2011 Lamborghini Gallardo Lp550-2 Coupe 2-door 5.2l 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

Lamborghini agrees to produce Urus in Italy

The Lamborghini Urus is apparently on the way, and it looks like it will be built in Italy. The news comes from Bloomberg, which claims Lambo CEO Stephan Winkelmann and Audi CEO Rupert Stadler will be joined by Italian Prime Minister Matteo Renzi on Wednesday to announce a series of tax breaks to bring SUV production to Italy. The report cites multiple "people familiar with the matter." The details of the deal include up to 500 new jobs in exchange for $87 million in tax breaks along with "other benefits," according to Bloomberg. Just over a year ago, it was looking like Urus production was headed for Slovakia, where it'd be built alongside its MLB platform-mates, the Audi Q7, Volkswagen Touareg, and Porsche Cayenne. News of Italy's bid surfaced this spring. We'll be sure to keep an eye out for any official news as it becomes available. Related Video:

Lamborghini Huracan Spyder tipped for Geneva debut

If you're enamored of the Lamborghini Huracan but have been waiting (and saving) for the convertible version, you may have to wait a little longer. According to Motor Trend, the drop-top Huracan won't make its debut before the 2016 Geneva Motor Show. That's almost eight months from now. The basic parameters of what the Huracan Spyder (as it's likely to be called) aren't hard to forecast. It will in all likelihood carry the same 5.2-liter V10 as the coupe, with the same output of 602 horsepower and 413 pound-feet of torque driving all four wheels through a seven-speed dual-clutch transmission. Expect a slight performance penalty in return for the open-top experience as compared to the fixed-roof version, which is expected to boast a 0-62 time of 3.2 seconds and a 202-mile-per-hour top speed. Other powertrain configurations may follow, but the roadster is likely to pack that same configuration at launch. While the larger, more powerful Aventador is about to breed its fourth model variant in the form of the Superveloce Roadster, the Huracan has only been made available thus far in one version. Our sources at Lamborghini tell us that will change soon, however, with numerous variants to follow – just like they did with the prolific Gallardo that came before. And the Spyder could be the first of the many to follow. The bigger question is what kind of roof mechanism Lamborghini will go with for this latest open-top supercar. The Gallardo Spyder used a fabric roof mechanism (removable roof panels are featured on the Aventador Roadster), however the Huracan Spyder will have to contend with rivals like the McLaren 650S Spider and the new Ferrari 488 Spider – both of which incorporate folding hard tops. The latter was just released this week and is set to debut at the Frankfurt Auto Show this September, giving it a good half year before its rival from Bologna hits the scene. Related Video: