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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.

Pebble Beach Concept Car Lawn adds class to the grass

While Pebble Beach is traditionally thought of as the refuge of the pristine and pricey vintage vehicles of the world, there's no shortage of newer vehicles on display. And when we say "new," we mean really new. As in, not even in production new. This is the concept car lawn, and it's home to an eclectic group of vehicles from past and present.
Of course, calling it the "concept car lawn" is a bit of a misnomer this year (as it has been in previous years, too). Production models like the Alfa Romeo 4C were on display, alongside known quantities like the Hennessy Venom GT and modified versions of already-on-sale models, like the Rolls-Royce Phantom Drophead Waterspeed Collection.
There were a few concepts on display, though. Toyota debuted the critically acclaimed FT-1 Concept in a new shade, while BMW's Beijing Motor Show stunner, the Vision Future Luxury, was also parked on the expensive grass. Also appearing were the Nissan GT-R in sheep's clothing, the Infiniti Q50 Eau Rouge, and the recently debuted McLaren P1 GTR.

Bentley reveals Continental GT V8 S with a bit more of everything

A Bentley seldom lacks for power, but the entry-level, V8-powered Continental GT and GTC will be getting just a bit more when the doors open at the 2013 Frankfurt Motor Show. The 4.0-liter twin-turbocharged V8 in the new Continental GT V8 S and GTC V8 S has been upgraded by 21 horsepower and 15 pound-feet of torque to bring output up to 521 hp and 502 lb-ft. That's no earth-shattering boost, but when you're dealing with a car that weighs over 5,000 pounds, ever little bit helps.
In a rare best-of-both worlds scenario, Bentley has managed to squeeze the extra thrust out of the Audi-derived engine without sacrificing fuel economy, enabling the new V8 S models to cover the same 500 miles on a full tank as the existing Continental GT V8. But the crew from Crewe didn't stop there: they also lowered the suspension by ten millimeters (0.39 inches), stiffened the spring rates by 45% up front and 33% in the rear, tweaked the dampers, fitted a stiffer rear sway bar and recalibrated the stability control, all in the aim of providing a more assertive, engaging driving experience.
The revised models can be identified by their tweaked front and rear fascias, black grille and unique 20-inch wheels. As of right now, it's not clear how much the V8 S will cost over the standard eight-pot Conti, but then Bentleys don't come cheap in the first place. Deliveries are set to begin early in 2014, by which time we hope to have more specifics on price and availability.