VW Lifts Profit Target As Cost Cuts Pay Off, Shares At Eight-month..
BERLIN, Oct 27 (Reuters) - Volkswagen lifted its profit target for the year on Friday after cost cuts at its core autos division helped it outstrip third-quarter earnings forecasts. Shares in the world's largest carmaker rose 1.9 percent to an eight-month high at 148.20 euros by 0756 GMT, making them the biggest risers on the STOXX Europe 600 automobiles index , which was up 1 percent. Higher earnings at mass-market divisions such as VW's namesake brand and Czech unit Skoda as well as the trucks business lifted group results, while premium brands Audi and Porsche posted flat and lower profit. Volkswagen finance chief Frank Witter said. 5 billion). That beat even the highest estimate of 4.17 billion in a Reuters poll of banks and brokerages. VW said it booked 2.6 billion euros in the three months ended Sept. 30 to fix diesel engines in the United States, confirming an announcement last month that will raise total provisions for its "Dieselgate" scandal to 25.1 billion euros.
Wolfsburg-based VW said it expected the group operating margin to moderately exceed a target of between 6.0 and 7.0 percent, having previously said the margin would hit that range. VW said its results benefited from cost cuts, agreed a year ago with labour unions, and growing vehicle sales. NordLB analyst Frank Schwope who has a "buy" rating on the stock, said. Quarterly VW brand deliveries rose 7.3 percent on strong demand from China, the United States and South America, almost triple the 2.7 percent gain in year-to-date sales and offsetting declines in Germany, helped by orders for the new Tiguan SUV. VW's core brand is in the midst of cutting thousands of jobs through natural attrition, has ceased unprofitable models, reduced parts complexities and streamlined model development to lift the core division's margins. M.M. Warburg analyst Marc-Rene Tonn, who rates the stock "hold". Margins in VW's truck operations nearly doubled to 5.2 percent, benefiting from the deepening cooperation between the MAN and Scania brands which have been sharing purchasing and developing of gearboxes, axles and engines. While VW is producing a strong operating performance, the carmaker is facing a barrage of lawsuits from customers, investors and regulators over Dieselgate and is staking its future on a costly electric vehicle (EV) programme. Rolling out battery-powered cars in high volumes at Golf-type price points "has the potential to lose significant amounts of money," Bernstein analyst Max Warburton said. Together with rivals Daimler and BMW, it has also become the target of investigations by European and German antitrust staff into alleged collusion. Reporting by Andreas Cremer.
At 13.1 cubic feet, it's more than enough to handle a family's worth of groceries or a box's worth of flowers and mulch. That's great in a bubble, but the Corolla's capacity actually lags behind competitors like the Honda Civic and Volkswagen Jetta. The Corolla is a compact sedan, but there's nothing compact about its interior volume. The dashboard doesn't jut out too far from the firewall, leaving the cabin feeling plenty roomy for both driver and passenger. The story is even better in the second row, where a 6-foot-tall passenger will have no problem sitting behind a 6-foot-tall driver. Even with the front seat slid way back, my knees still fail to touch the seatback in the second row. In terms of headroom, there's plenty. The seats themselves are comfortable on long trips, and my XSE tester has sportier seats with attractive blue cloth inserts. The interior follows the same formula as other new Toyota models, like the RAV4. The dashboard makes interesting use of layering, and the whole thing feels very well bolted together. The materials aren't the most premium feeling, but the plastics aren't so hard that I worry about scuffing them with a strong glance. Visibility is great, in part because Toyota moved the side mirrors to the door panels, making space for an extra quarter-window within the door frame. That excellent vantage point applies to the side and rear views, as well, leaving me to rely less on blind-spot monitoring than I might otherwise need to.
The 2019 Volkswagen Golf GTI Rabbit Edition is limited to 3,000 models in the U.S. CITY OF INDUSTRY, Calif. Puente Hills Volkswagen is giving City of Industry community members the opportunity to test drive the 2019 Volkswagen Golf GTI Rabbit Edition. The Rabbit Edition is a limited-edition trim level of the 2019 Golf GTI hatchback. Only 3,000 Rabbit Edition models are available in the United States. The 2019 Volkswagen Golf GTI Rabbit Edition sits between this hatchback鈥檚 S and SE trims in terms of feature availability. Rabbit Edition models include unique badging, keyless entry with push-button ignition, black mirror caps, adaptive LED headlights and exclusive exterior color options. These features all come in addition to standard 2019 Golf GTI features like ambient interior lighting and heated front seats. A turbocharged, 2.0-liter, four-cylinder engine paired with a six-speed manual or seven-speed, dual-clutch, automatic transmission system powers every 2019 Golf GTI Rabbit Edition. This engine has an output of 228 horsepower and 258 pound-feet of torque. In combined city/highway driving conditions, this hatchback receives 27 miles per gallon. Several advanced driver assistance and safety features come standard in the 2019 Golf GTI Rabbit Edition. These features include a forward collision warning system with automatic emergency braking, rear cross-traffic alert and blind-spot monitoring. A remote anti-theft alarm system, dual front side-mounted airbags, emergency braking preparation and adaptive headlights all come standard in this hatchback as well.
