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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.

Did the new Audi R8 just get outed on Instagram?

While we can't confirm it officially, what you're looking at above, according to Instagram user dreboog (Dre Boogie), may indeed be the next Audi R8. We're expecting Audi's revised supercar to get its official debut at the 2015 Geneva Motor Show, which would makes the timing of this leak make sense. You can compare this image with the spy shots we've already seen and draw your own conclusions, but it looks about right to our eyes. There are a few interesting tidbits worth noting, the most immediately obvious being the lack of the so-called side blades that were a polarizing styling element with the first Audi R8 first hit the scene but which have since become part of the coupe's signature look. We also see a front fascia that brings the low-slung coupe more in line with the German brand's current design ethos. Besides those readily apparent cues, there's not much to glean from this Instagram leak. We'd certainly expect more power from Audi's halo car, but just how much more than the 430 horsepower offered by the current V8, 525 hp from the V10 or 550 hp from the V10 Plus, we look forward to finding out. In the meantime, feel free to let us know what you think in the Comments. News Source: dreboog via InstagramTip: Andreas Design/Style Spy Photos Geneva Motor Show Audi Coupe Performance Supercars autoblog black

MT's Jessi Lang recounts her harrowing Autobahn R8 crash

Automotive enthusiasts know the name, face, voice and stories of Jessi Lang well. And if they don't, they should. The longtime Motor Trend video presenter and host of The J-Turn is a regular fixture on the automotive scene, and one of our favorite to watch. But a year ago, Jessi vanished from the scene. And we're sad to say she hasn't been kicking back enjoying umbrella drinks on the beach all this while. A year ago Lang went on a pilgrimage to Germany, driving a Porsche 911 GT3 on the Nurburgring and an Audi R8 modified by Abt on the Autobahn when the unthinkable happened. A car swerved out of its lane and into Jessi's path. A catastrophic collision ensued, and Lang was seriously injured. Jessi's been recovering from the multiple fractures and life-threatening lacerations ever since, and in her first appearance back on the net, has returned to tell her harrowing but courageous story. We wish her all the best on her long road to recovery, hope to see her back to her old self again soon, and invite you to watch the heart-rending story here.