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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.

Volkswagen's De Silva says next Scirocco will be 'completely different'

From our perspective, the reborn Volkswagen Scirocco is a handsome (if squat) little thing. Yet design-wise, it's always struck us as uncomfortably close to the Golf three-door hatchback with which it shares its basic underpinnings. That aesthetic kinship may be part of the reason why Volkswagen has steadfastly refused to import the Scirocco to North America, seeing as how the Golf doesn't regularly set the company's sales charts alight, and it's less expensive.
But that visual similarity might be about to change, says Walter De Silva, who recently told Australia's Car Advice that, "It must be completely different... we don't want to repeat the bodystyle of the Scirocco, we want to change that." Further, the Volkswagen Group's design boss says that the next-generation car isn't terribly far along in development yet - "at the moment, it's only a studio [project]... it's not defined." It's probably just as well, as the new seventh-generation Golf arguably borrows some of its design from the current Scirocco anyway.
So we should expect a much bolder, more differentiated design, right? Well, yes, no and maybe. Back in September, De Silva himself was quoted as saying that the era of flamboyant styling has passed, and that future VW designs will be simpler to better reflect the times and preserve resale value. So... how different could it be?

Which electric cars can charge at a Tesla Supercharger?

The difference between Tesla charging and non-Tesla charging. Electrify America; Tesla Tesla's advantage has long been its charging technology and Supercharger network. Now, more and more automakers are switching to Tesla's charging tech. But there are a few things non-Tesla drivers need to know about charging at a Tesla station. A lot has hit the news cycle in recent months with regard to electric car drivers and where they can and can't plug in. The key factor in all of that? Whether automakers switched to Tesla's charging standard. More car companies are shifting to Tesla's charging tech in the hopes of boosting their customers' confidence in going electric.  Here's what it boils down to: If you currently drive a Tesla, you can keep charging at Tesla charging locations, which use the company's North American Charging Standard (NACS), which has long served it well. The chargers are thinner, more lightweight and easier to wrangle than other brands.  If you currently drive a non-Tesla EV, you have to charge at a non-Tesla charging station like that of Electrify America or EVgo — which use the Combined Charging System (CCS) — unless you stumble upon a Tesla charger already equipped with the Magic Dock adapter. For years, CCS tech dominated EVs from everyone but Tesla.  Starting next year, if you drive a non-Tesla EV (from the automakers that have announced they'll make the switch), you'll be able to charge at all Supercharger locations with an adapter. And by 2025, EVs from some automakers won't even need an adaptor.  Here's how to charge up, depending on which EV you have:  Ford 2021 Ford Mustang Mach-E. Tim Levin/Insider Ford was the earliest traditional automaker to team up with Tesla for its charging tech. Current Ford EV owners — those driving a Ford electric vehicle already fitted with a CCS port — will be able to use a Tesla-developed adapter to access Tesla Superchargers starting in the spring. That means that, if you own a Mustang Mach-E or Ford F-150 Lightning, you will need the adapter in order to use a Tesla station come 2024. But Ford will equip its future EVs with the NACS port starting in 2025 — eliminating the need for any adapter. Owners of new Ford EVs will be able to pull into a Supercharger station and juice up, no problem. General Motors Cadillac Lyriq. Cadillac GM will also allow its EV drivers to plug into Tesla stations.