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Audi CEO says brand's EVs are almost as profitable as its other cars

After, oh, a hundred years or so of building vehicles primarily powered by internal combustion engines, automakers around the world have been and still are pumping billions of dollars into the development of electric vehicle technology. Everything from platforms and batteries to motors and the software to control it all requires untold hours of development, and that takes time and money. Fortunately, it's not going to take long for that massive investment to start paying off, at least according to Audi CEO Markus Duesmann, who told Reuters in an interview that "The point where we earn as much money with electric cars as with combustion engine cars is now, or ... next year, 2023. They are very even now, the prices." As a brand, Audi contributed more than a quarter of overall profit for the massive Volkswagen Group, which has such powerhouse brands as Volkswagen and Porsche among others. Under the Audi umbrella are Lamborghini, Bentley and Ducati, and it seems those high-end branches aren't going anywhere, at least for now. "These brands ... are very valuable very profitable brands, where we can even expand the synergy level in the future," Duesmann said in the interview. "There are no plans whatsoever to get rid of them." Despite the overall profitability of the brand, the ongoing global chip crisis is causing headaches. "We had a very strong first half in 2021. We do expect a much weaker second half," said Duesmann, who added, "We really have trouble." In fact, so serious is the trouble that the brand is forced into "a day-to-day troubleshooting process" to limit the chip-shortage damage. The good news for the automaker is that Audi has been able to boost its profit margin from 8% prior to the pandemic in 2019 to 10.7% in the first half of 2021. The bad news is that various chip shortages aren't expected to get a whole lot better over the rest of the year. Related video:

2019 Bentley Continental GT breaks Pikes Peak production car record

Bentley has made good on its promise to capture the production car record at Pikes Peak this past weekend. Pikes Peak expert Rhys Millen took a stock 2019 Bentley Continental GT (save for mandatory safety equipment) up the roughly 12-and-a-half-mile route in a time of 10:18.488 and an average speed of 70 mph. The final time was an impressive 8.4 seconds ahead of the previous record. That previous record holder was a stock 2014 Porsche 911 Turbo S driven by David Donner. That car's twin-turbo flat-6 made "just" 560 horsepower and 516 pound-feet of torque to the Bentley twin-turbo W12's 626 horsepower and 664 pound-feet of torque. Of course the Bentley is much heavier, which would be evident in a straight drag race, as the Porsche had a claimed 0-60 mph time of 2.9 seconds to the Bentley's 3.6. We're interested to see if other manufacturers will start heading to Pikes Peak in search of production class glory. In the meantime, Bentley can relish in owning not one, but two production car record times. It set the production SUV record last year with a Bentayga. The Bentayga was a little over 30 seconds slower than the Continental GT with a time of 10:49.9. Bentley set the record on Sunday, June 30, the same day that Carlin Dunne was killed in a crash while attempting to set a different record aboard a Ducati Streetfighter V4 prototype. Related Video:    

2015 Bentley Flying Spur V8

Despite Bentley's reputation as a holier-than-thou, ultra-luxury brand, at the end of the day, the Big B is still a business. As such, ongoing trends like powertrain downsizing and model range expansion are more prevalent at Bentley than ever. Just look at the Continental range - what started as the GT W12 has expanded into the GTC W12, GT V8, GT V8 S, GTC V8, GTC V8 S, GT Speed and GTC Speed. Talk about "have it your way."
But there's good reason for that. So many of these vehicles, despite their hand-crafted, bespoke nature, are all - gasp! - plug-and-play exercises that allow Bentley to appeal to the broadest range of upper-lux buyers, while keeping development costs relatively low. It's a move that's indeed worked, the company managing to post healthy sales increases year after year. And that's only going to get better, following the launch of the Flying Spur sedan last year, not to mention the upcoming, highly anticipated SUV that's in the works. As Kevin Rose, Bentley's member of the board for sales, marketing and aftersales told me recently, "The best years are yet to come."
To further expand an already growing range, I recently hopped a plane to London to experience the second member of the Flying Spur family - the V8. This less-powerful Spur offers better fuel efficiency and a lower staring price, while not compromising any of the brand's core values of luxury and refinement above all. But to paraphrase what executive editor Chris Paukert said when he drove the Conti GT V8 in 2012, this is indeed The Thinking Man's Flying Spur. Here, less really is more.