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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.

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.

Bentley SUV spotted wearing its own suit

It's been over two years since Bentley unveiled its first SUV concept at the 2012 Geneva Motor Show. In the time since, Bentley has sent it back to the drawing board and started development, embodied just a couple of weeks ago as a test mule wearing the bodywork of an Audi Q7, the replacement for which will share its underpinnings with the new Bentley. But what we have here is our best look yet at the forthcoming big Bentley.
Now wearing its own suit (albeit a heavily camouflaged one), this Bentley SUV prototype was recently spotted undergoing testing. And judging from the NewBentley.com stickers plastered along its flanks and rear bumpers, it seems like the crew from Crewe wanted us to see it - or at very least has resigned itself to the fact that we probably would.
The prototype is already wearing the new round headlamps that were part of the redesign, as well as LED taillights, and the interior photos snapped through the windows give us an idea of what to expect from the completed cabin, including the digital instrument cluster and head-up display at the base of the windshield.