2019 Audi Q8 Premium on 2040-cars

Auto blog

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.

Porsche wins the 2015 24 Hours of Le Mans

The question going into this year's 24 Hours of Le Mans was whether or not the Porsche 919 Hybrid would be able to combine its qualifying pace with race reliability. After battling neck-and-neck with Audi's R18 for most of the race, the answer is a resounding yes. Not only did Porsche drivers climb the first two spots on the podium, they did so without any major mishaps on track. This win is the first overall trophy for Porsche since 1998. Audi previously won the last five races, and 13 of the last 15. Corvette also returned to the winner's circle, with the No. 64 C7.R taking winning the GTE Pro division. The victory is the first class win for Corvette since 2011. KCMG won the LMP2 class in ninth overall. With 45 minutes to go the No. 98 Aston Martin crashed out of first place in GTE Amateur, giving the class win to SMP Racing's Ferrari and second place to the Patrick Dempsey Racing Porsche 911 RSR. For the full list of official results, click here. The GTE Pro class proved to be just as exciting as the P1 class, with a four-way battle for first after four hours into the race. For most of the race, the battle at the top went back and forth between the two German manufacturers. An tire puncture in the No. 7 Audi gave up the lead to Porsche, and moments later a crash forced the No. 8 into the garage. But a three-minute replacement of the front and rear bodywork kept the Audi in contention. As the race wore into the night, Porsche maintained a slightly faster pace than Audi. Nick Tandy took the lead on Lap 253 early Sunday morning, and car No. 19 never gave up the top position. The win is the first for all three drivers of the No. 19 – Nico Hulkenberg, Earl Bamber, and Nick Tandy. A lap behind in second was the No. 17 Porsche. The Audis fought reliability problems late in the race but still finished third with the No. 7 R18. The GTE Pro class proved to be just as exciting as the P1 class, with a four-way battle for first after four hours into the race. As the Aston Martin cars dropped away, the lone Corvette Racing entry took over, followed by a charging AF Corse team Ferrari 458 Italia. The Corvette and Ferrari continued to trade places in the final hours until gearbox trouble forced the No. 51 Ferrari out of contention. It was eventually passed by the other AF Corse car, No. 71. Nissan experienced all the pain of a first-year effort with its front-wheel-drive GT-R LM Nismo.

Race Recap: 2013 Twelve Hours of Sebring, cakewalk up front, grindfest out back [w/spoilers]

This year's 12 Hours of Sebring wasn't exactly a foregone conclusion because we're still talking about racing, and anything can happen when the speeds are as high as the adrenaline and the desire. But we're still talking about Audi bringing it's two top-spec racers - and its huge budget and its nearly neurotic attention to detail - to a race that it uses as a test bed for The 24 Hours of Le Mans and as a way to open the endurance racing season with a victory.
Besides, 12 hours is a long time, especially at Sebring, and things didn't go all Audi's way. On top of that, although it was a pretty quiet race, behind the Audis things got even grimier, with plenty of battles, plenty of mechanical issues, and the new BMW Z4 GTE and Viper GTS-R being race tested. Oh, and that brand new chromed-out DeltaWing...