2020 Lamborghini Urus Sport Utility 4d 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 officially reveals new Veneno Roadster

Sexy or vulgar - whatever you thought of the Veneno which Lamborghini unveiled at the Geneva Motor Show this past March, it didn't much matter. Because by the time we saw it, all three examples were already bought and paid for... at the equivalent of $3.9 million each. But if you had that much cash burning a hole in your pocket and lamented missing out on the opportunity to put one in your driveway, we've got good news, because Lamborghini has just confirmed another nine examples to be built. Only this time, it's got no roof.
Now officially confirmed after leaking out the other day, the Lamborghini Veneno Roadster features the same radical styling, extreme competition-derived aerodynamics, carbon-intensive construction and twelve-cylinder powertrain as the coupe that proceeded it and which we enjoyed photographing for your viewing pleasure just last month. The principal difference, of course, is the open-air cockpit, which offers no protection from the elements whatsoever: no fabric umbrella contraption, no removable glass or metal panel, nothing to get between your dome and the air rushing by at 220 miles per hour. That's the same top speed as the coupe, while the 0-62 run takes just a fraction of a second longer at 2.9 seconds. But we doubt you'd notice the difference with that 6.5-liter V12 revving just behind your ears.
It's the same engine and seven-speed ISR gearbox that powers the Aventador, only tuned up to 750 horsepower for the Veneno. And it should have more power, because at 3.3 million euros (about $4.5 million, give or take a Gallardo), the Veneno Roadster isn't just $600,000 more expensive than the Veneno coupe, it's also more than ten times the price of an Aventador. Still with us? You can scope out all the details in the press release below and browse through the photos in the gallery above for a closer look.

Lambo to quarantine twin-turbo V8 to Urus

Lamborghini is planning to slot a 4.0-liter twin-turbo V8 into the Urus sport utility vehicle. But don't expect the engine to make its way into the Italian firm's supercars anytime soon. According to the latest report, that forced-induction mill will be limited exclusively to the sport ute for the foreseeable future. Speaking with Autocar, CEO Stephan Winkelmann reiterated that the Urus will be the only Lamborghini model powered by the turbo eight. "On the supersports cars we are convinced that the choices we have made with the naturally aspirated engines are still the right ones," said Winkelmann. "We are not saying that future engines will never beat what we have in our cars; we are saying as long as there is nothing that is better, especially at low revs or in terms of the sound that the V10 and V12 have, we stick to them." While its rivals have embraced turbocharging, Lamborghini has been a steadfast holdout for high-revving, naturally aspirated engines with two-digit cylinder counts. Ferrari, for example, has slotted a turbocharged V8 into both the California T and 488 GTB. McLaren uses a turbo V8 in all its models. Lambo's own sister brands Porsche and Bugatti also use turbochargers. But the Huracan eschews forced induction for an atmospheric V10, as does the Aventador for a V12. The Volkswagen Group of which Lamborghini is part employs a 4.0-liter twin-turbo V8 for both the Bentley Continental and numerous Audi models. We'll likely be looking at a version of this engine to power the Urus, which is also expected to offer additional powertrain options in the future. The last time Lamborghini offered an SUV was with the LM002 of decidedly different orientation, powered by a version of the V12 engine from the Countach. Related Video: