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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.

Drive a Bentley | The List #0017

There's just something about a Bentley. The brand exudes luxury. There's nothing quite like driving or getting chauffeured in one of these classically British vehicles. On this episode of The List, hosts Jessi Combs and Patrick McIntyre head all the way to the UK to investigate Bentley's heritage and drive a shiny new Mulsanne. To start the trip off, our hosts drop by the Bentley Factory in Crewe to learn how the cars are made. Every aspect is crafted with precision and care, taking up to two weeks to complete each car. Our hosts even busted a few stereotypes about the brand during their trip. "I thought Bentleys were supposed to be grandma cars," said Jessi, enjoying the high life in the luxurious back seat of the Mulsanne. "It's more of a beast than anything," Patrick responds from behind the wheel. From learning about the 400-hour manufacturing process for one vehicle, to getting behind the wheel and feeling the power of the 505-horsepower engine, this is an episode of The List you won't want to miss. Click here to find more episodes of The List Click here to learn more about our hosts, Jessi and Patrick Bentley The List Videos Original Video bentley mulsanne jessi combs patrick mcintyre

Bentley Continental GT Convertible is here, and it's a stunner

Bentley gave us a completely revamped Continental GT a short time ago, and now we get its airy twin, the Continental GT Convertible. Making its debut right before the L.A. Auto Show begins, the topless Bentley incorporates everything new and good about the redesigned Conti. It'll come with the 6.0-liter twin-turbo W12 engine making 626 horsepower and 664 pound-feet of torque, just like the coupe. Acceleration to 60 occurs in a luxuriously quick 3.7 seconds before topping out at 207 mph. It's a convertible, but it sure won't be slowing you down any because of it. Styling for the drop top is elegant but doesn't distance itself much from the coupe beyond the obvious lack of a roof. That's totally fine, because the new Continental GT is stunning either way. Bentley has an option for old-school tweed lovers out there too: a roof made of the stuff. Details on how such a roof is possible haven't yet been spelled out, but we're guessing it isn't made of your traditional (not waterproof) tweed. Whether you choose tweed or some other more normal material for your roof, Bentley says it has better sound proofing to offer a three-decibel reduction of noise compared to its predecessor. It'll open in 19 seconds at speeds up to 30 mph. Like the coupe, the convertible drops a bunch of weight — it's now 20-percent lighter than before and 5-percent stiffer. Technology within the Convertible has advanced a few steps compared to the previous generation. The Convertible offers a rotating display in the center stack, so a driver can choose whether they'd like to see the 12.3-inch touchscreen or uninterrupted wood paneling. Bentley spared no expense on the real wood paneling either. Each car uses over 107 square-feet of the nicest lumber Bentley can get its hands on. A new neckwarmer is apparently warmer and quieter than before, and now it also has heated armrests. A couple different technology packages will be offered at launch. One is called "City," and adds hands-free trunk operation, traffic-sign recognition, city braking systems and a top-view camera. The other is called "Touring" and it tacks on adaptive cruise control, active lane assist, a head-up display, infrared night vision camera and pre-sense braking. Frankly, it feels like many of these options should be standard like they are on a $30,000 Honda Accord. All the other pertinent equipment is virtually identical with the 2019 Continental GT we already drove.