2003 Volkswagen Passat Gls Sedan 4-door 1.8l on 2040-cars

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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

Final Volkswagen Eos to leave the plant in May

Volkswagen has made no secret of its plans to wind down production of the Eos hardtop convertible, and the automaker has already celebrated the model's retirement in the US with the Final Edition (pictured above). However, the company now has an actual time for that end to come. The final Eos rolls off the line from the VW factory in Portugal in May, according to Germany's Automobilwoche, and European customers have until March 27 to get any final orders in. The company has no plans to offer a successor, it previously indicated. After about nine years of production and some 230,000 made, the Eos proved to be a success, at least in its home market of Germany. A VW spokesperson told Automobilwoche it was the country's bestselling hardtop convertible at one point, but customer preferences have changed toward preferring soft-top models. That switch spelled doom for the Eos. Drivers who want some wind in their hair still have some choices in the VW lineup. The Beetle Convertible remains on sale in the US, and Europeans also get the droptop Golf. Featured Gallery 2015 Volkswagen Eos Final Edition: Quick Spin View 18 Photos News Source: AutomobilwocheImage Credit: Copyright 2015 Jonathon Ramsey / AOL Plants/Manufacturing Volkswagen Convertible portugal

2020 Virtual Geneva Motor Show Editors' Picks

There may not have been an actual Geneva Motor Show this year, but there were still loads of car reveals that happened the week that the show would have happened. So we still wanted to highlight what our favorites of the would-be show. Our list of cars seemed to match the theme of the reveals, too, highlighting over-the-top supercars and forward thinking electric vehicles. Scroll down to see our favorites. Fifth Place: Aston Martin V12 Speedster - 21 points Managing Editor, Greg Rasa: Astons are works of art, and this one's ready for the Louvre. The design nods to Aston history are nifty. It looks like a jet fighter, except those have canopies. Not sure what 186 mph would be like in this, but don't try it in summer when there are bugs. Contributing Editor, Joe Lorio: Admittedly, this one is a little silly. A $950,000 sports car with no roof? A 700-hp two-seater with no windshield? But the offerings at the Geneva auto show have always tilted toward absurdity, and Aston’s V12 Speedster is endearingly outrageous as a fighter plane for the street. Third Place (Tie): Volkswagen ID.4 - 26 points Senior Producer, Chris McGraw: I don't have much to say about this other than I am a huge fan of more EVs coming to the market, which is why two-thirds of my picks are electric, including the ID.4. Producer, Alex Malberg: Any new fully-electric crossover is a vote for me. The fact it doesn't look terrible and VW will be including AWD later are bonuses.  Third Place (Tie): Alfa Romeo Giulia Quadrifoglio GTA - 26 points Road Test Editor, Zac Palmer: Hard to argue with the logic of this one. The Giulia Quadrifoglio is already the best driver in this class of hot sedans, so why not extend the lead with a special model. That wing is Type R levels of high, and I completely approve. Associate Editor, Byron Hurd: Love this car. Love it, love it, love it. It's beautiful, aggressive and fast. I'd take it over an M3 or C63 any day. As cool as the GTAm is, though, I'd rather stick to the four-seat GTA. Something about a four-door car with two seats just doesn't really work for me. I haven't alienated ALL of my friends quite yet. Second Place: Hyundai Prophecy - 35 points Senior Editor, Green, John Snyder: I get whiffs of the Genesis Coupe from this sleek concept. I like the focus on form, with interesting details to discover if you look for them. West Coast Editor, James Riswick: Does it look like a Porsche? Sure, but Porsches look neat.