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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:

Porsche, Hyundai and GM impress in J.D. Power Initial Quality Study, Fiat and Jeep don't

Consumers continue to struggle with the advanced user interfaces and technologies being fitted to new cars, according to the latest J.D. Power Initial Quality Study. Overall, the industry average for problems per 100 vehicles climbed three percent, to 116 issues reported in the first 90 days of ownership.
Vehicles from the General Motors' family were dominant, with Buick, Chevrolet and GMC capturing more individual IQS segment awards than any other manufacturer. Despite its well-publicized issues, six GM vehicles (Buick Encore, Chevrolet Malibu, Chevy Silverado HD, Chevy Suburban, GMC Terrain and GMC Yukon) were given IQS awards for their respective segments.
Hyundai was ranked the best overall mass-market brand, with just 94 issues in every 100 vehicles reported in the first 90 days. Parent Hyundai Motor Company, meanwhile, trailed GM with five vehicles winning their segments, including the Hyundai Accent, Elantra and Genesis, as well as the Kia Cadenza and Sportage.

Autoblog Unplugged: 2015 Porsche 911 Targa 4S

The day began cold and clear. It felt like a perfect late autumn afternoon to flog the 2015 Porsche 911 Targa 4S on the backroads west of Detroit. So it seemed, anyway. An impromptu snow squall came out of nowhere, dampening the roads and our spirits, though the latter quickly were lifted as we began putting our German sports car through its paces. Quite simply, the 911 Targa 4S is up for almost everything. The all-wheel-drive system kept us poised and secure – it takes a bit to unsettle this 911 when all four wheels are clawing at the pavement. We still had 400 horsepower on tap, which is a riot to channel via the seamless PDK gearbox in any condition. Yes, this is a Targa, so even in the snow we dropped the top, cranked the seat heaters and had a heck of a good time. It's hard not to when you're motoring in something that starts at more than $120,000. Still, weather in Michigan can throw anyone a curve. We dealt with it, and luckily, you don't have to. In this Autoblog Unplugged you get all the good stuff. The purr and whine of the engine. Up-close shots of the Targa as it tackles the road – and best of all – no talking. Unplugs are all about driving. Thus, we'll shut up. Please enjoy.