2007 Bentley Continental Gtc Convertible 2-door 6.0l 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 warns its 6.0-liter W12 engine won't survive beyond 2026

Bentley confirmed it will only sell plug-in hybrid and electric models by 2026, so its W12 engine will either be axed. Autoblog learned from a company spokesperson that the latter solution has been chosen. "No more W12," a representative replied when we asked what the future holds for the engine. It's a tectonic shift for Bentley, which proudly calls itself one of the industry's largest manufacturers of 12-cylinders. What remains to be seen is when the 6.0-liter will retire. Jan-Henrik Lafrentz, Bentley's board member for finance, affirmed there is "a lot of mileage left in [the W12]," which suggests it's not going away in the coming days, weeks, or months. Its days are undoubtedly numbered, however, which shows the British firm isn't afraid to make difficult decisions to keep up with regulations and market demand. It illustrated this point well when it axed the Mulsanne, its flagship model in the 2010s, earlier in 2020. Pivoting toward electric powertrains gives it an opportunity to return to the segment; sedans normally return better range than comparable SUVs because they tend to be lighter and more aerodynamic. Will it? Executives didn't say a comeback is imminent, but they didn't rule it out, either. "The market for big sedans is interesting. It has changed a lot over the past 20 years. It's not in a growth phase. While we have a great heritage in that space, we have a perfect sedan with the Flying Spur, so let's see what evolves as we release and reveal our electric car strategy," said company boss Adrian Hallmark. Bentley's first series-produced electric car is tentatively due out in 2025. Built on a new platform, it will be the first in a full range of EVs, and the company pledged to phase out the internal combustion engine by 2030.

2013 Bentley Continental GT Speed

Meeting Bentley's 205-MPH Prince On The Autobahn
I'm travelling at the approximate speed of privilege. With the aluminum accelerator of the 2013 Bentley Continental GT Speed buried to its neck in the high-pile carpet of the floorboard, the 6.0-liter twin-turbocharged W12 underhood is at full boast. The 616 furious British horses pumping under that long, proud prow set the German countryside to frappé with breathless ease, and with the sprawling sheetmetal of the coupe settled comfortably onto its haunches in eager anticipation of ever more thrust, it's clear this machine is content to consume endless kilometers of Autobahn in wide-mouthed gulps. There's an open lane of unrestricted tarmac unraveling before me, and I'm keen to oblige every thread of temptation singing in my chest. The speedometer has just clicked past 165 mph.
At this clip, the new crown jewel of the Bentley war chest is covering land at the rate of nearly one football field per second. The white lines on the road are beginning to fade into a solid stream, and I'm suddenly aware of the increasingly rapid heartbeat whispering the truth of my mortality in my ears. There's no looking anywhere other than as far to the horizon as possible, but even with my eyes set to long-range scan, it's clear that if something goes wrong at this velocity, they'll be burying an empty box in the hills of Tennessee. That little bit of trivia makes it all the more disconcerting when an ambling Volkswagen Jetta strays into my lane for no other reason than to take in the glorious sight of me manufacturing a stack of bricks in the quilted-leather driver's seat of someone else's $228,600 supercar.