V8 Quattro Awd Wagon Bose Moonroof Heated Seats 18-inch Bbs on 2040-cars

Auto blog

Volkswagen posts quarterly profit despite drop in sales

Volkswagen returned to profit in the third quarter as surging Chinese demand for luxury cars helped offset a 1.1% drop in vehicle deliveries due to the pandemic, sending its shares as much as 3% higher on Thursday. The German automaker's return to the black comes amid spiking coronavirus cases in Europe that led governments in France and Germany to order their countries back into strict national lockdowns on Wednesday. "The coronavirus remains a central problem," Volkswagen Chief Financial Officer Frank Witter said in a conference call with reporters. "This situation now is anything but relaxed." But Witter said the group expected the economic recovery to continue and did "not anticipate any nationwide lockdowns in larger markets." Witter said the takeover of U.S. truck maker Navistar International by Volkswagen's trucking unit Traton was an important acquisition, but the "current economic climate will not make this easy." Volkswagen reiterated it expects to post a profit for the full year, saying its business "recovered noticeably" in the third quarter as sales in China of premium vehicles, including Audi and Porsche sports cars, rose 3%. The quarterly performance was also aided by a series of cost-cutting measures launched earlier this year. Volkswagen said its net liquidity rose to 24.8 billion euros from 18.7 billion at the end of the second quarter. Excluding one-time items, third-quarter operating profit was 3.2 billion euros ($3.8 billion), down from 4.8 billion euros a year earlier, but up from a second quarter loss of 1.7 billion. In a note to clients, Jefferies analyst Philippe Houchois described the results as a "solid performance with strong cash, but relatively muted in the context of the (auto) sector recovery." Last week, German rival Daimler reported a record 24% jump in Chinese demand for its Mercedes-Benz cars, boosting its margins in the third quarter. Italian-American Fiat Chrysler Automobiles and Peugeot manufacturer PSA Group both also posted solid results this week. Witter said Volkswagen could not say for sure whether it would meet EU CO2 emissions targets this year, adding "it will be a tough race." At 1030 GMT, Volkswagen shares were up 2.9% at 129.20 euros. Related Video: Earnings/Financials Audi Bentley Bugatti Lamborghini Porsche Volkswagen

2015 Audi A6 spiffs up for Paris Motor Show duty

While the big names at the Audi booth might be dominated by the TT line, it's not the only product getting some attention from the German company. The A6, on sale in its present form since 2012, is getting its official mid-cycle refresh.
Featuring light exterior freshening, the new fascia wears a tweaked grille and slimmer, more expressive headlights. The rear end sees more substantial changes, with a freshened rear bumper that features rectangular exhaust outlets and more dramatically redone taillights.
Under hood, the 3.0-liter, supercharged V6 engine now produces 329 horsepower, while the 3.0-liter, turbodiesel V6s are available in 215- or 268-hp varieties, or in twin-turbocharged form, with 315 hp or 322 hp. The other big powertrain news surrounds the transmission. Audi has finally dropped the continuously variable transmission from the base, front-drive A6, slotting in a dual-clutch transmission in its place.

The Acura NSX leads this month's list of discounts

For the second time in the last three months, the Acura NSX has a larger monetary discount than any other vehicle in America. Acura's hybrid super coupe packs 573 horsepower under its sleek bodywork, sufficient to send it sailing off to 60 miles per hour in a scant 2.9 seconds. But it doesn't exactly fly off the showroom floor with the same level of urgency. Buyers of the NSX are paying an average of $138,078 right now, which is a savings of $22,823 off its window sticker. That represents a 14.2% discount, which is also the largest percentage savings in February. And if the NSX doesn't quite fit into your future plans, Acura is also heavily discounting the ILX, TLX, RLX and MDX, so much so that those five models from the premium Japanese brand all appear in the top 10 biggest discounts this month. 2020 Acura NSX View 11 Photos The sleek 2020 Aston Martin Vantage slides into second place on the biggest discounts list, with an average of $18,763 lopped off its sticker price resulting in an average transaction price of $137,298. That's awfully close to the out-the-door price of the leading Acura NSX, which is a quicker and more technologically advanced machine, though arguably less traditionally beautiful. Rounding out this month's top three discounts is the 2020 Audi R8, buyers of which are averaging $17,888 off the sticker price for an average transaction of $179,238. Note that the Audi R8 is available as both a coupe and a convertible, with two power levels offered from its standard V10 engine. That means some R8s are certainly going to be much pricier than others. For a look at the best new car deals in America based on the percentage discount off their suggested asking prices, check out our monthly recap here. And when you're ready to buy, click here for the Autoblog Smart Buy program, which brings you a hassle-free buying experience with over 9,000 Certified Dealers nationwide.