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Volkswagen profit jumps as it warns of a cooling auto market

FRANKFURT, Germany — Volkswagen says its profits jumped 44% in the third quarter thanks to a more profitable mix of vehicles in its lineup but warned that global car markets are slowing more than expected and lowered its forecast for annual sales. After-tax profit rose to $4.42 billion (3.98 billion euros) as revenues rose 11% to $68.27 billion (61.42 billion euros). The sales margin of 7.8% exceeded the goal of 6.5-7.5% as vehicles bringing higher profits took a larger share of sales. The Wolfsburg-based automaker pointed to the headwinds facing the industry by saying that it expects "vehicle markets will contract faster than previously anticipated in many regions of the world." It said sales would be "on a level" with last year's record of 10.8 million vehicles. Previously it had expected a slight increase. The company said its profits would be in the lower end of its forecast range. Global automakers are facing a slowdown in sales amid disputes over trade and from pressure in the European Union and China to develop and sell low-emission vehicles that require heavy investment in new technology. Ford and Renault have issued profit warnings in recent days, while Daimler, maker of Mercedes-Benz luxury cars, lost money in the second quarter and is expected to outline a cost-cutting strategy for investors on Nov. 14. Volkswagen is leading the push into electric vehicles in Europe by launching its ID.3 battery-powered compact car at prices it says will make zero local emission vehicles a mass phenomenon. The company was able to increase earnings in the quarter despite an 18% rise in spending on research and development.

Leno, Seinfeld and a Porsche 356/2 featured in latest CICGC

In the latest kaffeeklatsch known as Comedians in Cars Getting Coffee, Jerry Seinfeld pulls Jay Leno out of his garage for a trip to Jones Coffee in Pasadena, CA. The NBC funnyman we've lately seen driving two guest Porsches in his eponymous garage this time takes the passenger seat in a 1949 Porsche 356/2, one of early all-aluminum, hand-built coupes - still in 100-percent original condition - built in Gmund, Austria and nicknamed "Gmunds."
The comedy veterans have known one another for 35 years, so the episode is rich with stories of The Good Old Days. Leno says it is also the first time he's ever had a cup of coffee, and for obvious comedic reasons they start with the civet-stained beans made famous in The Bucket List. You can watch Leno take his first sip below, and have you haven't heard the joke about the goat and the anvil, scroll on down for a listen to that and one or two more jokes besides.

2014 Porsche Cayman S

A Blue-Blooded Valentine
I need you to understand what it's like to drive this car. I'm not talking about your ability to comprehend the words on this page or process the figures that surround the 2014 Porsche Cayman S, but rather what it feels like to take control of a car conceived, designed, engineered and manufactured to set your prefrontal cortex alight with all the glee a Zippo typically reserves for pine needles marinated in jet fuel. From the instant you put your tail in the driver's seat, the Cayman sets about impregnating your veins with a full and varied spectrum of ludicrous emotion. It's not like taking the family pickup to market, I can tell you that much.
For 2014, the next-generation Cayman features many of the same styling tweaks first displayed on the coupe's drop-top cousin, the Boxster, though a spate of mechanical changes, more power, less weight and better efficiency join the party to further differentiate this model from its predecessor. And while additions like rev-matched downshifts and electronic power steering help push the Cayman into a new era, one fact remains unchanged: This is one of the best driving cars on the market. Period. Bear with me and I'll try to explain exactly why that is.