2011 Bugatti Veyron 16.4 8.0l "bleu Nuit" Grand Sport 315 Miles, One Owner on 2040-cars

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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

Bugatti breaks the 300-mph barrier in a longtail Chiron prototype

In one fell swoop, Bugatti reclaimed the top speed crown from Koenigsegg, and became the first hypercar manufacturer to break the 300-mph barrier. Andy Wallace, the French firm's official test pilot, recently set a speed record in a purpose-built, Chiron-based prototype on the Ehra-Lessien track in Germany. With 16 cylinders screaming in unison a foot away from his eardrums, Wallace reached 304.773 mph on Ehra-Lessien's 5.4-mile straight. To add context, the Veyron Super Sport topped out at 267.856 mph, and the Koenigsegg Agera RS stopped accelerating at 284.550 mph. Japan's Shinkansen bullet train normally runs at about 200 mph. The record-setting Chiron is faster than many small, Cessna-like aircrafts, and it can outrun a majority of the helicopters in the skies. Bugatti calls the record-setting car a pre-production version of a Chiron derivative. While technical details remain under wraps, we can tell its rear end has been extended in order to add downforce without creating drag. Round vents drilled into the top part of the front end reduce turbulence in the wheel wells, while peeking inside reveals a roll cage and a Sparco bucket seat for the driver. The prototype looks a little bit lower than a regular Chiron, too, but we'll have to wait until Bugatti publishes more information to find out what lies beneath the carbon fiber bodywork, and whether any of it will reach production. Italy's Dallara helped develop the special Chiron. Michelin contributed a great deal of expertise to the project, too. It provided Pilot Cup Sport 2 tires reinforced to handle 5,300 Gs while remaining street-legal. The company went as far as sending the four tires through an X-ray machine to scan for even the smallest imperfections. The run comes as a surprise, because the company's interest in setting speed records seemingly waned after it released the Chiron. Getting to 304 mph required a tremendous amount of effort, but Bugatti now has two additional bullet points on its resume. It's the first automaker to break the 300-mph barrier, and the Chiron stands out as the fastest car in the world.  We expect to learn more about Bugatti's record-setting run — including what's next for the record-breaking car — in the coming weeks as the firm continues celebrating its 110th birthday. In addition to the speed record, the celebrations have so far spawned the one-off La Voiture Noire and the limited-edition Centodieci.

Bugatti might make a sedan, but definitely won't do an SUV

Hot off the reveal of the 1,500-horsepower Chiron, one would think Bugatti president Wolfgang Durheimer would be sleeping well. Apparently, he has something else on his mind. "I can't get the idea for a four-door limousine out of my head," the Bugatti chief told Bloomberg at the Geneva Motor Show. "It's one of the options we might look into again as a possible next project." "Limousine" translates to sedan in German, the native country of Durheimer, and Bugatti has floated the idea of a four door before. The 16C Galibier was shown in 2009, and rumors of its production approval (or delay) percolated for years. If Bugatti were to proceed with a sedan, it would likely draw on the resources of parent Volkswagen Group, perhaps sourcing the underpinnings and other hardware. Meanwhile, the chances of Bugatti doing a sport utility vehicle are zero, Bloomberg reported. When asked, Durheimer responded with a precise "no." He did suggest Bugatti might use electrification for future cars, though he didn't elaborate. For now, Bugatti is basking in the attention generated by the Chiron, the much-anticipated successor to the Veyron. The Chiron bowed this week at the Geneva Motor Show and will go on sale this fall with a base price of $2.6 million. Related Video: Related Gallery Bugatti Chiron: Geneva 2016 View 16 Photos Design/Style Geneva Motor Show Bugatti 2016 geneva motor show