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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 Panamera Turbo S vs Ariel Atom Supercharged in unlikely drag battle

David versus Goliath battles are always an enticing proposition, because they offer the chance to watch scrappy underdogs take on their bigger rivals. Evo has set up just such a battle with its latest drag race between the minimalist Ariel Atom 3.5 Supercharged (Ariel Atom 3 pictured below) and the plush Porsche Panamera Turbo S.
The two cars couldn't be more different. The Atom personifies Lotus founder Colin Chapman's well-known axiom: "Simplify, then add lightness." Most of the car doesn't even have a body; it's just an exposed frame with a 310 horsepower supercharged Honda four-cylinder mounted behind the driver. On the other side, there's the Panamera Turbo S. In the latest version, it packs 570 hp and 553 pound-feet from its 4.8-liter twin-turbo V8 and it features all-wheel drive. Of course, all of that comes with a significant weight penalty.
Off the line, the differences are even more apparent. The Atom doesn't have any of the Porsche's technological wizardry, so launching it challenges the driver to build the revs and let out the clutch just right. The car screams like a banshee as it goes, though. The Porsche is the exact opposite. Its launch control system lets the driver hold down the brake, get on the throttle and accelerate away in just the right way.

Listen to the Porsche Macan's exhaust note ahead of its LA debut

As if we need further proof that the Porsche Macan won't just be another small CUV, it'll be a small Porsche CUV, the German automaker has released a video of the vehicle's raucous exhaust note. In short, the Macan will sport a far racier soundtrack than most of its competitors.
The raspy sound coming from one of the Macan's two turbocharged V6 engines sounds great (the video isn't clear as to whether we're listening to the base 3.0-liter or the Turbo model's 3.6-liter engine), and it's accompanied by a nice crackle on overrun. It isn't like a 911 or other flat-six model, but it is more or less what we expect a Porsche to sound like. We'll have all the details on the newest member of the Porsche lineup when it debuts later this month at the 2013 Los Angeles Auto Show. Scroll down for an official press release from Porsche, as well as the video of the Macan, and be sure to turn your speakers up.