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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.

VW Golf R pre-order sells out in less than 11 hours

Volkswagen fans had to be pretty quick if they wanted to ensure their pre-order for one of the first 500 units of the 2015 Golf R to enter the US. The German brand opened the books online at at 12:01 AM EST, and according to company spokesperson Leigh Anne Sessions speaking to Autoblog, by around 10:30 AM EST all of them were snapped up. VW's pre-order page currently shows these vehicles as no longer available, and the company confirms the news on Twitter, as well. There's still a chance to get an early Golf R by signing up for the waiting list and hoping one of the 500 orders falls through. VW Customer Care will contact people if there's an opening. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This entire allotment of the Golf R comes in Lapiz Blue Metallic paint with VW's adaptive damper system, navigation, a six-speed dual-clutch gearbox and more. To further sweeten the pot, the company is also giving these folks a watch, key chain and certificate with their vehicle's VIN. The 500 models were priced at $39,090, plus $820 destination and delivery, but only $500 was required to reserve one online. The amount was refundable if a person backed out.

VW adding particulate filters to gas engines

Volkswagen is working hard to overcome the PR disaster that is its diesel emissions scandal, and part of its efforts is focusing, weirdly, on petrol engines. Starting in June 2017, the embattled German automaker will add particulate filters to the gas-powered Volkswagen Tiguan and Audi A5. The change will eventually impact nearly every direct-injected gas engine the VW Group makes. Audi? Particulate filter. Seat? Particulate filter. Even Bentley is going to get the tech, all in a bid to reduce soot emissions by 90 percent. In fact, by 2022 VAG expects 7 million of its vehicles to boast the emissions-cleaning tech, which has long been a fixture on diesel engines. "Following increases in efficiency and lower CO2 output, we are now bringing about a sustained reduction in the emission levels of our modern petrol engines by fitting particulate filters as standard," Volkswagen Group research and design boss Dr. Ulrich Eichhorn said in a statement. "In the future, all models will be equipped with the latest and most efficient SCR catalytic converter technology." VW's initial rollout focuses on the 1.4-liter, turbocharged Tiguan and the 2.0-liter, turbocharged A5. Considering the popularity of the 2.0-liter across the VW range, we'd expect it's only a matter of time before VW expands its particulate filters tech to additional gas-powered vehicles. Related Video: