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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.

2013 Audi S3

Coming Soon To Our Shores With Two More Doors And A Trunk
The Audi S3 is not exactly a sales juggernaut, despite it being a bit of a legend for passionate fans of the small German premium genre. In most markets outside of Europe, people may consider such setups as the S3 three-door tested here, look at the price, and then think maybe they should just get a nice A4 sedan with greater practicality for similar cash. That certainly has been one reason Audi has never officially brought the S3 hatchback to the United States. And the 335-horsepower RS3 Sportback? Forget about it nearly everywhere but in Germanic regions, Switzerland and the UK.
All of which automatically turns the new S3 hatchback into an unattainable object of desire for many fans of the four-ringed brand. The good news, of course, for many markets not on the three-door or S3's dance card is that most of us will get a shot at buying the new S3 sedan that will be powered by the same drivetrain tested here. We reported heavily on the sedan version from the recent New York Auto Show and are convinced that there is much for North American shoppers to like.

2015 Audi A3 TDI Challenge

I officially gave up after 758 miles. The 15 or so miles leading up to this decision were spent in the right lane of Southern California's I-8 freeway, hazard lights blinking, climbing uphill at just over 40 miles per hour. After two days of sweating to the oldies (okay, a mix of SiriusXM Classic Rewind and First Wave), I had covered those 758 miles in a 2015 Audi A3 TDI on one tank of diesel fuel. And when I say sweating, I mean it quite literally. In order to maximize fuel efficiency, my co-driver and I kept the air conditioning off, even when the direct sunlight in the California desert had outside temperatures hovering around 90 degrees. I had been doing this hypermiling exercise for two days, the car was getting stinky, and I was ready to hear the sweet "thhhhhhhwack" of satisfaction that would finally come from peeling my sweat-soaked self off the A3's leather seat. Sexy, I know.
Audi had challenged me to drive 834 miles from Albuquerque, NM to San Diego, CA, on just one 13.2-gallon tank of diesel fuel. If you believe the EPA's highway fuel economy rating of 43 miles per gallon, this means I should have sputtered to a stop after 568 miles. But I went a grand total of 758 - that's 59.4 mpg - and I could have kept going. In fact, two teams made it the full 834 miles on their one allotted tank of fuel. That's over 63 mpg. That's twenty miles per gallon better than EPA estimates.
The TDI Challenge took me through three states over the course of two days, and the 834-mile journey wasn't just a simple highway cruise. I negotiated uphill climbs, long series of involving switchbacks through the mountains and elevations that ranged from 220 feet below sea level to nearly 8,000 feet above. I learned that super-crazy-efficient driving like this an incredibly challenging game that takes serious skill. But I also learned that if you're going to attempt to stomp all over the EPA's numbers, the Audi A3 TDI is one heck of a car for the journey.