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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.

How a 2017 Bentley Bentayga ended up in a salvage yard

You can find all sorts of great deals at auctions, but this one seems a little too good to be true. Maybe that's because the 2017 Bentley Bentayga isn't something you see everyday, especially in a salvage yard. But here it is on copart.com, a $250,000 ultra-posh SUV revealed only last September, sitting among other decidedly less-posh vehicles seized by banks and police in sunny Miami. Jalopnik caught this unusual listing. With a current bid of only $103,000, this Bentayga, the world's quickest SUV, is a steal at twice the price. It was clearly a steal for someone else, too. This Bentayga ended up on the auction block after it was recovered from a theft. Since the owner was already paid out, the Bentayga ended up on a salvage lot. While the listing notes some minor scratches, the car only has 619 miles on it. This particular model normally retails for about $280,000. So if you're looking to off-road in luxury for a steep discount, this is the listing for you. If you're feeling a little intimidated by the auction process, fear not. We have a comprehensive guide to buying cars at auction that will get you rolling in your practically new discount Bentayga in no time. Related Video:

Bentley shows plug-in hybrid concept ahead of Beijing, will power SUV in 2017

From its more mainstream, popular origins in the original Honda Insight and Toyota Prius, the hybrid powertrain has worked its way up to the the corner office, the big chair, the top slot in the corporation. Bentley has announced that it will introduce a plug-in hybrid option on its SUV due in 2017. Before then, we'll see what an electrically assisted Bentley looks like at the Beijing Motor Show when the Crewe automaker shows off a copper-accented Mulsanne that's been reworked into its Hybrid Concept, pictured above.
We don't have any official specs just yet, the only major announcement being that any Bentley hybrid will be able to travel at least 50 kilometers (31 miles) on pure electric thrust and get a power boost of "up to" 25 percent from its electric side. We use the phrase "any Bentley hybrid" because the company's CEO says "we will gradually introduce this powertrain across our model range" to 90 percent of the brand's lineup.
We'll know more when the Beijing show commences. For now, there's the press release below and the high-res gallery above.