2017 Porsche Boxster on 2040-cars

Auto blog

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 responds to PETA after tiger cub displays at Macan dealership events

Porsche has found itself in the good graces of People for the Ethical Treatment of Animals, which is pretty odd considering it's the only brand we know of that offers leather-lined vents. The activist group is praising the sports car manufacturer's handling of reports that some of its dealerships were set to feature tigers or tiger cubs at the local launch events for the Macan. Apparently, "macan" is the Malay word for tiger, which explains the connection between a highly touted crossover and a jungle cat.
A Tampa, FL dealership already displayed some three-week-old cubs, with PETA saying tigers for display should be at least eight to 12 weeks old. Even then, the group argues that the animals can suffer due to stress, malnourishment, neglect and a lack of veterinary care. The group brings up legal concerns, as well, arguing that if one of the cubs bit a customer, the dealership could be held liable (we're no big cat experts, but it seems unlikely a three-week-old cub could do that much damage).
Porsche's PR department quickly reacted to PETA's claims, with Vice President of Marketing Andre Oosthuizen, telling the group that Porsche is concerned about the "welfare of any animal, large or small, wild or domesticated." Oosthuizen's statements were reported in an official PETA blog.

Porsche 959 Prototype started it all

While Porsche was unveiling the new Nürburgring-dominating 918 Spyder downstairs in Hall 3 here at the Frankfurt Messe, there was another Porsche supercar quietly and discretely on display upstairs in the same hall. That, of course, was the 959. But not just any 959: this was the original Gruppe B prototype.
The 959 was first developed as a rally car in the early 80s to compete with the likes of the original Audi Sport Quattro S1, Ford RS200 and Lancia Delta S4. But Zuffenhausen soon saw its potential as a production road-going supercar, emerging as a technological marvel to challenge the decidedly linear approach of the Ferrari F40. It still stands as a groundbreaking supercar in its own right, but also lead to the first all-wheel-drive 911 Turbo and set the stage for the Carrera GT and aforementioned 918 Spyder that followed to cap the top of the evolving Porsche range.
This original Gruppe B prototype, which presaged the production 959, packed a 450-horsepower 2.8-liter twin-turbo flat-six into an even sleeker form than the final version that followed. We caught up with it on display as part of a display of 80s German classics, of which this 959 prototype immediately stood out as the pick of the proverbial litter. Check out the hotness in the high-resolution image gallery above.