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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 scores 100th LMP win

Loïc Duval, Tom Kristensen and Allan McNish took the No. 2 Audi R18 E-Tron Quattro to victory at this weekend's Six Hours of Austin at the Circuit of the Americas, marking the 12th victory for the R18 body and the 100th LMP overall victory for Audi since 2000. The milestone victory also saw a second R18, driven by Marcel Fässler, André Lotterer and Benoît Tréluyer, take third place.
Audi's LMP boss, Chris Reinke pointed out the poignancy of snagging the brand's 100th victory in the US, saying, "For Audi, it's a very special result because it was the 100th victory in LMP racing. We celebrated the first victory int he USA as well, in 2000. What could be sweeter than achieving this milestone here?" It wasn't all easy going, though, as the team was racing at COTA for the first time, and the No. 1 car had more than a few difficulties.
This victory marked the 12th for the R18 since it started racing in 2011. For comparison, the R15 TDI only managed three victories between 2009 and 2011, and the R10 TDI took 22 wins between 2006 and 2008. Those cars are overshadowed by the original Audi R8 racecar, which won 63 races between 2000 and 2006. Take a look below for the full press release from Audi, and additional quotes from team members.

2013 Audi RS6 Avant [w/video]

Latest, Greatest Autobahn Bomber Will Not Be Denied - Except To Us
Back in 2008, I was fortunate enough to test the second-generation Audi RS6 Avant in southern France on the supremely well-sorted circuit at Le Castellet, a.k.a. Paul Ricard. I was thrown out there with the 572-horsepower bi-turbo 5.0-liter V10-equipped behemoth behind one of Audi's DTM pros and was convinced in short order that the flaming hippo in my hands was going to get the better of me on one or another of the track's tight esses. I made it out alive and invigorated, of course, but knew that that RS6 Avant was the heaviest that these thunderwagons should ever be allowed to get. At around 4,650 pounds with driver aboard, it was just way more lateral momentum at speed than any pilot needs on a track - or for that matter, on a favorite hot curving road.
Now it's time for the 2013 Audi RS6 Avant to lay us out with a flying scissor kick from the corner ropes. This version of the highway and byway marauder from Quattro GmbH is a decidedly greater piece of work than was the car I drove in 2008. This time, there will only be the Avant body configuration - no RS6 sedan - and, as with the previous generation, North America won't be at the receiving end when deliveries start at the end of July this year.