2012 Volkswagen Beetle - Classic 2.5l Hatchback 2d on 2040-cars

Auto blog

Weekly Recap For 4.22.16 | Autoblog Minute

Senior Editor Greg Migliore recaps the week in automotive news, including a look at the latest from the VW diesel emissions scandal, spy shots of the latest Honda CR-V, and more. Ferrari Honda Volkswagen Crossover Autoblog Minute Videos Original Video emissions scandal diesel emissions scandal

Volkswagen posts quarterly profit despite drop in sales

Volkswagen returned to profit in the third quarter as surging Chinese demand for luxury cars helped offset a 1.1% drop in vehicle deliveries due to the pandemic, sending its shares as much as 3% higher on Thursday. The German automaker's return to the black comes amid spiking coronavirus cases in Europe that led governments in France and Germany to order their countries back into strict national lockdowns on Wednesday. "The coronavirus remains a central problem," Volkswagen Chief Financial Officer Frank Witter said in a conference call with reporters. "This situation now is anything but relaxed." But Witter said the group expected the economic recovery to continue and did "not anticipate any nationwide lockdowns in larger markets." Witter said the takeover of U.S. truck maker Navistar International by Volkswagen's trucking unit Traton was an important acquisition, but the "current economic climate will not make this easy." Volkswagen reiterated it expects to post a profit for the full year, saying its business "recovered noticeably" in the third quarter as sales in China of premium vehicles, including Audi and Porsche sports cars, rose 3%. The quarterly performance was also aided by a series of cost-cutting measures launched earlier this year. Volkswagen said its net liquidity rose to 24.8 billion euros from 18.7 billion at the end of the second quarter. Excluding one-time items, third-quarter operating profit was 3.2 billion euros ($3.8 billion), down from 4.8 billion euros a year earlier, but up from a second quarter loss of 1.7 billion. In a note to clients, Jefferies analyst Philippe Houchois described the results as a "solid performance with strong cash, but relatively muted in the context of the (auto) sector recovery." Last week, German rival Daimler reported a record 24% jump in Chinese demand for its Mercedes-Benz cars, boosting its margins in the third quarter. Italian-American Fiat Chrysler Automobiles and Peugeot manufacturer PSA Group both also posted solid results this week. Witter said Volkswagen could not say for sure whether it would meet EU CO2 emissions targets this year, adding "it will be a tough race." At 1030 GMT, Volkswagen shares were up 2.9% at 129.20 euros. Related Video: Earnings/Financials Audi Bentley Bugatti Lamborghini Porsche Volkswagen

Recharge Wrap Up: VW's Last Mile Surfer, Apple's BMW i3

Volkswagen has unveiled its Last Mile Surfer. This little electric scooter – it folds up small enough to fit in the trunk and weighs just 24 pounds – will go on sale next year for around 1,000 euros ($1,100 US), according to VW chairman Martin Winterkorn, as reported by Autocar. Of course, we're wondering why you'd need to pay that much money to avoid walking a mile, but maybe we just haven't walked that far in an interested buyer's shoes. See more at Autocar. Did Apple want to use the BMW i3 as the basis for its own electric car? That's the word from the German magazine Manager, which says that Apple and BMW were talking about using the i3 shell for the plug-in iCar (or whatever) started last fall but are no longer actively taking place, but the two organizations have not totally closed off communication. Read more at Manager or at Green Car Reports. BMW is continuing its efforts to connect your car to your phone in interesting ways with the new EnLighten app. The idea here is to let your phone act as a bridge between alerts about traffic signals and the car, so that notifications can be displayed in the dash instead of on your phone. That should keep more eyes on the road and let drivers minimize those races to the next red light, which will save fuel. At least, it will do so in cities that broadcast that sort of signal information. Read more in the press release below. Traffic City Info Makes Driving in Cities Easier than Ever Woodcliff Lake, N.J. – July 27, 2015... The BMW Group announced today that it is the first manufacturer to bring the EnLighten App, by Connected Signals, into the car. Drivers of BMW Vehicles with iOS Devices will be able to see traffic signal data on the vehicle's display in real time. The EnLighten app makes driving in cities easier by helping the driver anticipate traffic signal changes, which can increase safety and help save fuel by avoiding unnecessary acceleration. The EnLighten app shows the current status of the traffic light in front of the car in real time as well as a countdown to when the signal will change. Based on the current vehicle position, as well as its speed, the EnLighten app offers a recommendation about whether or not to stop for the traffic light or proceed through. An audio alert notifies the driver about a pending change in the signal they are approaching.