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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.

Bentley Bentayga crossover prototype keeps on strippin'

The Geneva Motor Show is over, and the stunning EXP 10 Speed 6 concept has had its moment in the limelight. But now it's back down to business for Bentley. That means working on getting its new Bentayga crossover to market, and from these latest spy shots, it seems that's exactly what the British automaker is up to. Pictured here wearing less clothing than ever before, the Bentayga looks pretty darn near ready for its debut. The pre-production prototype even has its full leather seats in place, with plastic covers to protect them as the development drivers (like the one trying his darnedest to block the shots) do their thing. Of course there are still some parts hidden from view, with thin foil covering the headlights, taillamps and rear quarter windows. There's also something weird going on with those gills on the rear door. And the wheels are likely to be replaced as the rest of the trim is installed. But by and large, what you see here is what the production version is expected to look like, sans the polish. Related Video:

A faster Bentley Bentayga Speed is coming

With 600 horsepower on tap, the Bentley Bentayga already claims the mantle as the fastest, most powerful SUV on the market. The latest reports indicate that there's an even faster, more powerful version in the works. After speaking with Bentley CEO Wolfgang Durheimer at the Beijing Motor Show this week, Auto Express reports that a Bentayga Speed is on the way. "If you're asking whether there would be Speed versions of the Bentayga eventually," said Durheimer, "then yes, you might expect that." Details, as you might have expected, remain unconfirmed at this point. However the latest Continental GT Speed packs 633 horsepower from its 6.0-liter twin-turbo W12 – 66 horses more than the standard twelve-cylinder Continental GT. And the Mulsanne's 6.75-liter twin-turbo V8 produces 505 hp in standard trim and 530 in Speed spec for a difference of 25 hp. If the Bentayga Speed follows a similar formula, we can expect a solid 650 hp or so. That ought to help push the SUV past 60 in less than its current 4.0 seconds, and on past its stated 187-mph top speed. The Speed version isn't the only variant of the Bentayga said to be in the works. We're also anticipating a diesel version as well as a hybrid. We wouldn't be surprised to see a lighter V8 model, too, as we have on the Continental. And a fastback model in the mold of the BMW X6 and company is also reportedly under consideration. Beyond the Bentayga, Bentley is said to be closely evaluating what to develop next. The choice is between the EXP 10 Speed 6 sports coupe concept on the one hand, and a smaller crossover on the other. The answer could depend heavily on how the Bentayga performs in the Chinese market. Related Video: