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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

Lamborghini may offer rear-drive Huracan

Lamborghini may not offer a manual-transmission option on the new Huracán - so few customers were asking for it on the preceding Gallardo as it was - but don't think that it won't pursue ever more hardcore variants. And that will reportedly include a rear-drive version.
Speaking with journalists at the Pebble Beach unveiling of the new Huracán Super Trofeo, Lamborghini CEO Stefan Winkelmann is reported to have said, "We did it with the Gallardo so it might be an option. We are a four-wheel-drive super-sports car [manufacturer] but why should we not do a rear-drive option?"
The rear-drive Huracán would naturally shed a few pounds off the all-wheel-drive version's curb weight, but the question is just how much. There is said to have only been so much of the AWD system that Sant'Agata was able to strip out of the Gallardo to make the rear-drive Balboni edition after the fact, but if the Huracán was engineered from the get-go for both drivetrains, the rear-drive version could prove that much more thrilling to drive.

The Mansory Cabrera is a Lamborghini Aventador SVJ with a bullish mug

Mansory does not care if a car is rare or special or unique. If it's not a Mansory, it's probably not good enough. But it might qualify to become a Mansory. The aftermarket tuning and design company has captured the limited Aventador SVJ and transformed it into a new vehicle called the Cabrera, which sports new looks and has more power. Lamborghini will only produce 900 Aventador SVJs, and of those 900, three will go under the knife at a Mansory workshop. Mansory quotes a motto, "one car per decade," and says the Cabrera "marks the start of several special editions on the occasion of Mansory's 30th anniversary in 2020." The name Cabrera is a breeding line of the Spanish fighting bull, similar to the names Miura and Gallardo. The Cabrera has an entirely distinct face thanks to a new set of LED headlights. Rather than the chunky stock units that point toward the rear of the car, the new four-unit headlights are slim and horizontal. With the adjustments to the headlights came tweaks to the hood and front fascia. New air inlets on the front apron improve radiator air flow and help improve downforce. The carbon fiber widebody kit, which adds 1.6 inches in width, continues with bulbous wheel arches, aerodynamic side skirts, and a rear "double diffuser." Extra downforce comes courtesy of a massive angular rear wing, and aggressively designed forged lightweight wheels (9x20 and 13x21) are wrapped in Pirelli P Zero tires. The body kit is also designed to help cool the upgraded 6.5-liter V12 engine. While the "normal" SVJ makes 759 horsepower and 531 lb-ft of torque, the Cabrera makes 810 hp and 575 lb-ft. Mansory claims zero-to-62 mph in 2.6 seconds and a top speed of 221 mph. Inside, Mansory takes the Aventador's fighter-jet inspiration literally. The forged carbon fiber has "arrow-shaped decorative seams," that look awfully similar to stealth bombers. That's also mimicked with imprints in the seats. Every part of the interior has been redone and refitted with upgraded materials, including the ceiling, which has a colorful accent spine.    The Cabrera is only one of many vehicles that were launched surrounding the canceled Geneva Motor Show. Other new custom creations include the Lamborghini Urus Venatus and the Bentley Continental GT V8 Convertible. Related Video: