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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.

Rhys Millen will drive a Bentley Bentayga at Pikes Peak

Despite Bentley positioning its Bentayga SUV as a luxury vehicle, Bentley doesn't want us to forget that it's also a storied motorsport brand. Even the Bentayga can be used for record hunting, as Bentley is eager to show. It has hired two-time Pikes Peak hill climb winner Rhys Millen to take a Bentayga to the mountaintop. With the production SUV record in its sights, Bentley's Motorsport wing in Crewe has prepared a Bentayga for the attempt (which will be used as a benchmark for the Lamborghini Urus). The vehicle has been kept as stock as possible, as per the rules, and for safety reasons it features a full roll cage, a fire suppression system, racing seats and a harness. Still, Bentley has also enlisted exhaust crafters Akrapovic to give it a custom setup; Akrapovic has also done the exhaust for the Continental GT3-R. But the air suspension with its electric anti-roll control is kept stock, and the Pirelli rubber is also off-the-shelf stuff. The W12 engine's 600hp/664 lb-ft power figures also match the unmodified versions. We reported on Bentley's inclusion at the June 24 event earlier, but at that point the driver had not yet been announced. Millen, 45, from New Zealand, is reportedly the second-most-prolific Pikes Peak competitor in the world. The current production SUV record stands at 12:35.61, set by Paul Dallenbach with a Range Rover Sport in 2013. The Pikes Peak Bentayga's exterior has been finished with an unmistakable Radium Satin hue, but other than that and the carbon fiber body kit, it appears more like an everyday, run-of-the-mill Bentayga, not a wild Pikes Peak racer with a bookcase for a rear wing. Related Video:

Bentley designing SUV to reach 200 mph?

The 200 MPH Club was once populated entirely by exotic sports cars. These days it has expanded to include convertibles, sedans and even station wagons. But an SUV? Unthinkable, what with their aerodynamic profile approaching that of a barn door. Bentley, however, is out to change that with its forthcoming new sport ute.
Not only is the British automaker aiming to make its first SUV fully capable off road, it's also engineering it to be one of the fastest on the road as well. According to emerging reports coming in from the UK, Bentley is streamlining the SUV's shape with a lower roofline and reprofiled rear end and fitting it with advanced underbody aerodynamic aids in order to compensate for its over-six-foot width and get it up to the magic 200-mph mark.
Reaching out to Bentley for comment, its communications office wouldn't divulge such performance targets: "The SUV is in the engineering development stage, so unfortunately it's too soon to discuss performance figures," we were told via email. "It will of course have all the power and performance that one would expect from a Bentley!" If the information proves correct, however, at that speed, it would be able to keep pace with the faster members of the Continental family, but leave the Mulsanne flagship sedan (which is already approaching the size of an SUV) and its 185-mph top speed in the dust - not to mention the Porsche Cayenne Turbo S that is quoted at "only" 175 mph.