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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.

On any given Sunday, there'll be a Bentley racing somewhere

Most of us would regard Bentley more as a luxury marque than a racing one. Sure, it dominated Le Mans in the 1920s with five wins (four of them consecutively), but that was a long time ago. It won again in 2003, but that was an exception – right? Bentley doesn't actually race much anymore, does it? The short answer is: yes, yes it does. The automaker rolled out the Continental GT3 a few years ago, following sister companies Porsche, Audi, and Lamborghini into the category. Now you may be scoffing something along the lines of "yeah but it's only GT3," but while you're doing that, Bentley Motorsport is steadily ramping up its racing program. This year we'll be able to see Contis racing in "more than 90 top-level GT races around the world." Count out the off-season that's now drawing to an end as the racing season gears up and you're talking about two races every week. Yeah, that's right: Bentley will, on average, be competing in two races each week somewhere in the world. Those races will be part of series like the Pirelli World Challenge here in America, the Blancpain Endurance Series in Europe, the ADAC GT Masters in Germany, the British GT Championship, and the GT Asia series. So wherever you live, there's bound to be a race coming up where you'll be able to see the Continental GT3 racing towards the finish line. Of course the Bentley Team M-Sport works squad won't be contesting all of those races itself. It has an array of customer and partner teams lined up for series around the world. Instead of fielding, for instance, a works entry in the Nurburgring 24 Hours this year, it'll deligate to the Bentley Team Abt Sportsline. But that's just one of the 90 races in which the Continental GT3 will compete this season, and we're looking forward to seeing how it fares in each. Related Video: BENTLEY ANNOUNCES LARGEST RACE PROGRAMME YET - Bentley Motorsport races across the globe in 2016 - Works team adds Blancpain Sprint Series to calendar - Wolfgang Reip becomes latest Bentley Boy 22 March 2016, Crewe – Bentley Motorsport will contest more than 90 top-level GT races around the world in 2016, as both its works and customer team programmes expand. The Bentley Team M-Sport works outfit will now enter the full Blancpain GT Series and welcomes Wolfgang Reip to the Blancpain Endurance Series line-up.

Bentley will race Pikes Peak for the first time — in a Bentayga SUV

Bentley is throwing its hat in the ring for the Pikes Peak International Hill Climb first time, saying it's targeting a new SUV race record with its Bentayga. The British luxury marque will enter the W12 version, not the slightly less-powerful V8 version that it recently unveiled, when the Race to the Clouds takes place June 24. The brand's motorsports department in Crewe, England, is working to develop the vehicle for the 12.42-mile assault under the direction of motorsports director Brian Gush. They'll be working with a 2017 model and its 6.0-liter W12 engine, which makes 600 horsepower and 664 pound-feet of torque and goes 0 to 60 in 4 seconds, its all-wheel-drive transmission, four-mode adjustable air suspension and its 48-volt active anti-roll system. A driver will be announced later. Bentley's motorsports efforts have mostly focused on GT3 versions of its Continental GT coupe, which have a 4.0-liter twin-turbocharged V8 powering the rear wheels and goes on sale in June, and on special-edition models like the Continental 24. So it'll be interesting to see how the motorsports crew tunes the Bentayga, which debuted back in 2015 as the brand's first production SUV and the fastest, most powerful entrant in its segment. The Broadmoor Pikes Peak International Hill Climb is a grueling race up the famed mountain near Colorado Springs, featuring 156 corners and a finish line at 14,115 feet above sea level. This year will be the event's 96th running.Related Video: Featured Gallery 2016 Bentley Bentayga: First Drive View 36 Photos Image Credit: Bentley Motorsports Bentley SUV Luxury Performance pikes peak bentley bentayga Sport Utility