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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.

Audi's latest design is a table clock

Audi and Porsche have more things in common than we can count. They're both German, of course, and have both enjoyed considerable winning streaks at Le Mans. Both have a tendency to put their (often turbocharged) engines at one extreme of the car or another, driving either the closest wheels or all four. Both tend to follow a brand-wide evolutionary design approach, focusing their energies instead on the engineering that goes under the bodywork. Both now find themselves under the same corporate umbrella, and now that they are, Audi has followed Porsche's lead in setting up its own design consultancy.
Like Porsche Design, Audi Design is now taking on projects for all manner of clients, from pianos to foosball tables. In this latest collaboration, Audi has designed a table clock for Munich-based watchmaker Erwin Sattler. The table-top clock houses a high-frequency mechanical movement in a foot-tall glass case that lets you see the intricate clockwork, held in place by two ruthenium clasps.
Unveiled in Switzerland at the Baselworld watch and jewelry show, the clock is now available to order. But while prices haven't been announced, don't expect it to come cheap: other Erwin Sattler table clocks typically sell for upwards of $10,000, and we wouldn't expect the new design to come at a discount. Scroll down below for the official press release.

Recharge Wrap-up: Smart metals, OTA updates, Rolls-Royce LNG ship

"Smart" metals could help engines reduce emissions and invigorate US business. Metallurgist and University of Wisconsin – Milwaukee professor Pradeep Rohatgi combines known metal alloys with materials like ceramics, nanoparticles, and recycled waste to produce strong, lightweight composites with self-lubricating properties that help internal combustion engines run more efficiently. Rohatgi hopes his startup, Intelligent Composites, and its products can help US foundries compete with production outsourced overseas. See the video above, and read more at Phys.org. Almost 203 million cars will be capable of over-the-air (OTA) updates by 2022, according to ABI research. While Tesla has the OTA firmware updates nailed down, other automakers will focus on software update capability. This will take the place of dealer-installed updates and - like Chrysler did after the Jeep hacking incident - updates sent to owners via USB drives. OTA updates will enhance vehicle security and reduce recall rates. Read more at Green Car Congress. European bus manufacturers have agreed upon a standardized charging interface for their electric buses. Irizar, Solaris, VDL and Volvo will use pantograph charging for "opportunity charging" and CCS plugs as the base for overnight charging and network communication. The manufacturers hope other bus makers and charging providers to join them in cooperation over standardized charging. Read more at Green Car Congress. The second Audi Autonomous Driving Cup will take place from March 22 to 24, 2016 at the automaker's Museum Mobile in Ingolstadt, Germany. The competition involves eight university teams implementing basic Audi software in 1:8 scale electric Audi Q5 models, and putting them through the paces of simulated real-world driving situations. The teams develop software architecture to use the suite of sensor to have the cars drive, park, maneuver in traffic and perform emergency braking autonomously. Teams also perform a freestyle event where they put the car through an additional task of their choosing. The winning team gets ˆ10,000, with smaller prizes for second and third place. The competition also gives the students the opportunity to showcase their skills in front of a potential employer. Read more at Green Car Congress. Rolls-Royce will provide the Liquefied Natural Gas (LNG) propulsion for an NSK cargo ship carrying fish food. The ship will deliver 2,700 metric tons of fish food to fish farms along the Norwegian coast.