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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.

Bugatti Chiron Super Sport 300+ limited to 30 units worldwide

Bugatti announced plans to end its record-chasing career on a high note by turning the 304-mph, long-tail Chiron into a limited-edition model. Named Chiron Super Sports 300+, it's an evolution of the standard car that promises to let buyers who find a long enough stretch of tarmac channel their inner Andy Wallace. The 300+ is all but identical to the Chiron that Wallace bravely piloted to 304 mph on Volkswagen's Ehra-Lessien test track in Germany in August 2019. Keeping it planted on its four wheels as it approaches speeds airplanes normally take off at required redesigning its aerodynamic profile. The 9.8 inches of carbon fiber added to the rear end immediately reveal it's not a standard Chiron, but the 300+ also receives tweaks to its front end (including vents chiseled above the wheels), and a reshaped rear diffuser for added downforce. The rear wing is notably fixed to reduce drag. While Wallace hit 304-mph in a stripped-out cabin loaded to the gills with electronic equipment, the version buyers will be able to add to their collection will come with a variant of the Chiron's interior made with model-specific materials. As always, customization will be the name of the game. Collectors will have the chance to work directly with Bugatti to create a one-of-a-kind car. The 300+ uses a 1,600-horsepower evolution of the Chiron's 1,500-horsepower, quad-turbocharged W16. This mammoth of an engine channels its power to all four wheels via a seven-speed, dual-clutch all-wheel drive system. The sprint from zero to 60 mph takes under 2.4 seconds, while its true official top speed hasn't been explored yet. Its Michelin tires were bench-tested at up to 317 mph. Bugatti will make 30 examples of the Chiron Super Sports 300+, and pricing starts at $3.5 million before taxes and options elbow their way into the equation. All things considered, that's a surprisingly reasonable sum; the standard Chiron carries a $3 million price tag. Bugatti began taking orders for the model after displaying Wallace's record-breaking car during a reveal event attended by clients all over the world, and several units were spoken for before dessert arrived. "They will be gone in the blink of an eye," company boss Stephan Winkelmann told Autoblog.

2022 Villa d'Este Concours d'Elegance Mega Gallery | The show in pictures

COMO, Italy — Held annually, the Villa d'Este Concours d'Elegance is, in many ways, Europe's version of the Pebble Beach Concours d'Elegance. It takes place in a beautiful location, and it brings together an impressive selection of rare and valuable cars. It's a real treat for the eyes, the ears, and, if you're into champagne, the palate. The 2022 edition of the show was no exception: About 50 cars were shipped to Lake Como from over a dozen countries, and it wasn't just the usual suspects. Sure, there were a lot of pre-war cars (including a couple of one-off models), but some of the icons that younger enthusiasts grew up with (like the Lamborghini Countach) were present as well. This year's event was split into eight categories: The Art Deco Era of Motor Car Design, The Supercharged Mercedes-Benz, How Grand Entrances Were Once Made, Eight Decades of Ferrari Represented in Eight Icons, "Win on Sunday, Sell on Monday," BMW's M Cars and Their Ancestors, Pioneers That Chased the Magic 300 KPH, And a design award for concept and prototypes. The jury gave the coveted "best of show" award to a 1937 Bugatti 57 S owned by Andrew Picker of Monaco, while the aforementioned classes were won by, respectively: The Bugatti 57 S, shown below, A 1936 Mercedes-Benz 540K Cabriolet, A 1956 Chrysler Boano Coupe Speciale, A 1966 Ferrari 356 P Berlinetta Speciale Tre Posti, A 1961 Porsche 356 B Carrera Abarth GTL, A 1972 BMW 3.0 CSL, A 1989 Porsche 959 Sport, And the Bugatti Bolide concept unveiled in 2020. Winning at Villa d'Este is a big deal: The cars are judged by a panel of highly experienced judges. No one gave me a scoring sheet, presumably out of fear that I'd award points to the late-model Fiat 600 lurking in the parking lot, but several cars that didn't win an award caught my eye. One is a 1934 Bugatti Type 59 Sports, a grand-prix racer that was once owned by King Leopold III of Belgium and that has never been restored — its patina is inimitable. Another is a 1961 BMW 700 RS. One of two built (the other is in the BMW collection), it's a tiny, ultra-light roadster related to the 700 and powered by a 697-cubic-centimeter air-cooled flat-twin tuned to develop 70 horsepower. It won several hill-climb events during the 1960s, and it's one of the rarest cars ever to wear a BMW roundel. Aston Martin's freshly-restored 1979 Bulldog concept was cool to see as well; check out the cassette player integrated into the headliner!