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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.

Porsche Macan sales may push brand past 200K unit goal early

In late 2010, Volkswagen announced that it would spend the equivalent of $71 billion through 2015 to beef up its product lineup, determined to overtake Toyota in overall sales and profitability by 2018. Each of VW's many brands, in turn, would play its part contributing to a goal of 10 million sales per year. VW-owned Porsche was expected to sell 200,000 vehicles per year by 2018, but with the imminent arrival of the Macan small sport utility vehicle in 2014, the automaker is poised to meet that goal years ahead of schedule, Automotive News reports.
Porsche sold 143,096 cars in 2012, and IHS Automotive predicts Porsche will sell 63,000 Macans in 2014, according to Automotive News, which would make it the brand's best-selling vehicle. Do the math and you can see how Porsche could easily beat original expectations ahead of schedule. But Porsche's sales and marketing boss Bernhard Maier says not so fast: "We will not offer [63,000 Macans] in 2014 as we will still be ramping up production and introducing models top down," he told Automotive News Europe. Whether Porsche surpasses the 200,000 mark early or not, he said, the company will not set a new sales target and will remain committed to its business model.
The Macan shares its architecture with the Audi Q5, but Porsche will be able to charge more for its SUV. Tim Urquhart, a senior analyst at IHS Autmotive, told Automotive News that Porsche can charge 10 to 20 percent more, for what is basically the same SUV, than other VW Group brands. How's that for brand value?

Porsche 911 GT3 wows the crowds in Geneva

Porsche has a long and storied history of taking its range-topping 911 sportscar racing, with an enviable record of achievements in tow. The latest machine with which the automaker will take to the track can be seen above: the fifth-generation 2014 911 GT3.
With 475 horsepower strumming through the 3.8-liter six-cylinder boxer engine, this is the pinnacle of naturally aspirated performance from Porsche. It can go from 0 to 60 in just 3.3 seconds, hit a top speed of 195 miles per hour and has lapped the Nürburgring Nordschleife in less than seven and a half minutes.
A dual-clutch PDK transmission (no standard manual gearbox will be offered) with shorter gearing than lesser 911 models sends power to the rear wheels. Providing forward motion isn't the only thing those rear wheels will be doing - Porsche says the 2014 911 GT3 is fitted with the manufacturer's first active rear-wheel steering.