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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.

New Prius, Bentley Bentyaga, Rolls-Royce Dawn | Autoblog Minute

Bentley and Rolls-Royce introduce new luxury vehicles and Toyota revealed its latest Prius. Autoblog Senior editor Greg Migliore reports on the Weekly Recap edition of Autoblog Minute. Bentley Rolls-Royce Toyota Convertible SUV Hybrid Autoblog Minute Videos Original Video bentley bentayga rolls-royce dawn

Bentley celebrates its founder with the Mulsanne W.O. Edition by Mulliner

July 10, 2018, marked the beginning of Bentley's centenary celebration. We can look forward to a year of commemorations, starting with the Mulsanne W.O. Edition by Mulliner, limited to 100 units. The sedan, available in standard, long-wheelbase, and Speed versions, celebrates founder Walter Owen Bentley and his 1930 8 Litre. The founder's personal car, the last vehicle he designed for his company and the second example off the production line, wore a coachbuilt body from Henry Jervis Mulliner & Co. That's the same Mulliner firm that personalizes Bentleys to this day. Walter Owen didn't get to enjoy his "ultimate expression of automotive engineering" for long; financial troubles forced him to sell it in 1931. Bentley bought the 8-Litre in 2006, and part of the "sympathetic" restoration meant replacing the crankshaft. That crank is the central feature of the W.O. Edition Mulsanne: Bentley cut the crankshaft into 100 pieces, and will place each piece inside a custom, illuminated cocktail cabinet in the rear quarters of the 100 special Mulsannes. Four different woods and aluminum create a marquetry scene that frames a glass display with the emblematic crankshaft. Around that, the show vehicle gets Heritage Hides in Fireglow, with Beluga details and stitching, Dark Stain Burr Walnute veneers, and Fireglow lambswool carpets. The exterior's drenched in Onyx, with Beluga Black wheels, accessorized by a chrome hood strip, optional chrome grille and surround, and discrete special edition badging. Customers can, naturally, option their own W.O. Edition Mulsannes any way they wish. Bentley's chosen to skip Goodwood as the reveal of this particular treat. The public unveiling comes on our shores, at next month's Monterey Car Week, on Aug. 24. Related Video: