2006 Bentley Gt Coupe. 51k Miles. Radar Detector. Mansory Steering Wheel. Tuned. on 2040-cars

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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

Bentley going back to Pikes Peak with a Continental GT

Bentley is headed to the clouds again, with Rhys Millen once more at the wheel. The English luxury brand took on the Pikes Peak International Hill Climb last year with a Bentayga, Millen setting a production SUV record of 10:49.902. This year the duo want to claim the production car record over the 12.42-mile, 156-corner course with the new W12-powered Bentley Continental GT. The Pikes Peak organization doesn't list "Production Car" on its list of records. The closest we could find is a record run of 10:26.896 set by David Donner in a 2014 Porsche 911 Turbo S in the Time Attack 2 class. It appears a production car only needs the necessary safety gear like a roll cage and fire extinguisher to qualify for Time Attack 2. An Acura NSX won the category in 2016, just two seconds off Donner's time. Bentley is already working on its run and likely has simulations showing it can outdo Donner's time, but this will be a battle of lean vs. largesse. The Continental GT has all-wheel drive like the 911 Turbo S, and one more gear in its eight-speed dual-clutch gearbox compared to the Porsche. The Turbo S put out 560 horsepower and 553 pound-feet of torque, compared to Millen's ride getting 626 horsepower and 664 pound-feet of torque. But the Bentley weighs roughly 1,400 pounds more than the Porsche, a healthy handicap to drag up to the 14,115-foot summit. Millen's the man to make the attempt, though, having raced up the mountain 25 times and taken five overall and seven class victories. The race goes down - or up, rather - on June 30.

2015 Bentley Mulsanne Speed unleashes a tidal wave of torque

811 lb-ft of torque puts the Mulsanne Speed out ahead of every so-called muscle car on the market and eclipses most million-dollar hypercars.
Those in the market for a sedan with equal levels of performance and luxury would do well to stop by their local Bentley dealership, and have a look at the Flying Spur. Though not available in Speed trim like the previous four-door Continental, the W12 model already packs the 616-horsepower 6.0-liter twin-turbo W12 from the Continental GT Speed - and we wouldn't be surprised to see the British automaker come out with an even more performance-oriented version in the future. But what about the Mulsanne?