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Lamborghini and Bentley may hold off on SUVs so VW can conserve cash

After surveying the European economic scene, Volkswagen may have decided now is not the time to launch utility vehicles with Bentley and Lamborghini badges. Bentley officials say they will continue to push for support for the EXP 9 F and Lamborghini CEO Stephan Winkelman has said planning for the Urus will continue until VW tells it to stop.
That decision could come on November 23, when VW's board will vote on the company's budget for equipment, factories and vehicles. With VW's sales slowing and the Euro economy slumping further, some industry watchers say the company is more likely to build its cash reserves than to introduce super-expensive luxury SUVs or crossovers.
"Such vehicles are anything but obligatory during a crisis," says Frankfurt-based Equinet AG analyst Tim Schuldt in a new Automotive News Europe story. "Delaying their launch would be no drama but help save costs."

Bentley Bentayga Stetson Special Edition is Texas-style luxury

A premium Texas car dealership has coordinated the unusual pairing of a top-tier British automaker with a legendary American hat brand. Together, with the help of the bespoke builders from Mulliner, Bentley Dallas and Stetson have birthed the Bentayga Stetson Special Edition. The first example (there will be more) arrived at the dealership this week in White Sand and comes complete with a matching hat.  Although Bentley and Stetson might seem like an odd couple, their similar core values make for a loose connection: lasting quality, timeless design and unmatched craftsmanship. The special edition, which is sold exclusively through Bentley Dallas, is available in three different colors, all of which match an iconic Stetson design. Onyx is meant to pair with the Stetson black 100X El Presidente, Dark Cashmere is for the Stetson Boss of the Plains, and the White Sand paint on this example matches the Stetson Silverbelly. The wheels can be ordered on a normal Bentayga, so the only other exterior alteration is the addition of Stetson badges on the rear side panels. Step inside, and the SUV starts to feel a bit more Texas. Mulliner conceptualized a three-tone configuration with camel main hides, saddle secondary and burnt oak accents. The seats, door paneling, and floor mats feature diamond-quilted designs, and "boot stitching" was used throughout the vehicle as a nod to cowboy culture. Possibly the most beautiful material is the open-pore liquid amber veneer, which is cut from American Red Gum trees in the U.S. Punctuating the special edition, each front seat has "STETSON" embroidered beneath the head rests, and treadplate inserts read, "MULLINER STETSON."  The Stetson Special Edition does not receive any performance upgrades, so it sticks with the twin-turbo 4.0-liter V8 that makes 542 horsepower and 568 pound-feet of torque. This exact example is listed at $246,578, but each version would be different depending on customer preferences. Bentley Dallas is expecting two more vehicles in October and November. Featured Gallery Bentley Bentayga Stetson Special Edition View 25 Photos Design/Style Bentley SUV Luxury Off-Road Vehicles Performance bentley bentayga Mulliner

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