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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.

Will Audi surprise us with an all-electric SUV?

Audi may be looking to get seriously competitive in the electric vehicle market, according to a report from Reuters. The company has plans prepared for a range of EVs that would compete with the likes of BMW and Tesla. In a market where innovation is seen as valuable, getting on board with electrification could help Audi avoid appearing out of step with the rest of the crowd (and the market), with analysts predicting a sharp uptick in battery-powered cars in the next several years. Building on the E-Tron line, which already includes the A3 E-Tron, Audi will begin offering an electric version of its R8 supercar in Europe next year. According to two confidential sources at Audi, the company also has plans for high-performance electric sedans and SUVs. It appears as though Audi is taking direct aim at Tesla with alternatives to the current Model S and the upcoming Model X SUV. Advantage: Audi? Without getting into too many specifics about such plans, the sources did confirm the existence of blueprints for an Audi Q8 E-Tron. Audi has said that any future electric cars would have a target range of 400 kilometers (about 249 miles), but previous reports suggest that the Q8 E-Tron could have a range of about 370 miles. That could be a serious challenge for Tesla. Advantage: Audi? All the German automakers have electric tricks up their sleeves. BMW has its i line, with the i3 making headway and the i8 expected to sell well. Mercedes-Benz has gotten into the game the B-Class Electric Drive. Also, its parent company Daimler has a stake in Tesla. Now, Audi appears poised to launch its own diverse electric fleet, and the next move might just be an SUV. And while this added competition might seem like tough news for Tesla, the proliferation of EVs, and the growing infrastructure that goes along with it, is more likely a tide that raises all (electric) ships - something that Elon Musk seems to understand very well.

Audi sees room for TT family, including possible crossover and superlight models

With the third-generation Audi TT slated for a debut at the 2014 Geneva Motor Show in just a few weeks time, we've received some interesting news out of the United Kingdom. Speaking to the crew at Top Gear, Chief Engineer Ulrich Hackenberg made some interesting statements about the next TT, noting that he likes the idea of a production Allroad Shooting Brake.
"I can imagine the TT has much more potential than we have used up to now. That's why we did this Allroad [Shooting Brake] Concept. The trend is to smaller crossovers. So for example you do a crossover TT. It would have a big group of fans," Hackenberg told TG.
That makes it almost sound like Audi is trying to expand one popular, fashion-forward model into a wildly different niche, like Mini did moving from Hardtop to Countryman (or perhaps more appropriately, the Paceman). We'll reserve judgement, if only because the Allroad Shooting Brake was one of the more popular concepts at the Detroit Auto Show, making our Editors' Choice list.