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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 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.

2014 Bentley Flying Spur makes its Swiss debut

Ever since the two-door Bentley Continental GT debuted in 2010, we've wondered how the coupe's new design and technology would carry over to the four-door Flying Spur model. We received official details and images a couple of weeks ago, but we've now had the chance to see the Spur in person here on the eve of the 2013 Geneva Motor Show.
It's a handsome sedan, this 2014 Flying Spur (which has officially ditched the Continental nomenclature, for what it's worth). And even more handsome in the metal. The stock photos don't do this big beast justice - especially in the rear three-quarter and profile views, where aspects of the car (namely its newly horizontal-shaped taillamps) can look a bit awkward.
More impressively, Bentley says that the new Flying Spur will be the "fastest, most powerful four-door" it has ever produced. Makes sense to us, especially considering the fact that the sedan borrows its twin-turbocharged 6.0-liter W12 powertrain from the Continental GT Speed coupe. This twelve-pot mill is good for 616 horsepower and 590 pound-feet of torque, able to propel the 5,451-pound, all-wheel-drive sedan to 60 miles per hour in 4.3 seconds. That's quick.