Gts Leather Navigation Black Awd Park Assist Front And Rear Black Interior Clean on 2040-cars

Auto blog

Audi CEO says brand's EVs are almost as profitable as its other cars

After, oh, a hundred years or so of building vehicles primarily powered by internal combustion engines, automakers around the world have been and still are pumping billions of dollars into the development of electric vehicle technology. Everything from platforms and batteries to motors and the software to control it all requires untold hours of development, and that takes time and money. Fortunately, it's not going to take long for that massive investment to start paying off, at least according to Audi CEO Markus Duesmann, who told Reuters in an interview that "The point where we earn as much money with electric cars as with combustion engine cars is now, or ... next year, 2023. They are very even now, the prices." As a brand, Audi contributed more than a quarter of overall profit for the massive Volkswagen Group, which has such powerhouse brands as Volkswagen and Porsche among others. Under the Audi umbrella are Lamborghini, Bentley and Ducati, and it seems those high-end branches aren't going anywhere, at least for now. "These brands ... are very valuable very profitable brands, where we can even expand the synergy level in the future," Duesmann said in the interview. "There are no plans whatsoever to get rid of them." Despite the overall profitability of the brand, the ongoing global chip crisis is causing headaches. "We had a very strong first half in 2021. We do expect a much weaker second half," said Duesmann, who added, "We really have trouble." In fact, so serious is the trouble that the brand is forced into "a day-to-day troubleshooting process" to limit the chip-shortage damage. The good news for the automaker is that Audi has been able to boost its profit margin from 8% prior to the pandemic in 2019 to 10.7% in the first half of 2021. The bad news is that various chip shortages aren't expected to get a whole lot better over the rest of the year. Related video:

Winterkorn remains CEO of Volkswagen's majority shareholder

Martin Winterkorn may have stepped down as the chief executive of Volkswagen in the wake of the diesel emissions scandal, but he's not out from under the company's large umbrella just yet. In fact, according to a report from Reuters, he still holds four top-level positions not only within the industrial giant's bureaucracy, but at the top of it. And one of those is as CEO of the company's largest shareholder. That holding company is Porsche SE, the investment arm of the Piech and Porsche families (Ferdinand Porsche's descendants) which holds over 50 percent of VW's shares. In 2008, Porsche SE acquired majority interest in the Volkswagen Group which in turn acquired Porsche the automaker – and placed VW's Winterkorn at the head of the executive board of the holding company. Though Winterkorn has resigned from his position as chairman of VW's management board, he has apparently yet to step down from running Porsche SE. That's not the only job that Winterkorn still retains in VW's senior management. He also continues to serve as chairman of Audi, as well as truck manufacturer Scania, and the new Truck & Bus GmbH into which Scania has been grouped together with Man. It remains unclear if or when Winterkorn might resign from those positions as well, or how his tenure in those posts might affect the company's effort to start over in the aftermath of the scandal in which it is currently embroiled. Also unclear, Reuters reports, is how much, exactly, Winterkorn will receive in compensation after having stepped down from his chair at the head of the VW executive board. His pension is reported at over $30 million, but he could be awarded a large severance package as well amounting to as much as two years' worth of his annual compensation, which amounted to around $18 million last year. Whether he receives the severance pay or not is expected to depend on whether his resignation is considered by the supervisory board to have been the result of his own missteps or independent of the situation that resulted in his resignation. One way or another, he's not likely to go poor anytime soon.

Watch the Safari 911 do its thing off road

American racing driver Leh Keen spends his working hours in the No. 22 Alex Job Racing WeatherTech Porsche 911 GT America campaigning in the United SportsCar Championship. From the looks of this video, he spends his free time off-roading in a Porsche of his own specification: a 1981 Porsche 911 SC modded into an homage to the rallying 911s of the 1970s. Privateers began rallying the 911 not long after it went on sale 50 years ago, winning European events and the European Rally Championship as soon as 1967. After some good showings in the early 70s the carmaker took a 1978 911 SC to the Safari Rally in Africa going for the overall victory, but an encounter with a rock meant the team could only claim second place. Keen's Guards Red coupe channels that ancestor with a lift kit from Elephant Racing and a light rack and mud flaps shipped over from Europe. The engine gets a little more power thanks to intake modifications, some SSI heat exchangers, and a Danske exhaust. To help keep it together on the trail, the bumpers get pulled in and use steel bash bars for protection, and the side mirrors are aero numbers tucked into the A-pillar angle. The interior has been entirely redone. Keen apparently said "he wanted a 911 he could 'go anywhere' with," and the video above shows him doing just that. You can read more about the car in this month's Porsche Club of America magazine, check out Fatlace for the short story and a few pictures, or head to photographer Clint Davis' site for an eyefull of high-res shots of the beast. Related Video: News Source: PCAHQ via YouTube Porsche Coupe Luxury Off-Road Vehicles Performance Videos rally leh keen