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Former Ferrari F1 chief could be new Lamborghini CEO

The word on the street in Bologna is that Lamborghini is in for a changing of the guard. Current CEO Stephan Winkelmann is tipped to step down after 14 years at the helm in Sant'Agata, likely to move to another role at Audi. And in his place, the German automaker is anticipated to appoint Stefano Domenicali. Domenicali was formerly the head of Scuderia Ferrari, rising through the ranks at Maranello to succeed Jean Todt as team principal in 2008. He resigned in 2014 to be replaced first by Ferrari US chief Marco Mattiacci and then by Marlboro man Maurizio Arrivabene as the team has struggled to find its form again. Shortly after leaving Maranello, Domenicali took up a new position at Audi, where he was rumored to be working on the company's anticipated foray into Formula One with Red Bull. But after that program was shut down in the wake of the diesel emissions scandal, Domenicali is now tipped to move back to Italy to take over the supercar business. Stefano would be the second Domenicali to head an Italian performance brand under the VW/Audi umbrella, joining Ducati CEO Claudio Domenicali (they not believed to be related). The move would also be a particularly emphatic gesture to Sergio Marchionne. The Fiat Chrysler Automobiles chief has previously lost top lieutenants to Volkswagen, most notably Luca de Meo, who headed up VW brand's passenger car marketing department before taking over at Seat. While previous Ferrari chiefs Todt and Montezemolo came up through the racing department, Marchionne assumed the chairmanship in Maranello and brought in outside talent instead. Meanwhile Winkelmann has been in charge of Lamborghini since 2005, when he was appointed by Audi to run the company it had just acquired a few years prior. Under the tenure of the German-Italian executive, Lamborghini sales have risen from 1,600 units per year to over 2,500 last year. The introduction of the forthcoming Urus crossover, birthed under Winkelmann's leadership, is expected to more than double that overall figure. Given his success in transforming Lamborghini, it isn't likely that the Volkswagen Group will simply show Winkelmann the door. Word has it that he'll receive another posting at Audi, potentially taking over the growing Quattro GmbH division in Neckarsulm. The division is responsible for all of Audi's RS models as well as the R8 – the latter of which Audi sells as many units as the entire Lamborghini division does in a year.

Audi bringing matrix 'organic' LED concept to Frankfurt

Audi has announced that it's bringing a new concept to the upcoming Frankfurt motor show in September, and now it is teasing the taillights. They adopt organic light-emitting diode technology, which takes advantage of several benefits. For one, it uses a relatively low amount of electricity, between three and four volts. It's also incredibly thin, made up of two layers, each less than a thousandth of a millimeter thick. It casts no shadows, requires no reflectors or any other elements, and emits very little heat. Plus the lights can be formed into different shapes, opening up new possibilities for designers. This isn't the first time we've seen Audi focus on lighting technology, and in recent years it's showcased matrix LED and matrix laser headlights. The company runs through the history of the evolution of its lighting tech in the video above. We'll have to wait a little longer to find out what the team from Ingolstadt will be putting these new taillights on. Audi presents latest lighting technology at the IAA in Frankfurt - Matrix OLED technology makes its debut in a concept car at the IAA - Light attains a new level of homogeneity - Flat light sources open up new design possibilities Audi is presenting its next step in automotive lighting technology at the IAA in Frankfurt. The new Matrix OLED lights enable a previously unattainable level of lighting homogeneity, opening up further creative opportunities for design. As the leading brand in automotive lighting technology, Audi has systematically developed all aspects of OLED technology over the years. Matrix OLED lights combine high-tech engineering and design ideally – initial projects are currently underway to implement OLED technology in production tail lights. They are being shown for the first time in a concept car at the IAA. OLED is an English acronym for "organic light emitting diode." In each OLED unit, two electrodes – of which at least one must be transparent – incorporate numerous thin layers of organic semiconductor materials. A low DC voltage – between three and four volts – activates the layers, each of which is less than one-thousandth of a millimeter thick, to light them. The color is based on the molecular composition of the light source. In contrast to point light sources – such as LEDs – which are made of semiconductor crystals, OLEDs are flat light sources. Their light attains a new level of homogeneity, and its dimming is continuously variable.

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