2013 Lamborghini Gallardo Spyder Only 48 Miles Navigation Cordelia Wheels on 2040-cars

Auto blog

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 to price Urus similar to Huracan

If and when the Urus project is finally approved for production, it will take Lamborghini into not one but several new territories. For one, it will be the company's first SUV since the demise of the LM002 in 1993. It'll also be the company's first front-engined model since the demise of the Jalpa and Espada in the late '70s, and its first model to offer hybrid and turbocharged powertrains in, well... ever. Just don't expect it to be its cheapest model.
According to Motoring.com.au, in speaking with Lamborghini sales and marketing execs, the Urus "will be priced similarly to the Huracán," which is currently the Raging Bull marque's entry-level model. That doesn't mean, necessarily, that the Urus (pictured above in Beijing alongside the previous Gallardo) couldn't undercut the Huracán's price slightly - especially since it will likely offer more than one engine option - but don't expect it to come cheap.
The Huracán starts in the US for $237,250. If, as reported, the Urus commands a similar price, that would make it the most expensive SUV on the market. That is, at least, before other high-end rivals from the likes of Bentley and Maserati get into the game.

Lamborghini Aventador Pirelli Edition available this summer

Lamborghini offers buyers incredible levels of performance combined with angular, avant-garde styling That grabs everyone's attention. Now, the Italian brand is giving its customers the chance to flaunt their supercars even more with a new Aventador Pirelli Edition. Designed to celebrate Lamborghini's relationship with Pirelli that goes back to the tires on the original 350 GTV prototype, these special-edition Aventadors keep all of the high-performance mechanicals and add a little extra to show off in two available looks. The first paints the roof, pillars, mirrors, engine cover and intakes matte black and gives the body a high-gloss finish in the buyer's choice of six colors. Alternatively, the supercars can have gloss black for those portions and paint the rest of the bodywork in a choice of four matte shades. Either the coupe or roadster can be ordered this way. Regardless finish, all of these Aventadors get a thin, red stripe over the roof, engine cover, mirrors and air intakes. The whole look is completed with red brake calipers (yellow for Rosso Mars models) and gloss-black wheels. As should be obvious, these editions wear the Pirelli tires, specifically P Zeros. The interior carries the motif inside. The seats are clad in black Alcantara and feature red stitching along with Lamborghini and Pirelli crests on them. The red stripe from the outside also covers the ceiling and seats, too. Naturally, a plaque identifies these models as part of this special-edition series. The Aventador's usual mechanical bits hide underneath the two-tone look, meaning each is powered by a 6.5-liter V12 pumping out 691 horsepower with power going to all four wheels. The Pirelli Editions are available for order now and deliveries start in the early summer of 2015.