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Santa upgrades to Lamborghini Gallardo, spreads joy in LA

We understand. It's hard to slow down and really take in the holiday season, so it often comes and goes in a blur. That's especially so in Los Angeles, where almost everything moves fast and you feel like a face in the crowd. Determined to keep up with the fast pace and be noticed, one Santa Clause and his "elf" assistant decided to upgrade their "sleigh" - to a Lamborghini Gallardo (no reindeer needed).
We commend Santa's choice in the beloved Lamborghini and think Los Angelenos did notice him (though we're not sure he wanted to be approached by Freddy Krueger up there). Head below to watch Santa and his helper spread holiday joy with V10-powered goodness.

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 bringing exclusive supercar to Pebble Beach

The latest rumors emanating from the House of the Raging Bull say that Lamborghini is planning another million-dollar, ultra-exclusive supercar. Lambo is tipped to bring it to Pebble Beach next month, but it won't be showing it to the general public. Lamborghini has a proud recent history of turning its flagship supercars into something even more desirable. You'll remember the Reventon that was based on the Murcielago previewed the Aventador and was offered in a limited run of 20 coupes and 15 roadsters with a seven-figure price tag. The Bolognese automaker followed up with the Veneno, an even more extreme take on the Aventador. Three coupes and nine roadsters were sold, with prices exceeding $4 million. (There was the Sesto Elemento, but that was a smaller 10-cylinder model.) According to Motor Trend, this latest creation is expected to be based on the 12-cylinder Aventador, with more adventurous styling and likely a more powerful engine. You can bet it'll be produced in small numbers and command a seven-figure price tag. Production is likely to take place at the company's dedicated prototype development center that was opened three years ago. Now if you're wondering what's the point of bringing a new car to a public show if you're not going to show it to the public, consider that the public isn't the only ones that will be in attendance for the Monterey extravaganza. Some of Sant'Agata's top clients will also be on hand, and it's to those individuals that Lamborghini will be showing its latest creation. Lambo's been known to hold private previews in the past, and cameras were not allowed the last time this writer was invited to such an event. But that concept was unveiled to the public at a major auto show the following month, so here's hoping whatever Lamborghini is bringing to Pebble Beach will find its way onto the stage in Frankfurt come September as well. Related Video: Featured Gallery Lamborghini's Limited-Edition Supercars News Source: Motor TrendImage Credit: Lamborghini Misc. Auto Shows Lamborghini Supercars Pebble Beach