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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 Prologue Concept [w/videos]

What you're looking at here is a preview of Audi's next-gen exterior and interior design. You can't tell, but in these photos, I'm wearing what can only be described as an ultra-white cloth spacesuit. Before opening the large driver's door of the Audi Prologue concept outside of the SLS Hotel in Beverly Hills, Audi requested that I don a super-attractive onesie so as to not let my flannel-covered human flesh touch the untreated leather surfaces of the Prologue's interior. I tied the spacesuit around me just above the waist, let my Converse poke out the footholes, and promised to hold in any sneezes. After all, I was being granted a serious privilege. I was about to drive the multi-million dollar, only-one-in-the-world Prologue that had just stunned crowds at the Los Angeles Auto Show days earlier. This isn't the first time Audi has bravely let the media sample its conceptual wares. In 2010, the German automaker granted us access to its incredibly enticing Quattro concept, probably hoping that the media would rave about the thing enough to convince the higher powers to actually green-light and build it. (We're still waiting on that one, of course.) You could argue that this same logic was applied when allowing me to drive the Prologue – it's no secret that Audi has been dreaming of a range-topping A9, though company officials told me that there is currently no decision on whether or not to produce such a car. But that's not really what the Prologue is about. As its name suggests, what you're looking at here is a preview of Audi's next-generation exterior and interior design, in a fully baked, fully functional package. Suit up, and behold the future. While the Prologue won't necessarily spawn its own production model, its elements will be incorporated on the next A6, A7 and A8. "Timeless but progressive." That's the key takeaway of the Prologue's aesthetic, according to exterior designer Parys Cybulski. The focus here is on beautiful, yet modern, simplicity. A design that looks both contemporary and forward-thinking at the same time, and something that will still look up-to-date in several years' time. After all, while the Prologue won't necessarily spawn its own production model, its elements will be incorporated on the next A6, A7 and A8. Up front, the most prominent feature is, of course, Audi's single-frame grille, seen here with a larger breadth than anything else in the brand's lineup, though its closest resemblance is seen on the new TT.

New Audi TT likely headed for Geneva reveal

Between the Consumer Electronics Show and the Detroit Auto Show, Audi is creating plenty of buzz lately for its upcoming third-generation TT. Fortunately, we won't have to wait too much longer to see the next Audi TT, though, as Autocar reports that the coupe will make its big debut at the Geneva Motor Show.
In speaking with Audi's technical chief Ulrich Hackenberg, the article states that the 2015 TT will first be revealed in March before going on sale later in the year. Previewed by the Allroad Shooting Brake Concept (shown above), it isn't that hard envisioning what the new TT could look like: ditch the shooting brake roofline, tall ride height and obvious conceptual design cues. Of course, if this styling is more your thing than the two-seater TT, Hackenberg left open the possibility of a TT Allroad or even a TT-based crossover.