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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.

Bentley's upcoming Bentayga crossover sheds more camo

Bentley keeps edging closer and closer to launching its first SUV in the upcoming new Bentayga, and this latest batch of spy shots give us our best glimpse at the forthcoming ultra-luxury crossover yet. Spied undergoing cold-weather testing in northern Sweden, this prototype is wearing less camouflage and more of what appears to be its production bodywork than ever before. Of course, some parts remain disguised, especially around the front fenders and tail lights, but if you've been wondering what the new high-rider from Crewe will look like, this ought to give you a pretty solid idea ahead of the final form that's anticipated to debut later this year. The Bentayga will be based on the same architecture that already underpins the new Audi Q7 and is set to form the basis of the next Volkswagen Touareg and Porsche Cayenne. Only Bentley is expected to offer a wide array of powertrain options, including the company's existing V8 and W12 engines and a new hybrid setup.

2016 Bentley Bentayga in the buff [w/video]

Look, before you rush to the comments and start ranting about how ugly the Bentley Bentayga is, let's talk about how bad it could have been. Remember the EXP 9 F concept from Geneva a few years ago? You know, the one with the, as associate editor Jonathon Ramsey says, "cat anus headlights." Yeah. The production car doesn't look half bad now, does it? No matter, the Bentayga will probably be Bentley's best-selling model when it launches. And there's a lot to like, too – endless swaths of fine leather, super-luxurious seating for four or five, and a 600-horsepower, 12-cylinder engine. Plus, Bentley actually engineered the Bentayga to go off road, with various traction management modes to handle the rough stuff. Following the initial launch, Bentley will offer diesel, hybrid, and Speed versions of the Bentayga, as well as a seven-passenger version. We're also willing to bet the brand's 4.0-liter, twin-turbo V8 will find its way under the hood at some point, too. Get a load of the big gal in the gallery above, and scroll down for the press blast. It truly is the Bentley of SUVs. BENTLEY BENTAYGA: THE FASTEST, MOST POWERFUL, MOST LUXURIOUS AND MOST EXCLUSIVE SUV IN THE WORLD - A true Bentley, combining unparalleled luxury with sporting ability, off-road performance and everyday usability - Innovative and advanced technology – cutting-edge features with trademark exquisite luxury - Designed, engineered and built in Crewe, UK, sector-defining SUV takes Bentley luxury to new places - Sculptural design with elegant, timeless execution, balances athleticism with presence - Bentley workforce blend exceptional craft and skill with modern production techniques and materials - Intricate detailing and precision in wood, metal and leather creates a modern, luxurious handcrafted interior - Effortless Bentley performance, unrestrained by climate or terrain - A new highly advanced chassis for ultimate ride quality and comfort - All-new Crewe-built W12 offers unrivalled power and torque, efficiency and refinement, the most powerful and fastest SUV ever - Launch model is joined later by high performance, clean technology diesel and plug-in hybrid, as well as a seven seat option (Crewe, 9 September, 2015) Bentley Motors is today announcing full details of its pinnacle, sector-defining new model, the Bentayga. The Bentley Bentayga combines unparalleled luxury with effortless performance and everyday usability.