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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:

McLaren rules out Porsche Cayman competitor

McLaren has gone downmarket with the introduction of its new Sports Series, but don't expect it to go any lower than that. So while the 570S goes up against the Audi R8 and Porsche 911 Turbo, the likes of the TT and Cayman can rest easy. Speaking with Autocar, McLaren designer Robert Melville ruled out the prospect of developing a sports car positioned lower than the Sports Series. Melville dismissed the idea of a Cayman rival from Woking as "a step too far" and "not exclusive enough" for McLaren. "You look at Ferrari. They are coming from very high end. [The 570S] is stretching us down to R8s and 911s and is as low as we'd want to come." The limit may be dictated, more than anything, by the building blocks. The newly introduced Sports Series adopts the same essential hard points as the higher-end Super Series (650S) and Ultimate Series (P1). Like its more expensive siblings, it features a 3.8-liter twin-turbo V8 mated to a seven-speed dual-clutch transmission and bolted to the back of a carbon monocoque chassis. Only instead of selling for $265k like the 650S or over $1 million like the P1, the 570S will retail for under $190k. Volume is how the manufacturer aims to make up the difference. In fact McLaren stands to generate as much revenue (if not necessarily the same profit margin) selling 2,500 units in the Sports Series each year as it has producing all 375 examples of the P1. Making those same building blocks available at a lower price point – or developing an entirely new set – would be an entirely different proposition... one which McLaren is evidently less than keen to undertake. So while we can look forward to new versions of the Sports Series to follow – including Spider and GT variants soon to follow – more commonplace stablemate appears to be off the table. Related Video: Featured Gallery 2016 McLaren 570S: First Drive View 34 Photos News Source: AutocarImage Credit: Copyright 2015 AOL McLaren Porsche Performance Supercars mclaren 570s mclaren sports series

The Rolls-Royce Phantom leads this month's list of discounts

Every month, we take a look at vehicle sales data in America to pick out the vehicles with the largest monetary discount. Usually, the list is dominated by high-performance two-door luxury sports cars. This month is different. Much to our surprise, the 2020 Rolls-Royce Phantom stands above all others with an average discount of $18,588 off the price quoted on its window sticker. Now, it bears mentioning that an $18,000-plus discount still only represents 3.46% of its $537,500 average retail price, and that the resulting $518,912 cost to drive off the showroom floor still makes the Phantom an extremely expensive range-topping luxury sedan. Still, even very wealthy people won't snicker at that kind of savings. Up next is another unlikely newcomer to the biggest-discount chart: the 2020 Porsche Taycan. The electric super sedan's average sticker price of $152,250 is cut to $135,707 after a discount of $16,453 is lopped off. That represents a savings of nearly 11%. We can't say how many of the Taycan's buyers over the last month will be able to claim tax rebates due to the Taycan's status as an electric vehicle, but that could potentially represent a further cut off the car's sticker. Rounding out the top three is the 2020 Maserati Quattroporte. Buyers of this Italian luxury sedan are saving an average of $13,839 for an average transaction price of $87,646. We normally only share the top three, but this month's list is interesting enough that we'll share some more. In fourth and fifth place are the 2020 Mercedes-Benz S-Class (with an average $13,239 discount) and the 2021 BMW 7 Series (with an average $12,435 discount) followed by the 2020 Rolls-Royce Wraith — interestingly enough also with a savings of 3.46% — and the 2020 Maserati Levante and Ghibli. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.