2018 Bentley Mulsanne Speed 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

VW Group plan puts Porsche in charge of a 'super-premium' division

An Automobile report looks into what's happening on the organizational and technical sides of the Volkswagen Group, and what those changes could mean for the premium brands. The wide-angle view is that Porsche appears to have been anointed to "coordinate the future activities" at Audi, Bentley, Bugatti and Lamborghini. Audi would cede Lamborghini guardianship to Stuttgart, and Ducati — via a new concern called Ducati Enterprises — would become the shepherd for VW's other Italian investments. Executives target Jan. 1, 2019, to complete the reshuffle. VW wants to save a boodle by tying up four of its five top-tier brands, and putting the one with the highest ROI in charge. Porsche, within its own house, wants to reduce expenditures by $2.3 billion per year over for four years, the savings already earmarked for improving internal processes like R&D and production. Having Porsche share those gains as well as lead development of platforms, components and future-tech strategies for the sister sports car brands could benefit everyone. In the near-term, the brands have their own plans: Bugatti CEO Stephan Winkelmann is said to want a Chiron Superleggera, a roofless and "completely reskinned" Chiron Aperta, and a track-only Chiron SS. The Superleggera could take the Chiron Sport's and Divo's Jenny Craig routines even further. The Aperta seems a natural successor to the Veyron Grand Sport, a natural evolution of the recently introduced Sky View roof, and a reskin might include numerous Divo cues. It's also said Bugatti's considering "an all-electric high-end model" in conjunction with Porsche, Rimac, and Dallara, but name one supercar or hypercar manufacturer that isn't considering a lightning-fast EV. Lamborghini, deep into work on follow-ups for the Huracan and Aventador, might get a bit of a bump with the new plan. The carbon "monofuselage" for the next V12 flagship is said to be too far developed and too complex to scrap. It puts two electric motors on the front axle, batteries in the middle, and a naturally aspirated V12 with around 770 horsepower plus another e-motor with 402 horsepower in back. The Huracan is said to get a version of the same carbon architecture at the moment, but the corporate reorganization might press pause on it. Automobile says options include continuing the Huracan/ Audi R8 twinning, but that depends on Audi saying "Ja" to a third-gen R8 with Lamborghini bones.

Bentley recaps its 100 years in a $250k book

Bentley's 100th anniversary might be remembered more for the book that celebrates the milestone more than the cars. The carmaker worked with Opus, a "luxury publisher" with the tagline "Greatness immortalized greatly," on a tome that tells the story of the last 100 years. The limited-edition result of their work weighs roughly 66.5 pounds, is filled with exclusives, can be customized like a Bentley, and can cost more than a Bentley. There will be three versions, in Centenary printed in a run of 500, the Mulliner printed in a run of 100, and 100 Carat with just seven examples, representing the seven continents. All come wrapped in hand-bound leather from the same herds that provide hides to Bentley cars, buyers able to choose what color leather they prefer. The cover is adorned with nothing other than the same special Bentley badge that gets affixed to cars during this anniversary year. The content begins with a foreword penned by well known collector Ralph Lauren. Then the book spends nine chapters and more than 800 pages telling the story of W.O. Bentley and his Le Mans racers before lavishing time on the decades of brand-defining grand tourers, the limited editions, the one-offs, the designers, the craftsmanship, and the sports cars that have brought us to today's GTs and limousines. In the last chapter, called "The Future," current brand CEO Adrian Hallmark expands on what the next century will bring. Never-before-seen content in every edition includes historical photos, new photography shot by Opus, and gatefold pages with artwork that spreads nearly 6.5 feet when fully opened. The "entry-level" Centenary edition costs GBP3,000, or $3,800 in green money. The Mulliner edition adds extras like 20-inch by 24-inch Polaroid photos highlighting ten of Bentley's landmark cars, and 56 watercolors painted on silk paper. A piece of the left front Michelin tire from the Bentley Speed 8 that won Le Mans in 2003 will grace the inside cover of the Mulliner's clamshell case. Owners can go further with customization, having their own Bentley photographs included in their copies, or having their cars photographed by Opus to be included. More equipment means more money, the Mulliner edition costing GBP12,500, or almost $16,000. Beyond the Mulliner's bespoke options, the 100 Carat edition encrusts the book with 100 carats of diamonds and a wings badge set in either white gold or platinum.