1996 Yellow Lamborghini Diablo In Great Condition. First Owned By Jerry Rice 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

Lamborghini's Huracan quicker than its costlier Aventador?

Car and Driver threw a leg over the Lamborghini Huracán and rode it hard all around the 16-turn Circuito Internationale Nardò, next to the banked oval that's brought us many a top-speed video. On the way to discovering the bull calf sweetly eclipses the Gallardo it replaces, CD also discovered that - comparing their own tests - it is faster from zero to 60 miles per hour than its paterfamilias, the Aventador.
Now, we should all know that 0-60 tests are an imprecise discipline, but CD's Eric Tingwall torched the sprint in the Huracán in 2.5 seconds - yes, faster than a whole lot of other very expensive super-coupes. In the magazine's last instrumented test of the Aventador Aaron Robinson ran 3.0 seconds, and for more Aventador perspective we can compare Motor Trend's 2.8 seconds, also scored at Nardo, Road & Track at 2.7 seconds and Lamborghini's estimated 0-62 mph time of 2.9 seconds. Any way you chop that up, 2.5 seconds beats it. A bit of a shock, then: Lamborghini lists the Huracán's 0-62 mph time as 3.2 seconds.
We'll get a more precise idea of the discrepancy when more tests come online, but for the moment - and in this one respect - we've got the $241,945, 602-horsepower Huracán showing its angry backside to the $397,500, 691-hp Aventador. Even if it remains true, though, we're not sure it matters; in a figurative case of Predator versus Alien, it's arguable that the only way to be wrong is not to own one.

Teen who stole Guy Fieri's Lamborghini gets life in prison [w/video]

If you're currently on a crime spree, we'd recommend against stealing the Lamborghini of a popular, bleached-blonde chef, lest you end up getting sentenced to life in prison. That's not to say 19-year-old Max Wade's life sentence was simply due to pilfering Guy Fieri's Lambo - an attempted murder charge for a drive-by shooting, among other crimes, also played a role - but we doubt it did much for his case.
You'll recall we last reported on Fieri's missing Gallardo Spyder in April of 2012, when it was reported that the Marin County Sheriff's Department and Mill Valley Police Department recovered the car from a storage container, that also housed the motorcycle Wade, then 17, used in the drive-by. Wade originally stole the V10-powered droptop from a San Francisco dealership in 2011, reportedly by rappelling onto the dealership's roof.
Wade was charged as an adult for his crimes, despite being a minor when they were committed, and could be eligible for parole at an unspecified date. That said, he's also facing a separate sentence of over 21 years, according to Boston.com. Scroll down for the news report from KPIX-5, the Bay Area's CBS affiliate.