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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 A3 G-Tron offers big range, few emissions

Audi is exploring a variety of sustainable transportation technologies beyond the traditional diesel, hybrid, plug-in and electric options, including the compressed natural gas A3 Sportback G-Tron that debuted today at the Geneva Motor Show.
The most interesting thing about this rather innocuous-looking A3 Sportback is that when run on Audi e-gas, the car becomes completely carbon neutral, emitting no more CO2 than was chemically input in this special fuel's production. Audi has already broken ground on a new plant - powered by renewable energy, of course - that uses electrolysis to produce e-gas, which could then be made available through any natural gas distribution network.

Audi S3 starts at $41,400, A3 Cabrio rings up at $35,600 and A3 TDI priced from $32,600

Audi has released the official pricing info for the all-new A3 TDI Sedan, A3 Cabriolet and the S3 Sedan, and the news appears pretty good all around. As usual, none of the following prices include Audi's unspecified-for-now destination charges.
The big news is the S3, complete with 292 horsepower, a six-speed dual-clutch transmission and Quattro all-wheel drive. Prices start at just $41,100, which is a decent savings over the more powerful, 355-hp Mercedes-Benz CLA45 AMG.
The new A3 TDI sedan, meanwhile, has a starting price of just $32,600. While you'll be certain to save some money on fuel, you'll be doing so without Quattro all-wheel drive. Still, the improved economy of the 2.0-liter, turbodiesel four-cylinder isn't priced too steeply, relative to the gas-powered A3's $29,900 starting price.