Glacier White With Hotspur & Beluga Call Roland Kantor 847-343-2721 Bentley Dlr on 2040-cars

Auto blog

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 bringing two-seat sports car to Geneva?

Long subsided on the Continental and Mulsanne model lines, Bentley is on a mission to expand its production portfolio. And the latest reports from Great Britain suggest that it'll present a proposal for expanding it further next month with a conceptual two-seat sports car. The idea has been rumored for several months now, but Autocar claims that Bentley will showcase the two-seat GT at the upcoming Geneva Motor Show. The new model is tipped to be positioned alongside (instead of substantially above or below) the existing Continental GT – much like Ferrari offers the California and 458 Italia (or new 488 GTB) at roughly the same price point – but will likely pack the British automaker's now-familiar, Audi-sourced 4.0-liter twin-turbo V8. Its presentation at the Swiss expo will give Crewe the chance to gauge public opinion before deciding whether to proceed with production plans. It wouldn't be the first time that Bentley had toyed with the idea of a more compact GT. It revealed the Java concept way back in 1994 that never, strictly speaking, made production, but could be said to have paved the way for the current Continental range, and showcased the Hunaudieres mid-engined supercar prototype in 1999 that presaged its winning entry into Le Mans. The as-yet unnamed two-seat GT would be just one of several new models being touted for the British automaker. It is set to launch the new Bentayga crossover in the near future, potentially to be followed by a slant-back crossover coupe variant, a smaller crossover is also said to be under consideration, and it is also rumored to be weighing a four-door coupe to slot in between the Flying Spur and Mulsanne, the latter of which has also been showcased as a two-door convertible version as well.

2015 Bentley Continental GT3-R First Drive [w/video]

Racecars break. F1, NASCAR, IndyCar, GT3 – you name it – every go-fast machine built for the track is living on borrowed time. So it wasn't a complete surprise when, after traveling halfway around the world to drive Bentley's Continental GT3 racecar, the darn thing unceremoniously blew its rear differential on someone else's hot lap. While mentally recalibrating to the idea that my only takeaway from the three day commitment might be frequent flier miles, I realized an alternate vehicle on hand could make the trip worthwhile: the roadgoing, not-so-evil twin to the all-out race machine, the 2015 Bentley Continental GT3-R. You can hardly blame Bentley for the failure to proceed. The Flying B has been performing swimmingly well in the Blancpain Endurance Series, scoring three wins in its debut season and racking up a respectable 2015 so far. The dropped, spoilered, and severely trimmed-down GT3 racer reflects a ruthless abandon of all things luxurious and civilized. Over 50 ECUs were ditched from the road car; the doors alone, which typically weigh a lofty 125 pounds apiece, have been trimmed down to a wispy 15. Yes, the race version is a fearsome, sexy beast – and yes, this was quickly proving irrelevant because that drive was simply not meant to be.The Next Best Thing It's hard to call a $339,725 exotic a consolation prize. Climbing into the roadgoing GT3-R reveals a dramatic departure from the standard issue Conti: Not only is the color scheme unexpected (acid green on black and grey), so is the choice of materials (carbon fiber, Alcantara, not an inch of wood veneer in sight). Some pesky legacy remnants remain (antiquated navigation system, some weirdly pedestrian VW-sourced buttons and switches), but there's also a smattering of sweet details (those famous organ stop air vents, the green center indicator on the steering wheel, the pleasantly gripped Alcantara shifter). In all, 300 examples are being built, 99 of which are destined for the US. Unlike the somewhat sonorous GT V8 S upon which it's based, the GT3-R's titanium exhaust enables an even more exuberant, unapologetic, voluminous roar. Those exhaust gases are summoned from the 592-horsepower, 553-pound-foot, twin-turbocharged 4.0-liter V8, which gains 71 hp and 51 lb-ft over the V8 S model it's based on.