2008 Porsche Boxster on 2040-cars

Auto blog

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.

1986 Porsche 959 Prototype at Barrett-Jackson sees gavel fall at $440,000 [UPDATE: w/video]

Fans of Porsche in America have longed for the chance to buy a 959 ever since the German automaker produced and sold it (well, sold it everywhere but the United States...) in the 1980s. Well, they just had their chance. The car you see above is a Porsche 959 prototype built in 1986, and only one other running prototype still exists.
The 959 prototype can't be driven on public roads, as it carries no such certification. Somehow, we doubt that matters all that much to the new buyer - this one is probably going to be sitting in a collection. When the gavel finally fell, bidding had reached $400,000, plus a 10-percent buyer's fee.
Check out our high-res image gallery above to see this prototype up close, and scroll down below to watch a video of it crossing the auction block and for its official auction description.

Lanzante building 11 Porsche 930 restomods with actual F1-raced engines

In " Casino Royale," James Bond gets a lesson in tailored clothing when Vesper Lynd gives him a new dinner jacket. Bond tell her he already has a jacket, and Lynd replies, "There are dinner jackets and dinner jackets. This one is the latter." News from Lanzante makes us paraphrase that line in saying, "There are 911 restomods and 911 restomods." Lanzante's is definitely the latter. The English engineering firm is building 11 Eighties-era Porsche 930s with genuine TAG-branded Porsche engines that the McLaren Formula One team used to win 25 races. From 1984 to 1987, Porsche built a 1.5-liter turbocharged V6, branded as the TAG-Porsche TTE P01, for the McLaren MP4/2 and MP4/3; if the naming seems odd to cover four years, it's because McLaren raced the MP4/2B and MP4/2C in 1985 and 1986. The engine produced more than 1,000 horsepower in qualifying trim, and 750 hp in race spec. In its first three years on the grid, the engine powered McLaren to two Constructor's Championships, and three Driver's Championships for Niki Lauda and Alain Prost. During that time, McLaren built a prototype Porsche 930 with that TAG engine, but kept it so far out of sight that people spoke of it as a rumor. The English carmaker finally proved the rumor true a few years ago when it put the prototype on display in the lobby of its Woking headquarters. Enter Lanzante, which has a history with McLaren going back to at least 1995, when it prepped the Veno Clinic McLaren F1 GTR that won Le Mans that year. More recently, it built road-legal P1 GTRs called the P1 GT, and a one-off P1 Longtail. McLaren sold Lanzante the 11 engines for this run of monstrously overpowered Porsche coupes, and Lanzante showed off the first example at the recent Rennsport Reunion at Laguna Seca — news that somehow got lost in the general Porsche overdose and Moby Dick revival. Built just like the original McLaren-Porsche prototype, no one will think anything's astray with the new version's white bodywork and RUF wheels. The camouflage continues inside, where a pair of upholstered racing buckets might offer a small clue. The instrument panel gives things away, containing a tachometer branded "TAG Turbo" with a 9,000-rpm redline, and a water temperature gauge. Cosworth is restoring the engines for the program, and each of the 11 examples gets a plaque in the engine bay listing its engine's race history.