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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.

VW makes $23K on every Porsche sold, more than Bentley or Lamborghini

It's a good time to be in the luxury car business. In Volkswagen Group's financial report for the 2013 fiscal year, it is revealed that that Porsche enjoyed an operating margin of 18 percent. That means the Stuttgart brand made on average about $23,200 per car sold, according to BusinessWeek. Bentley wasn't far behind, and Audi (which was combined with Lamborghini) posted a 10.1 percent margin. This compares to only around 2.9 percent for the Volkswagen brand.
"Luxury brands are on fire," said Dave Sullivan, an industry analyst at AutoPacific. He said that the average profit margin is between six and eight percent. Brands like Porsche and Bentley have the benefit of competing in rarefied markets. Buyers looking at one their vehicles have fewer models to shop against and don't care as much about price. They can also charge more for options, which further boosts income, according to BusinessWeek.
In a way, we should be more impressed by the continued success from Audi. Its models generally have direct competitors in every segment from the other premium automakers. Plus, their buyers aren't the captains of industry who are shopping for a Bentley. Still, the Four Rings is leading rivals in sales so far this year.

2021 Bentley Bentayga V8 First Drive | Not messing with success

The 2021 Bentley Bentayga V8 marks the first refresh for Bentley’s first and rather successful SUV. The company has sold more than 20,000 of them worldwide since its introduction just a few years ago. As such, Bentley didnÂ’t need to do much to keep it updated, nor did it. The refresh boils down to exterior and interior updates, and after spending some time with the updated Bentayga, it continues to be a brilliantly luxurious machine with impressive capability. The most obvious and significant changes are to the exterior styling, which has hardly been the Bentayga's strong point. There are new round headlights with a cut crystal design like on other recent Bentleys. The grille has been enlarged, and the front bumper has a sportier design with an integrated spoiler. On the side, the fender vent has been lengthened and mounted higher, while the rear now has slim oval taillights and oval exhaust outlets. Those taillights have the same kind of cut crystal design as the headlights. The changes are subtle but effective at sprucing up the Bentayga, but they also donÂ’t make existing Bentaygas look out of date. ItÂ’s a similar situation inside. The biggest changes are in the center of the dashboard. The upper air vents are thin and horizontal instead of circles, and they've been relocated with the dash clock to sit mostly on top of the dash instead of nestled into it. Below them is a larger, 10.9-inch infotainment system that spans the whole width of the center stack and looks better integrated than the old version. The back seats can be configured to have nearly 4 inches more legroom, and thereÂ’s a larger touchscreen remote and available rear air vents for the bench seat configuration. Beyond that, the interior is mostly the same, which is hardly a complaint. This is a Bentley, after all. Essentially every surface is wrapped in soft leather, adorned with rich wood trim or made of weighty knurled metal. And customers have access to a vast variety of colors and combinations to create a genuinely custom cabin. There are a few low-ish points. The infotainment system isnÂ’t the most responsive, and it can be a little tricky to find the menu you want. Also, and this is a bit of a car journalist nitpick, you can spot some bits pilfered from the Audi parts bin: the turn signal and washer stalks, the headlight knob, and the underlying menus and layout of the instrument panel.