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Audi CEO says brand's EVs are almost as profitable as its other cars

After, oh, a hundred years or so of building vehicles primarily powered by internal combustion engines, automakers around the world have been and still are pumping billions of dollars into the development of electric vehicle technology. Everything from platforms and batteries to motors and the software to control it all requires untold hours of development, and that takes time and money. Fortunately, it's not going to take long for that massive investment to start paying off, at least according to Audi CEO Markus Duesmann, who told Reuters in an interview that "The point where we earn as much money with electric cars as with combustion engine cars is now, or ... next year, 2023. They are very even now, the prices." As a brand, Audi contributed more than a quarter of overall profit for the massive Volkswagen Group, which has such powerhouse brands as Volkswagen and Porsche among others. Under the Audi umbrella are Lamborghini, Bentley and Ducati, and it seems those high-end branches aren't going anywhere, at least for now. "These brands ... are very valuable very profitable brands, where we can even expand the synergy level in the future," Duesmann said in the interview. "There are no plans whatsoever to get rid of them." Despite the overall profitability of the brand, the ongoing global chip crisis is causing headaches. "We had a very strong first half in 2021. We do expect a much weaker second half," said Duesmann, who added, "We really have trouble." In fact, so serious is the trouble that the brand is forced into "a day-to-day troubleshooting process" to limit the chip-shortage damage. The good news for the automaker is that Audi has been able to boost its profit margin from 8% prior to the pandemic in 2019 to 10.7% in the first half of 2021. The bad news is that various chip shortages aren't expected to get a whole lot better over the rest of the year. Related video:

'Rich Kid of Instagram' victim of supercar arsonists

A 19-year-old in the UK is smarting after the possibility that his prolific social media use may be at the heart of four family-owned supercars going up in flames in barely a week. Aleem Iqbal has thousands of followers on Twitter and Instagram paying attention to his frequent posts about the high-priced cars he's driving. He's even been featured on the Tumblr page Rich Kids of Instagram. It appears that some people might not be so smitten with him, though.
According to his Twitter profile, Iqbal owns Platinum Executive Travel, a luxury car rental company in the England, and UK newspaper The Telegraph claims the company is also owned by Iqbal's father. On June 6, cameras caught three hooded men setting fire to a Lamborghini Aventador Roadster leased by the company for a wedding. A few days later, two Audi R8 Spyders and a Bentley Continental Flying Spur from Platinum also got the torch, and two men were caught on camera setting the blaze. Nobody was hurt in either of the attacks, and the Aventador appeared to be repairable with the fire causing most damage to the passenger seat and dashboard. Police are still investigating both of the crimes.
According to The Telegraph, Iqbal believes that the arsons could have stemmed from jealousy towards him and his family's business. Regardless, setting fire to a bunch of cars that are likely insured isn't a great way to show displeasure.

Bentley Mulsanne Grand Convertible due in 2017, Speed 6 still in play

Automobile outlines the near-term future of the Bentley line-up, finding a few items of gold and perhaps one that brand purists will consider a goldbrick. Dealers are taking orders for the the Bentley Grand Convertible, a ragtop Mulsanne introduced at the LA Auto Show last year, and it is expected to reveal its production form sometime late next year on its way to showroom floors by early 2017. Brand CEO Wolfgang Durheimer said "Mulsanne will get further derivatives," plural. Perhaps that means that with a convertible on its way to reality, a coupe something like a modern Brooklands will follow. A long-wheelbase Mulsanne is in the works, too. The Grand Convertible will wear the Mulsanne's new face, scheduled for reveal at next year's Geneva Motor Show. Automobile says the front will be "squarer" and the grille "more upright," which we didn't think was possible, and boast "three brick-shaped air intakes," apparently to emphasize the upright squareness. Plus, new headlights. The third-generation Continental and Flying Spur ranges would come after that, laid atop the MSB platform and rolling out of Crewe over a two-year period starting in 2017. They should still be powered by 4.0-liter V8 and 6.0-liter W12 engines, but the bodywork around those motors will be "both evolutionary and daring." This, then, should be the leap that Bentley wanted to make with the second-generation Continental but couldn't. Whither the EXP 10 Speed 6? Durheimer said the customer response has been, "Don't ask us questions, just do it." The last news we had over the summer was that Bentley was deciding whether to expand the line-up next with a small SUV or the Speed 6. It's not clear which will come first, but Durheimer said, "I'm confident that with EXP10 Speed 6 we will find a good solution," and the business case for it goes to the board a year from now. Automobile suggests it will go on sale in 2020 with a 600-horsepower, twin-turbo V8. That smaller SUV is still on the table, though, an entry-level offering that would use the re-engineered bones of the Audi Q5. Featured Gallery Bentley Grand Convertible: LA 2014 View 16 Photos News Source: AutomobileImage Credit: Live images copyright 2015 Drew Phillips / AOL Bentley Convertible Coupe Crossover Future Vehicles Luxury Performance bentley mulsanne bentley flying spur bentley exp 10 speed 6 bentley grand convertible