2017 Bentley Continental Gt Gt V8 on 2040-cars

Auto blog

Volkswagen posts quarterly profit despite drop in sales

Volkswagen returned to profit in the third quarter as surging Chinese demand for luxury cars helped offset a 1.1% drop in vehicle deliveries due to the pandemic, sending its shares as much as 3% higher on Thursday. The German automaker's return to the black comes amid spiking coronavirus cases in Europe that led governments in France and Germany to order their countries back into strict national lockdowns on Wednesday. "The coronavirus remains a central problem," Volkswagen Chief Financial Officer Frank Witter said in a conference call with reporters. "This situation now is anything but relaxed." But Witter said the group expected the economic recovery to continue and did "not anticipate any nationwide lockdowns in larger markets." Witter said the takeover of U.S. truck maker Navistar International by Volkswagen's trucking unit Traton was an important acquisition, but the "current economic climate will not make this easy." Volkswagen reiterated it expects to post a profit for the full year, saying its business "recovered noticeably" in the third quarter as sales in China of premium vehicles, including Audi and Porsche sports cars, rose 3%. The quarterly performance was also aided by a series of cost-cutting measures launched earlier this year. Volkswagen said its net liquidity rose to 24.8 billion euros from 18.7 billion at the end of the second quarter. Excluding one-time items, third-quarter operating profit was 3.2 billion euros ($3.8 billion), down from 4.8 billion euros a year earlier, but up from a second quarter loss of 1.7 billion. In a note to clients, Jefferies analyst Philippe Houchois described the results as a "solid performance with strong cash, but relatively muted in the context of the (auto) sector recovery." Last week, German rival Daimler reported a record 24% jump in Chinese demand for its Mercedes-Benz cars, boosting its margins in the third quarter. Italian-American Fiat Chrysler Automobiles and Peugeot manufacturer PSA Group both also posted solid results this week. Witter said Volkswagen could not say for sure whether it would meet EU CO2 emissions targets this year, adding "it will be a tough race." At 1030 GMT, Volkswagen shares were up 2.9% at 129.20 euros. Related Video: Earnings/Financials Audi Bentley Bugatti Lamborghini Porsche Volkswagen

New Civic, FCA UAW Agreement, Frankfurt | Autoblog Minute

FCA reaches a tentative agreement with the UAW, Honda reveals the all new 2016 Civic, and the Frankfurt Motor Show dazzles us again.Senior editor Greg Migliore reports in the Weekly Recap edition of Autoblog Minute Weekly. UAW/Unions Bentley Honda Jaguar Porsche Tesla Autoblog Minute Videos Original Video FCA porsche mission e civic

Bentley Continental GT commemorating Pikes Peak win is one green machine

Back in June, the Bentley Continental GT set a production-car record for the Pikes Peak hill climb, and now there's a limited edition to celebrate. Maybe the wait was so the brand's Mulliner division could work up a batch of the car's special green paint, which Bentley calls Radium. The green hue is taken from the hill climb car's livery, and it appears not only on the body, but also on the Pirelli P Zero tires and inside as contrast stitching, floor mat edging, and embroidery of Pikes Peak on the headrests. The not-quite-matching color on the brake calipers is Bentley's Acid Green. Besides Radium, the model also is offered in black. The special edition also features Pikes Peak graphics on the front fenders, a carbon fiber body kit, a black roof panel, black side mirrors, and 22-inch wheels also in black. Buyers can opt for Bentley's "100" grille (honoring the brand's centenary year), as pictured here. Besides the Radium green accents, the interior also comes with carbon fiber and gloss-black trim. A graphic showing one of five different sections of the track appears above the glove box, along with the record time of 10:18.488. Bentley's rotating center display also is included along with comfort-spec front seats and deep pile floor mats. All of the cars will be fitted with the 626-hp W12 engine. Pricing for the Pikes Peak limited edition depends on buyer specification, so there's no official MSRP. Nor is there a specific model name. But Bentley is saying that only 15 cars with this special set of extras will be built, and even without a name, it shouldn't be hard to distinguish them from other Continental GTs.