1999 Lamborghini Diablo Vt 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

Experience the 2016 Quail Motorsports Gathering in glorious technicolor beauty

If you want to properly experience all of the best that Monterey Car Week has to offer, you're going to want to head to the Quail Lodge and Golf Club on the Friday before The Pebble Beach Concours d'Elegance. Showcasing everything from classic roadsters to modern hypercars and everything in between, The Quail has something to offer pretty much everyone. But The Quail is an extremely exclusive event, and it's not always easy to get tickets. Our high-res gallery of 54 images may be the next best thing. This year, the BMWs of all vintages were front and center in celebration of the German brand's 100-year anniversary. But that's not all. You'll see an impressive collection of Lamborghini Miura coupes in our gallery, all brought to The Quail to celebrate that car's 50th anniversary. Pre-war race cars, post-war sportscars, motorcycles old and new... there was a lot to take in at The Quail in 2016. We did our best to capture the event in images, and we hope you enjoy scrolling through. Related Video: Featured Gallery 2016 Quail Motorsports Gathering View 54 Photos Image Credit: Copyright 2016 Drew Phillips / Autoblog Design/Style Motorsports Misc. Auto Shows BMW Lamborghini Automotive History Convertible Coupe Wagon Concept Cars Luxury Racing Vehicles Special and Limited Editions Performance Supercars Classics Sedan Pebble Beach

1996 Zagato Raptor concept is a lighter Lamborghini Diablo VT and is up for sale

It's hard to out-do Lamborghini when it comes to design, but when Lamborghini partnered with Zagato on a concept car, that's just what happened. The 1996 Zagato Raptor concept was the result, and it was even planned for production. That never happened, but you'll be able to own the lone concept as it's going to be sold by RM Sotheby's. According to the auction house, the Zagato Raptor was developed as a stop-gap model between the Diablo and its proposed successor, the Canto, another stillborn design that gave way to the Murcielago. The car is distinctly more rounded than the wedge-like Diablo, but it's no less wild with its wide haunches, sci-fi taillight bar, and aggressive roof scoop. The party piece, though is the huge tilting canopy for access, which also featured a removable targa roof. The design process and its materials were impressive, too, as the car was completely designed on computers, and went from idea to complete car in just four months. The entire body was made of carbon fiber, too, and that made it about 660 pounds lighter than a Diablo. Some of the weight savings also came from the fact that it lacked the traction control and ABS that came with a Diablo. The Raptor naturally was quick as it shared the Diablo's 6.7-liter V12 and the Diablo VT's 6-speed manual gearbox and all-wheel drive. It could hit 60 mph in under 4 seconds. The car has led a fairly reclusive life following its debut at the 1996 Geneva Motor Show. It's last public appearance was at the Pebble Beach Concours back in 2008. As such, RM Sotheby's recommends a thorough mechanical refresh before doing much driving with it. As a show car, don't expect it to register it for street use, but we're sure it would be fun on private courses. The auction house didn't provide any pre-sale price estimate, though it probably won't go cheap. If you're interested, it will cross the block at the RM Sotheby's Abu Dhabi auction on November 30.