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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.

2014 Volkswagen Beetle GSR is black and yellow, black and yellow

Way back in 1973, Volkswagen decided it was high time to take the loveable air-cooled Bug racing. No, it wasn't painted in Herbie colors - Volkswagen called its sport-tuned machine the Beetle GSR, "Gelb Schwarzer Renner" or "Yellow Black Racer." Hence, the somewhat shocking paint scheme.
VW is bringing its sporty black and yellow Beetle back for 2014, and you can see live photos of it above. It's got a 210-horsepower turbocharged 2.0-liter four-cylinder engine under the hood (that'd be the hood up front, unlike the car's forebear), and a six-speed manual or DSG automatic transmission sends those ponies to the front wheels. Note that this car's output is up 10 horses on other turbo VWs, and the Jetta GLI and Beetle Turbo for 2013. The 0-60 run takes 6.6 seconds, and top speed is limited to 130 miles per hour.
Besides the in-your-face black and yellow paint, the GSR is outfitted with a large rear spoiler and 19-inch wheels shod with 235/40 tires. The bee-like hue carries over inside, with yellow stitching on black leather. Only 3,500 will be produced, each with its own unique plaque. Pricing has not yet been announced, but you're free to read through the press release below all the same.

Translogic 164: Driving the fuel cell vehicles of the 2014 LA Auto Show

The LA Auto Show is known for its environmentally friendly vehicle debuts. At last year's show, hydrogen fuel cell concepts from Honda and Toyota joined a lease-ready Hyundai Tucson FCEV to cast a green hue over the convention center. This year, automakers took us a step closer to a fuel cell future by offering drives of their hydrogen-electric hybrids. Translogic host Jonathon Buckley takes a ride in the Toyota Mirai, which is headed for production in 2016. He follows that with a spin in the Volkswagen Passat HyMotion and the Audi A7 Sportback h-tron quattro concept. Which of these fuel cell vehicles holds the most promise? Tune in to find out. Follow Translogic on Twitter and Facebook. Click here to subscribe to Translogic in iTunes. Click here to learn more about our host, Jonathon Buckley. LA Auto Show Audi Toyota Volkswagen Electric Translogic Videos la 2014 toyota mirai