porsche's record 16 wins, but Audi's 13 have all come in the past fifteen years since the turn of the millennium. That's one heck of a winning streak, which the German outfit will highlight by bringing every single one of its winning prototypes back to La Sarthe this year. From the R8 that kicked it all off in 2000 through the diesel R10 TDI to the R18 E-Tron Quattro that won last year. Ingolstadt won't be alone in racing down memory lane. McLaren announced it will be bringing back all five F1 GTRs that dominated the race in 1995. The quintet that finished first, third, fourth and thirteenth overall will lead a parade lap around the French circuit, joined by the new P1 GTR that will be making its dynamic debut as well as the customer examples of the special edition 650S Le Mans. What's more, winning drivers from '95 – Yannick Dalmas, Masanori Sekiya and JJ Lehto – will be on hand to participate in the parade lap as well, further highlighting the occasion. Related Video: UNITED FOR THE FIRST TIME: AUDI'S 13 LE MANS WINNERS - Efficiency technologies since 2001 in the Audi R8 - Pioneering achievements with the TDI diesel engine - R18 e-tron quattro with hybrid technology unbeaten at Le Mans Ingolstadt, May 15, 2015 – 29 days to go until the Le Mans 24 Hours: Audi is intensively preparing to battle for its 14th victory in the world's toughest endurance race. Since 2000, the brand has won the race 13 times. This year, Audi has assembled all of its Le Mans winning models for a group photo for the first time. Every single one of them represents 'Vorsprung durch Technik.' The string of victories began with the Audi R8 in 2000. "Following a year of learning and gathering experience at Le Mans, we started the 2000 season with a completely new design," says Head of Audi Motorsport Dr. Wolfgang Ullrich.