1961 Porsche 356b Base 1.6l 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

Porsche rules out Macan, 911 hybrids

Believe it or not, between the 918 Spyder, the Cayenne and the Panamera, Porsche offers more plug-in hybrid models than any other brand. Yes, Porsche. But don't expect that trend to continue. At least, not in the immediate future.
According to Top Gear, the E-Hybrid powertrain in the Cayenne and Panamera is too big to fit into the smaller Macan. A future hybrid system could be small enough to fit, but with the current technology still fresh, that'd still be some ways down the twisting road.
It stands to reason, then, that if the system wouldn't fit in the Macan, it wouldn't fit in the Boxster or Cayman, either. But what of the 911? Surely Porsche would like to stick it to BMW and its new i8, and proved it could do a hybrid 911 when it rolled the GT3 R Hybrid (pictured) out onto the race track over four years ago. But Zuffenhausen is reportedly in no rush to put that idea into production - not for the current 911 and not for the next one, either.

'Born of a Blue Sky' brings the Amelia Island Concours to you

The Amelia Island Concours d'Elegance has more clout every year and is getting a reputation as Pebble Beach minus the madness. Held in March this year, it celebrated Ducati and the 50-year anniversaries of Lamborghini, the Corvette Sting Ray, Porsche 911 and the Ford GT40.
Justin Lapriore was there, and seemingly everywhere, getting footage of the various wares on display on the lawns and the sand and the runway. The resulting video, Born of a Blue Sky, is a 16-minute survey of some of the finer sights and plenty of engine sounds. Check it out below.