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VW pulls Lamborghini and Bentley from the Paris Motor Show

It's been slightly more than a year since the news that Volkswagen had intentionally cheated on diesel emissions testing broke. Since then, the company's reputation and image have suffered and it has struggled to regain its footing and composure. The automaker is shelling out billions in fines, so cost cutting is inevitable. Today, Reuters reports that Volkswagen subsidiaries Lamborghini and Bentley won't bring their elaborate displays to the Paris Motor Show next week. Auto shows can cost automakers millions of dollars, especially for supercar and luxury car brands that constantly try to compete and one-up with each other. Much of the money and fanfare goes to catering the media, and if an automaker has nothing new to reveal it can be difficult to justify the expense. The company told Reuters that it plans to attend smaller events that focus more on potential buyers. The Volkswagen group as a whole has shifted it's focus, both when it comes to products and auto shows like Paris. Next week, the automaker will be focusing on electric vehicles and electromobility. The company plans to reveal a new EV with 373 miles of range, eclipsing both the Tesla Model 3 and Chevy Bolt. Volkswagen has plans for 30 new electric vehicles by 2025. Lamborghini and Bentley aren't the only major automakers skipping Paris. Ford, Volvo, and Aston Martin have all decided to save money and focus their efforts elsewhere. Related Video:

Volkswagen reveals updated Sharan minivan for Europe

Volkswagen's experiment with rebadging Chrysler minivans as the Routan may not have gone so well for the German automaker in North America, but overseas it offers vans of its own. Even aside from the fullsize Crafter and Transporter vans sold by Volkswagen Commercial Vehicles, the passenger car division offers its own minivans like the Touran and the Sharan. Now it's revealed an updated version of the latter. The VW Sharan was first introduced back in 1995 and entered its second generation in 2009, built in Portugal alongside the Seat Alhambra and offering seating for seven in its five-door form. The new model looks largely the same as the existing one, but benefits from new taillights and a revised interior. But most of the upgrades are found under the skin. There's an array of turbocharged and direct-injected engines that are now up to 15 percent more efficient than those found in the existing model, with two gasoline engines ranging in output from 148 horsepower to 217, and three diesels producing 113, 148 and 181 hp. Along with the updated powertrain options, the revised Sharan also gets a host of new safety and convenience systems, including automatic post-collision braking, Front Assist with City Emergency Braking, Lane Assist, Adaptive Cruise Control, Park Assist and Blind Spot Monitor. Inside, the infotainment system has been upgraded as well. The updated Sharan arrives hot on the heels of the new Caddy released earlier this month and just in time for the 2015 Geneva Motor Show. Wolfsburg, 18 February 2015 Show premiere of the Sharan in Geneva - Even more technical highlights for the popular Volkswagen MPV - New TSI and TDI engines* are up to 15 per cent more fuel efficient Volkswagen is presenting the technically updated Sharan at the Geneva International Motor Show. Numerous new convenience and assistance systems make the family-friendly MPV one of the most advanced models in its segment. A wide range of infotainment systems also guarantees full connectivity to many smartphones and tablets. At the same time, the fuel economy of the petrol and diesel engines* was improved by up to 15 per cent. The updated Sharan will arrive on the German market this summer; advance sales begin in April. Along with the standard Automatic Post-Collision Braking System, which automatically initiates braking after a collision if the driver is no longer able to intervene, numerous optional assistance systems are available in the updated Sharan as well.

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.