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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.

Volkswagen Group previews its wares on eve of Geneva show

The Volkswagen Group is comprised of 11 brands producing 240 vehicles across 49 factories throughout the world. So the best way to show off the range of the VW family is to cram a few thousand journalists and VIPs into a massive makeshift stand to outline the Group's goals, what's in the pipeline and what you'll be able to buy later this year.
To that end, VW pulled out all the stops on the eve of the 2012 Geneva Motor Show, bringing along 10 vehicles from across the range. We'll be delving into the details of each over the next two days of show coverage, but before that happens, you can read all about what we saw tonight from the cheap seats after the break.

Bentley Bentayga by Mulliner is a one-off special edition with ties to horse racing

Not long ago, we featured the Bentley Bentayga Field Sports by Mulliner, Bentley's even more lavish companion that often adds a special touch to production Bentleys; earlier on, there was even a version aimed at falconers. Here's another one-off Bentayga special edition that looks just as ostentatious, simply called the Bentayga by Mulliner. Bentley says this Mulliner version has been inspired by horse racing, and it's been created to commemorate Bentley's partnership with racetrack operator The Jockey Club at the Cheltenham Festival. It has to be said, the Bentayga looks far better by itself than towing a horse box on the highway. The paintwork is a variation on British Racing Green, on this occasion called Spruce, and the cabin has been finished with a combination of saddle-colored leather on the seats and special tweed on the doors. The veneer is burr walnut, treated to resemble woodwork at The Jockey Club's private rooms, and branded Mulliner. As well as Cheltenham Racecourse, The Jockey Club operates 14 other horse racing venues in the UK, and it was founded all the way back in 1750. The 21" wheels on the Bentayga by Mulliner are the same, partially black ones that were fitted on the Field Sports. Related Video: Featured Gallery Bentley Bentayga by Mulliner Image Credit: Bentley Auto News Aftermarket Bentley SUV Luxury bentley bentayga Mulliner