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Audi rumored to buy Alfa Romeo, officials deny it

For more than two years, Volkswagen has been making public statements about its willingness to buy Alfa Romeo and quadruple the Italian brand's sales, and for just as long, Fiat CEO Sergio Marchionne has replied with some version of "Mr. Piëch, drop it." According to a report in Ward's Auto, all that jousting might be over: it claims that sources close to both Marchionne and Audi CEO Rupert Stadler admit that the two are in talks for Audi to buy not just Alfa Romeo, but a production plant in Italy. In fact, a final deal could possibly include partsmaker Magnetti Marelli.
Against that backdrop, a report by German news weekly Stern quotes a Fiat spokesmen as saying it doesn't comment on rumors and an Audi rep has said flatly that "There is no substance in the news." If a sale is being arranged, the timing would seem to point to how eager Fiat is to raise cash to complete its major initiatives. Even though Alfa Romeo continues to delay its return to the US, it just showed off the production version of the 4C at the Geneva Motor Show (shown above) and said that preferred Fiat dealerships here would get them. Then there's Alfa's recently concluded deal with Mazda to develop a roadster based on the next generation MX-5 Miata - a deal that would seem to help both the Italian and Japanese brands.
The monetary issues are troublesome, though. Fiat is taking a beating in the European market and its weak-kneed balance sheet is delaying gotta-have-it products like the Jeep Cherokee. Fiat has been talking to banks about getting money to buy the rest of Chrysler and those financial institutions have also raised issues about debt and cash reserves, and the nasty game of chess Fiat is playing with the United Auto Workers (and now the court system about the portion of Chrysler it doesn't own) could end up blowing another hole in Marchionne's plans. It is possible that this could finally have convinced Fiat to at least see how serious Audi's parent company, Volkswagen, is about buying Alfa Romeo. Or it could be just another rumor.

Next-gen Audi Q7 shows off its wares ahead of Detroit

Audi has put the Q7 on a massive diet, trimming over 700 pounds. Meet what is sure to be one of the bigger debuts at the upcoming 2015 Detroit Auto Show. The next-generation Audi Q7 has been the subject of spy shots and conjecture for quite some time. After all, it was easily the oldest vehicle in the Audi range, having hit the market way back in 2006. But with this new model, Audi has comprehensively updated its fullsizer, adding some cutting-edge tech, updating some classic engines, and taking a whole lot out. As is the theme nowadays, particularly among large crossovers and SUVs, Audi has put the Q7 on a massive diet with a mix of ultra-high-strength, hot-shaped steel and aluminum, trimming over 700 pounds of body fat and lowering the Q7's weight to just under 4,400 pounds. This was accomplished while maintaining virtually identical dimensions to the current model. While Audi USA hasn't released its info on the Q7, the Euro-spec model will continue to offer a pair of engines that should be very familiar to US consumers, with a 3.0-liter, supercharged V6 gas engine and a 3.0-liter TDI V6. The European engines, though, have had their CO2 emissions halved, while actually increasing performance (we should expect similar from the US engines). The 3.0-liter TDI has been bumped up from 240 horsepower to 272 ponies, while torque is up from 406 pound-feet to 443. The 3.0-liter TDI has been bumped up from 240 horsepower to 272 ponies, while torque is up from 406 pound-feet to 443. This extra grunt has trimmed the 0-60 time from a leisurely 7.3 seconds down to 6.3, while the fuel economy has jumped up to 41.3 US miles per gallon, converted from the European cycle (so expect the EPA numbers to be a bit lower). The supercharged 3.0-liter, meanwhile, has been amped up to match the output of its application in the S4 sport sedan, jumping from 280 hp and 295 lb-ft to 333 ponies and 325 lb-ft. Once again, the 0-60 time falls dramatically thanks to the power bump and weight loss, dropping from 7.7 seconds to a far more zippy 6.1. The most exciting news is the long-rumored arrival of the Q7 E-Tron, a plug-in hybrid that's mated to a six-cylinder diesel engine and Quattro all-wheel drive. Audi claims this world-first production powertrain will return 138.4 US miles per gallon, emit less than 50 grams of CO2 per kilometer and allow the Q7 E-Tron to travel up to 35 miles on electric power alone.

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.