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Porsche Goes After Tesla, VW Group Night | Autoblog Minute

Volkswagen Group Night kicks off the 2015 Frankfurt Motor Show with big news from Porsche and Mercedes.

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.

Porsche confirms four-cylinder Macan for New York

There aren't a lot of problems with the Porsche Macan. It's clean, handsome, and very, very nice to drive. But it's expensive, starting at $55,450, and thirsty, at 17 miles per gallon in the city and 23 on the highway. To improve on both of these, Porsche is adding a 2.0-liter, turbocharged, four-cylinder Macan to the lineup. The new engine moves the compact CUV downmarket on both power and price fronts. In the Macan, the 2.0-liter pumps out 252 horsepower, 273 pound-feet of torque, and compared to old base model, cuts the curb weight from 4,112 pounds to 3,902 pounds. Combined with a seven-speed PDK and a standard all-wheel-drive system, the new base level CUV will hit 60 miles per hour in just 6.1 seconds. You still have to suspend logic when buying a Macan, though. At just 20 mpg in the city and 25 mpg on the highway, it's scarcely more efficient than the 340-hp S model. Admittedly, the Macan's competitors all eke out substantially better fuel economy, but each of these vehicles does so with less power than Porsche's new base Macan – the BMW X3 has 240 ponies, the Mercedes GLC has 241, and the Audi Q5 just 220. But they also do it for a lot less money. The new Macan starts at $48,550, including a $1,050 destination charge. That's $6,900 less than the Macan S, but it's still around $7,000 more than the all-wheel-drive versions of the aforementioned cars. And yes, that chasm is almost certainly going to widen after digging into Porsche's options catalog. Still, this is an intelligent and overdue move for Porsche here in the US (the four-pot Macan has been on sale in Europe for years). It opens up the Macan to a far wider swath of customers, not unlike what the V6 model does for the Cayenne. Look for more on Stuttgart's new entry level CUV in a few weeks, when it makes its big debut in the Big Apple. Related Video: PORSCHE ANNOUNCES NEW YORK AUTO SHOW LINE-UP North American debut of Porsche 911 R, 718 Boxster, and Macan Atlanta, Georgia. The New York International Auto Show will be host to three North American debuts for Porsche this year. The 911 R and the 718 Boxster both represent the latest interpretation of driving pleasure and dynamics in their respective segments. The 911 R is a pure, uncompromised driving machine with a naturally-aspirated, 500 horsepower engine mounted in the rear. The 718 Boxster features extensive chassis enhancements and an all-new turbocharged, mid-mounted flat-four cylinder engine.