On Thursday, Uber Technologies reported its first profitable quarter since the company launched in San Francisco way back in 2009. This represents a huge achievement for the company, which has been investing heavily to expand the business in the hopes that it will eventually become the world’s favored ride-hailing, courier, and food-delivery service.
But here’s the rub. Uber is technically only profitable on an adjusted basis that takes a pretty narrow view of its finances. Despite this, it’s still a step in the right direction and may foreshadow the reliable earnings the company has been seeking for ages.
The new Audi Q3 is en route for a launch later this week, but Audi gave us a sneak preview of the model in a teaser video. As the smallest crossover the brand has ever sold in the United States, the Q3 is in a hot segment right now. However, it hasn’t managed to outpace the more expensive Q5 in terms of overall sales. With 20,633 deliveries in 2017, the crossover sells well enough, but pales in comparison to the units moved by its larger sibling.
It does look to be on schedule to surpass the A3 in terms of sales by the end of the year, though. The fact that crossovers are killing the smaller to midsize car segment isn’t much of a secret anymore. But it’s as true for Audi as it is most other brands, which is why the Q3 needs to be a success. You can see the brand going the extra mile — even in this little teaser.
2016 Audi Q3 Prestige
2.0-liter, DOHC I-4, CVVT (200 horsepower @ 5,100-6,000 rpm; 207 lbs-ft @ 1,700-5,000 rpm)
6-speed Tiptronic automatic
20 city/28 highway/23 combined (EPA Rating, MPG)
20.2 mpg (Observed, MPG)
Tested Options: Prestige Trim, Quattro AWD, Sport Package
* Prices include $925 destination charge.
Audi’s Q3 isn’t a new vehicle by any stretch. It was first launched in 2011 but didn’t make it to America until the 2015 model year. That’s because the Q3 plays in a segment that’s new to us — the even-smaller compact luxury crossover. This form factor isn’t new to the rest of the world, but until Land Rover brought the Range Rover Evoque to America and BMW followed up with the X1, there wasn’t a real focus on small luxury soft-roaders.
With crossovers being the latest craze and every luxury brand looking to move down-market to capture fresh young buyers, it was only a matter of time till Mercedes and Audi joined the party with the GLA and the Q3. With a “low” $33,700 starting MSRP, the baby Audi is the more practical counterpart to Audi’s sharp-looking A3 sedan. Although CamCord shoppers have to give up a great deal of room to upgrade to the A3, the Q3 has the potential to be a more sensible option.
The 2015 Mercedes-Benz GLA250 lives within the margins.
The compact — which shares more in common with a hatchback than an SUV — has a life thanks to America’s all-things-crossover obsession. It dodges definition, shirks consistent fuel-economy ratings and even has me guessing on my own feelings toward it. For sure, I can’t find a single offensive thing about the GLA. Even more, I can’t find a single thing to love.
After reporting a net loss of $38 million in its Q3 filings earlier today, Tesla suffered a loss of over 12% in afterhours trading. The stock, which has grown nearly 80% since the beginning of the year shot down almost $22 since the markets closed on November 5th.
OMG! Toyota Makes Money At Home! What's The Nikkei Going To Do Now? Also: Toyota Top Management Answers Mike978's Questions
Waiting for Godot-san
In my report from Toyota’s quarterly results, there was one thing I forgot to mention decided to keep for later. As long as I have been going to these things, and it has been a while, the first question has always been given to a Nikkei reporter. Old Japanese custom, like AP (and recently Reuters) at the Whitehouse. As long as I have been going to these things, the Nikkei reporter always asked when Toyota wants to make a profit and pay taxes at home. That kabuki dance is disguised as “when can we expect positive results on an unconsolidated basis?” The folks in the room need no translation, they roll their eyes and pens, or check their Brakkubely. That’s a Blackberry for you. This time, it was different.
Here we go. Are you sitting down?
Presenting its Q3 financials in Tokyo today, Toyota delivered much higher profits and much higher sales while promising even higher profits at pretty much flat sales for the future. With a man on his left who looked like an accountant, and who had a big accountant’s briefcase on his knee, ready to pull whatever document his master needs, and a very quiet Shigeru Hayakawa on his right, Toyota Senior Managing Officer Takahiko Ijichi did forecast a net profit of 860 billion yen ($9.3 billion) for the fiscal year ending on March 31, 2013 up from the previously forecasted 780 billion yen. He also signaled a pause in Toyota’s rapid expansion:
Was it luck? Was it hard work? A mixture of both? After escaping a near collision with fate in Iwaki, and not even getting its feet wet in Thailand, Nissan emerges as the most successful after the trials brought on by the unholy triad of tsunami, flood and yen. We said this a while ago when we compared 2011 production numbers of Japan’s majors.
Today, we go to Yokohama to check the balance sheets.
SUVs are hot in China, and VW’s SUVlet, the Tiguan has turned into a hot seller. In the last few months, it steadily worked itself up the SUV charts and was in the second position in July, behind the Honda CR-V, and before the Nissan Qashqai. In China, the Tiguan is made by Volkswagen’s southern joint venture with Shanghai Volkswagen. What to do when Volkswagen’s Northern joint venture with FAW develops offroadish desires?
China Car Times heard around the hot water dispenser (they like to drink hot water in China, yuck, I know) that First Automobile Works has signaled its wishes that Volkswagen should go off-road with them. Volkswagen can hardly give them the Tiguan as well. That would be taking socialism too far. So what’s Volkswagen to do?
As of this moment, Audi has no plans to bring its Q3 “Crossunder” into the MINI Countryman/BMW X1/Nissan Juke/Mitsubishi Outlander Sport battle for the hearts of downsizing CUV-lovers brewing here in the US market… and yet Audi of America is teasing the thing on its Youtube channel. Does this mean we can expect this 3,300-ish lb CUV, offering 48.2/16.24 cubic feet of storage (rear seats down/up) to arrive stateside at some point? We’d certainly be surprised if that didn’t happen somewhere down the line…
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- Spookiness I kind of like this. Somebody in my building had a late (77?) Chevy Concours, silver with burgundy cloth interior.
- Jeff S These were good cars. Came close to buying a new 75 Chevy Nova 2 door. My father had a 62 Chevy II 300 for 12 years which my 2 brothers and I drove to high school and then I drove the 1st year of college. My middle brother had a 2 door Limited Skylark X car with the 4 cylinder, fuel injection, and 4 speed manual that went well over 200k miles--it had the most comfortable red velour seats it was light gray with a maroon half vinyl top. He never had to replace the clutch and mostly routine mileage mostly highway.
- MrIcky Toyota keeps hinting at 'the next big' and hasn't really delivered that much new since the prius. Maybe the most conservative company on the face of the planet for good and bad and if it's a 3-5 year time frame to come into existence, who cares. Hopefully the new Taco brings that vehicle up to date and it isn't just a new fascia and a 12 inch touch screen. Yes I've read all the rumors, we'll see. Maybe they'll close the c channel frame and put disc brakes on it?
- Cprescott I owned a 1985 Lincoln Town Car and loved it. It was like driving your living room. On the highway it would get 30mpgs and I routinely managed 20 mpgs through careful driving. Interior materials were not so wonderful, but it was very quiet and rode well and for a barge, it actually handled okay.
- Johnny ringo The Skylark didn't get the v6 with the offset crankshaft journals until 1978, in 1977 my mother was shopping for a new car; we were looking at a Skylark with the v6. I test drove it and at idle it seemed like a paint shaker was under the hood. She finally bought a 2dr Skylark ( an S/R model I believe) with the 305 Chevy engine. I would rate it as average, nice but certainly not exceptional.