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Audi: record profit as 'biggest product initiative' in its history gets underway

Audi Group CEO Markus Duesmann   Even as the Audi Group (VOW.DE), VW’s luxury division, is in the midst of a huge EV transformation it still needs to perform where it counts — the bottom line. And so it is doing just that.  On Thursday the Audi Group - which is dominated volume-wise by Audi, but also includes Bentley, Lamborghini, and Ducati - posted record revenue and operating profit in 2022. That shouldnÂ’t be a surprise given what the industry has been seeing at the highest end of the market - record performances despite macroeconomic jitters across the globe. But that it's happening as the group is noteworthy.  “We are on the verge of the biggest product initiative in our history,” Audi Group CEO Markus Duesmann said at a news conference earlier on Thursday. “By 2025, we will have launched around 20 new models, more than 10 of which will be all-electric. We have set the course to go 100% electric. By 2027, we seek to offer an all-electric vehicle in each core segment.”   This is all part of Audi GroupÂ’s Vorsprung 2030 plan, which seeks to have all of the groupÂ’s new models be electric by 2026 — and to end traditional gas-powered engine production by 2033. To that end, the group saw EV deliveries jump 44% (in 2022) compared to 2021 to over 118,000 vehicles, with the share of EVs rising to 7.2% from 4.8% in the prior year. Audi is also launching its first EV using the PPE (premium platform electric), which was developed together with Porsche. That EV, the Audi Q6 e-tron, will be unveiled later this year. (Past Audi EVs shared corporate parent VWÂ’s electric platform.) “With the Audi Q6 e-tron, e-mobility is coming from Ingolstadt (Audi HQ) for the first time,” Duesmann said in a statement. “To this end, weÂ’re also building a dedicated battery assembly facility on site. This will enable us to retain important know-how here in Germany and train our employees in future fields.” AudiÂ’s German rivals of course are also leaning in hard on their EV transformations. That makes it all the more important that Audi get its EV strategy right—and launched in a timely manner.

Chris Harris finds out if the Bentley Continental GT3-R deserves the badge

Before getting behind the wheel, Chris Harris is very confused by the Bentley Continental GT3-R. While the British brand undoubtedly has a long history in motorsports, Harris questions whether the stripped-out coupe fits the company's luxurious image. He aims to find out in his latest, drift-heavy video. Weighing in at over 4,800 pounds, this Continental is no lightweight, but the muscle comes thanks to a 4.0-liter, twin-turbo V8 making 572 horsepower and 516 pound-feet of torque. Power goes to all four wheels, but as Harris shows here, the system is still happy to let the big coupe wag its tail. He has especially nice things to say about the shorter differential that sacrifices outright top speed for better response at lower velocities. Still, the question remains whether it makes sense for a posh brand like Bentley to follow the Porsche mold with a racecar for the street. With the GT3-R limited to just 300 cars worldwide and 99 in the US for $337,000 each, a good way to find out is to take this ride with Harris.

Bentley considering chopping new Bentayga into a crossover coupe

Like it or not, crossover coupes are gaining traction. BMW lead the march with the X6 and has since followed up with the X4, rival Mercedes has already showcased its new GLE Coupe, and Audi is expected to be following suit as well. So who's next? According to Top Gear, that'd be Bentley. The British luxury automaker is (like Jaguar and Maserati) preparing to launch its first SUV in the form of the upcoming new Bentayga. But it isn't likely to stop there. After speaking with Bentley CEO Wolfgang Durheimer, who pointed towards the growth in the luxury crossover segment at the expense of coupes, convertibles and sedans, Top Gear is convinced that the Flying B marque is weighing the possibility of a slant-backed coupe version. If BMW's experience is anything to go by, reconfiguring the roof and styling of the Bentayga to give it a more rakish profile would be a relatively low-cost, straightforward way to give Crewe another crossover model to offer. But by the same token, we wouldn't expect it to lose any doors in the process as that same Bavarian rival did with the Mini Paceman. With the Bentayga set to debut next year, it may not be until 2019 that the coupe version would arrive. That's if it's given the green light in the first place, with Bentley expected to decide "within the next year and a half," according to TG. What isn't clear at the moment, however, is whether the Bentayga crossover would stand in place of the smaller crossover Bentley was said to be considering, or the four-door coupe or sports car projects that were said to be on the table as well.