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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 designing SUV to reach 200 mph?

The 200 MPH Club was once populated entirely by exotic sports cars. These days it has expanded to include convertibles, sedans and even station wagons. But an SUV? Unthinkable, what with their aerodynamic profile approaching that of a barn door. Bentley, however, is out to change that with its forthcoming new sport ute.
Not only is the British automaker aiming to make its first SUV fully capable off road, it's also engineering it to be one of the fastest on the road as well. According to emerging reports coming in from the UK, Bentley is streamlining the SUV's shape with a lower roofline and reprofiled rear end and fitting it with advanced underbody aerodynamic aids in order to compensate for its over-six-foot width and get it up to the magic 200-mph mark.
Reaching out to Bentley for comment, its communications office wouldn't divulge such performance targets: "The SUV is in the engineering development stage, so unfortunately it's too soon to discuss performance figures," we were told via email. "It will of course have all the power and performance that one would expect from a Bentley!" If the information proves correct, however, at that speed, it would be able to keep pace with the faster members of the Continental family, but leave the Mulsanne flagship sedan (which is already approaching the size of an SUV) and its 185-mph top speed in the dust - not to mention the Porsche Cayenne Turbo S that is quoted at "only" 175 mph.

Bentley teases new Flying Spur before Geneva debut

Last time we saw the 2014 Bentley Continental Flying Spur out testing, our only questions about the new car regarded its rear-end styling, and when the car would debut. Well now we know for certain that the car will be unveiled at the Geneva Motor Show, and we're also getting a better idea of what the car will look like thanks to Bentley releasing a brief teaser video.
The easiest-to-spot detail that we see in this Flying Spur video is the car's horizontal taillights - the first such on a Bentley since the 1990s. We can also see that this hyper-luxury sedan will get a more squared-off front end than its Continental GT counterpart. But, from what we can tell, it will receive a similarly laid out interior, including the three-spoke steering wheel.
Scroll down to watch the video, and we've also attached the single-sentence press release in which Bentley promises to reveal more details about the car on February 20.