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Audi CEO says brand's EVs are almost as profitable as its other cars

After, oh, a hundred years or so of building vehicles primarily powered by internal combustion engines, automakers around the world have been and still are pumping billions of dollars into the development of electric vehicle technology. Everything from platforms and batteries to motors and the software to control it all requires untold hours of development, and that takes time and money. Fortunately, it's not going to take long for that massive investment to start paying off, at least according to Audi CEO Markus Duesmann, who told Reuters in an interview that "The point where we earn as much money with electric cars as with combustion engine cars is now, or ... next year, 2023. They are very even now, the prices." As a brand, Audi contributed more than a quarter of overall profit for the massive Volkswagen Group, which has such powerhouse brands as Volkswagen and Porsche among others. Under the Audi umbrella are Lamborghini, Bentley and Ducati, and it seems those high-end branches aren't going anywhere, at least for now. "These brands ... are very valuable very profitable brands, where we can even expand the synergy level in the future," Duesmann said in the interview. "There are no plans whatsoever to get rid of them." Despite the overall profitability of the brand, the ongoing global chip crisis is causing headaches. "We had a very strong first half in 2021. We do expect a much weaker second half," said Duesmann, who added, "We really have trouble." In fact, so serious is the trouble that the brand is forced into "a day-to-day troubleshooting process" to limit the chip-shortage damage. The good news for the automaker is that Audi has been able to boost its profit margin from 8% prior to the pandemic in 2019 to 10.7% in the first half of 2021. The bad news is that various chip shortages aren't expected to get a whole lot better over the rest of the year. Related video:

Steve McQueen's last Porsche headed for auction

Most people might be happy ordering a new car off a lot, but Steve McQueen was most definitely not "most people." The Hollywood icon was known to custom-order his cars. What you see here is the last car McQueen would ever order, and now it's going up for auction. This is a 1976 Porsche 911 Turbo Carrera (known to aficionados as the 930) that the actor had done up in Slate Gray, with sunroof, dual mirrors, a limited-slip differential, black sports seats, and a switch on the dashboard to kill the taillights in case he was being pursued at night. Chassis number 9306800408 is powered by a 3.0-liter flat six that's turbocharged but (in a rare early configuration) not intercooled. The air-cooled engine features Bosch K-Jetronic fuel injection and drives 234 horsepower through a four-speed to the rear wheels. McQueen ordered the 930 new from Bob Smith Porsche in Hollywood. He died a few years later, never having special-ordered another new car – making this the last of its kind. "This car is rich in history," said his son Chad McQueen. "This is the last of the McQueen cars, really. That's known. That's real." And it can be yours, if you place the right bid. Mecum Auctions has it on consignment for its upcoming event during Monterey Car Week, with a portion of the proceeds to benefit Boys Republic – McQueen's own alma mater. STEVE MCQUEEN'S LAST SPECIAL-ORDER PORSCHE TO BE OFFERED AT MECUM MONTEREY 1976 Porsche Turbo 930 Personalized by The King of Cool to Cross the Block Aug. 15 WALWORTH, Wis. – July 14, 2015 – The very last car special-ordered by The King of Cool—the late mega movie star Steve McQueen—will be offered for sale at the Mecum Daytime Auction in Monterey this Aug. 13-15 at the Hyatt Regency Monterey Hotel and Spa – Del Monte Golf Course. A portion of the proceeds from the sale of the 1976 Porsche 930 Turbo Carrera will be donated to McQueen's alma mater, the reform school Boys Republic. "This car is rich in history," says McQueen's son Chad. "This is the last of the McQueen cars, really. That's known. That's real." McQueen's untimely death in 1980 at age 50 made this 1976 Porsche 930, chassis 9306800408, the very last of his special-order cars. His insatiable and notorious need for speed and his affinity for fine automobiles meant always having the best sets of wheels, and his Porsche 930 is no exception.

Porsche recommits to Le Mans through 2018

Porsche is back at the forefront of sports endurance racing, and it has no intention of leaving anytime soon. The German automaker announced that it will stay in the LMP1 class of both the 24 Hours of Le Mans and the FIA World Endurance Championship through the end of 2018. So its rivals can look forward to a good three more years of heated competition at least. After winning at Le Mans a record 16 times, Porsche dropped out of competition for top honors in 1998. It returned to the front of the grid last year with the 919 Hybrid, winning the 6 Hours of Sao Paulo at the end of its debut season. Its greater victory, however, came earlier this summer when the revised version took a dominant 1-2 finish in the famous French endurance race. That put the team from Weissach in the lead for the World Endurance Championship, which it (spoiler alert!) further extended this weekend with another 1-2 finish in the inaugural 6 Hours of Nurburgring. "Motorsport is an important part of Porsche's brand identity – but not an end in itself. Racing has got to help the technology of future road going sports cars," said Porsche chief Matthias Muller in the statement below. "It was the revolutionary efficiency regulations that convinced us to return to top-level motorsport for the 2014 season. That we have managed to take the crown jewels of endurance racing in only our second year, with a one-two result in Le Mans in 2015 with our highly innovative and complex 919, is an outstanding testimony to the people in the Weissach research and development centre. The competition bears fruits and we see further potential for future synergy between the racing and road car programmes. This is why we have extended the programme." FIA World Endurance Championship (WEC) and 24-Hours of Le Mans Porsche confirms LMP1 programme up to end of 2018 Stuttgart. Porsche continues racing into the future with the 919 Hybrid: The board of Porsche AG has decided to extend the Le Mans prototype programme until the end of the 2018 season. With its ground-breaking concept – a downsizing turbo engine and powerful energy recovery systems, combined with an extreme lightweight design – the racing car with a performance of around 1,000 hp serves as a research laboratory for future sports car technology. Matthias Muller, Chairman of the Executive Board of Porsche AG, said: "Motorsport is an important part of Porsche's brand identity – but not an end in itself.