2010 Bentley Continental Gt Speed Coupe 2-door 6.0l 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

Bentley builds a Continental GT as tribute to the car that inspired the model

Bentley is staying quite busy with its tribute models. It's built yet another 2023 Continental GT, in Azure trim, that's based on a notable past model. But unlike the Bathurst cars, this one appears to be just for Bentley, and it's based on a much older car: a 1953 R-Type Continental. More specifically, it's based on the 1953 R-Type Continental Bentley keeps in its historic fleet. It's a car that was purchased by the company in 2001 and has been maintained and preserved. The R-Type Continental is an important model for Bentley for a couple of reasons. It's a neat model on its own as a coupe version of the R-Type sedan that got a relatively light aluminum body, and its 4.6-liter straight-six could propel the Continental to nearly 120 mph. But it also was the inspiration for the first-generation Continental GT launched in 2003. So this special Continental GT Azure brings everything full circle. It's painted Old English White with a Cricket Ball leather interior to match the white-over-red of the '53 example. Bentley says the Burr Walnut wood trim with boxwood inlays was given a natural finish lacquer to match the aged wood on the old car. And as an Azure, this Continental GT comes with a variety of comfort-oriented features such as the active anti-roll bars and ultra-adjustable seats with massage. Under the hood is the standard twin-turbo 4.0-liter V8 making 542 hp. Related video:

Bentley Bentayga takes Pikes Peak SUV record

Earlier this spring, we wrote about Bentley's bid to beat the existing Pikes Peak record for sports utility vehicles, with racing driver Rhys Millen behind the wheel of a bright green Bentayga. And this past weekend, they did it, slicing almost two minutes off the earlier record. Having been set by Paul Dallenbach with a Range Rover Sport back in 2013, the old record stood at 12:35.61. The New Zealand-born Millen completed the course in 10:49.9, at an average speed of 66.5 miles per hour. To pass Pikes Peak scrutineering and to keep Millen safe, the near-stock Bentayga had been fitted with a roll cage and racing seats, along with a harness and a fire suppression system; the only performance modification was a production-specification Akrapovic exhaust system. We expect the engine note to have been crowd-pleasing. The #Bentayga has smashed the Production SUV record at #PikesPeak, beating the previous best by nearly two minutes. @RhysMillen took just 10:49.9 to climb 5000 ft over 12.4 miles #BeExtraordinary pic.twitter.com/sEQ80FgwbE — Bentley Motors Comms (@BentleyComms) June 24, 2018 The 5000-foot climb has 156 corners, which the Radium Satin colored, 600-hp Bentayga attacked on stock Pirelli rubber. After his record run, Millen said: "To take a luxury SUV with minimal modifications and be able to drive up this course in under 11 minutes is a huge testament to the performance and level of engineering in the Bentayga." Related Video: Featured Gallery Bentley Bentayga Pikes Peak Image Credit: Bentley Motorsports Bentley Crossover SUV Luxury pikes peak bentley bentayga hill climb