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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.

Leno buys classic Porsche 356 Carrera 2, seeks out and finds perfect expert for help

The world of collector cars is fairly tight-knit when you get down to individual models. Need proof? Just take a look at this latest video from Jay Leno's Garage. The subject is a gorgeous 1963 Porsche 356 Carrera 2. Jay, being known as quite a collector, got a call from someone looking to sell. While doing his due diligence and looking for a 356 expert to go over the car with him, he came across John Willhoit.
Where the story gets weird is when Leno is asked the license plate number - it turns out that Willhoit, owner of Willhoit Restorations, had restored the exact same car more than 30 years prior. He then sold it to the same person that was looking to give it to Leno. What follows is a truly interesting video on the little quirks of the 356, along with Willhoit's personal history on a car he hadn't seen since 1976.
This is a bit more mechanically detailed than Leno's normal videos, but it's on a very interesting subject. Take a look below for the entire film.

Audi RS7 vs. Porsche Panamera Turbo, which would you pick? [w/poll]

We live in a blessed time - a time when you can buy not just one, but two (or three, or four) monstrously powerful, blazingly fast four-doors that can't only keep up with modern supercars, but in some instances, will outperform them as well. Two of the finest are the Audi RS7 and the refreshed Porsche Panamera Turbo, and Motor Trend has been messing around with the both of them in this comparison video.
MT provides a comprehensive and entertaining look at the RS7 and the turbocharged Panamera as they go through a battery of tests, before getting tossed about on both the road and the track. Starring flip-flop aficionado Jonny Lieberman, it's a must-watch, whether you're in the market for one of the two super sedans or merely want to see the former Autoblog editor again.
After having a look at the video, register a vote for the car you'd park in your driveway in our poll. Hop below for the full video from the team at Motor Trend.