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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.

VW makes $23K on every Porsche sold, more than Bentley or Lamborghini

It's a good time to be in the luxury car business. In Volkswagen Group's financial report for the 2013 fiscal year, it is revealed that that Porsche enjoyed an operating margin of 18 percent. That means the Stuttgart brand made on average about $23,200 per car sold, according to BusinessWeek. Bentley wasn't far behind, and Audi (which was combined with Lamborghini) posted a 10.1 percent margin. This compares to only around 2.9 percent for the Volkswagen brand.
"Luxury brands are on fire," said Dave Sullivan, an industry analyst at AutoPacific. He said that the average profit margin is between six and eight percent. Brands like Porsche and Bentley have the benefit of competing in rarefied markets. Buyers looking at one their vehicles have fewer models to shop against and don't care as much about price. They can also charge more for options, which further boosts income, according to BusinessWeek.
In a way, we should be more impressed by the continued success from Audi. Its models generally have direct competitors in every segment from the other premium automakers. Plus, their buyers aren't the captains of industry who are shopping for a Bentley. Still, the Four Rings is leading rivals in sales so far this year.

Bentley putting Mulsanne-based Azure, Brooklands back on the table [w/poll]

Big plans are afoot at Bentley. The quintessentially British automaker has just about signed off on the final version of its new SUV, and will surely roll out more versions of the Continental in the coming years, but that's not all. It's said to be considering a new sports coupe smaller than the Continental GT, but the latest reports coming in from the UK suggest that it also has plans for the Mulsanne's platform.
Currently, the Mulsanne is only available in one configuration, but Bentley is widely expected to be bringing a new, more powerful Mulsanne Speed to the Paris Motor Show this fall with around 550 horsepower. That's not all, however, as word comes in that the Flying B marque is planning to re-introduce both the Azure and the Brooklands as competitors to the Rolls-Royce Phantom DHC and Phantom Coupe, respectively.
For those who don't remember, the Azure and Brooklands were a pair of two-doors based on the Arnage that preceded the Mulsanne at the top of Bentley's range. The Azure was a convertible and the Brooklands a fixed-roof coupe, both of them larger than the Continental GT and powered by the company's evergreen (yet decidedly un-green) 6.75-liter V8.