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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.

Ford Mustang Mach 1 Spied, Audi debuted the 2017 TT RS in Beijing | Autoblog Minute

A quick recap of some of the weeks hottest stories. Eddie Sabatini reports on this edition of Autoblog Minute Weekly Recap. Audi Ford Autoblog Minute Videos Original Video mach 1 ford mustang mach 1

Next Audi Q7 to debut with electric turbocharger?

For years, the concept of an electric turbocharger was essentially a joke sold on eBay to boost power in your slammed Civic, but in the last five years it has moved from an idea on a piece of paper to a feasible reality. Audi has already toyed with a showcase of the cutting-edge tech in road cars with the RS5 TDI concept. Now, reports suggest an electric turbo may make it to the streets as soon as next year in the next-gen Q7 (spy shot pictured above).
"I can confirm we are working on the development of the e-boost definitely," said Ulrich Weiss, Audi's diesel engine boss, to Australia-based Drive. He didn't give an exact timeframe but hinted at sometime next year, possibly in the Q7. He also suggested the chance of an RS-branded diesel model in the vein of the RS5 TDI concept on the horizon, as well.
This tech isn't entirely new for the folks in Ingolstadt. Audi's R18 endurance racer already uses such a system to capture waste heat from the engine, converting it to electric power to further power the hybrid car. The RS5 TDI concept employs a similar idea with a 3.0-liter, twin-turbocharged V6 with an electric supercharger to make up for the turbo lag. It's able to pump out 385 horsepower and 553 pound-feet of torque and allegedly sprint to 62 miles per hour in four seconds.