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Volkswagen has booked profit up 55% to EUR2.8bn (US$3.5bn) with sales revenue rising 1.4% to EUR147.7bn for the first nine months of this year.

VW Group posted higher-than-expected operating profit in the third quarter, boosted by strong demand for Audi and Porsche models in Europe and China. Earnings rose 16 percent to 3.23 billion euros ($4.07 billion), VW said.

VW Group posted higher-than-expected operating profit in the third quarter, boosted by strong demand for Audi and Porsche models in Europe and China. Earnings rose 16 percent to 3.23 billion euros ($4.07 billion), VW said.

BMW has now confirmed the world premieres of the X5 M and X6 M for November's LA international auto show.

James Verrier, BorgWarner CEO since January 2013, is working to double the size of the powertrain parts supplier to $15 billion in revenue by 2022.

From Formula1.com

Formula 1 will adopt a revised qualifying format for this weekend's 2014 Formula 1 United States Grand Prix at Circuit of the Americas in Austin following the withdrawal of Caterham and Marussia from the event.

Now, instead of the slowest six cars being eliminated from Q1 with six more following in Q2, the stewards have decided that the slowest four cars will exit in Q1, followed by another four in Q2.

The top ten Q3 shootout will remain the same.

Caterham and Marussia F1 Teams are both missing the race in Texas as they seek solutions to their current financial issues.

From GMM

Ferrari will be floated on the stock exchange next year.

The Maranello outfit - the F1 team and the producer of exclusive sports cars - will be spun off from the Fiat Chrysler parent group, with 10 per cent of the shares to be up for grabs to the public on a US and possibly a European stock market.

"Coupled with the recent listing of (Fiat Chrysler) shares on the NYSE, the separation of Ferrari will preserve the cherished Italian heritage and unique position of the Ferrari business," confirmed chairman John Elkann.

From GMM

With Caterham now in administration, the backmarker's former management may be returning its focus to the Forza Rossa project.

Before the mysterious investment group bought Caterham from Tony Fernandes earlier this year, Colin Kolles was deeply involved in trying to get a Romanian project called 'Forza Rossa' up and running with FIA approval.

Amid the fallout of the Caterham collapse, it emerged that involved with Kolles in the Leafield project was someone called Constantin Cojocar.

During its recent ownership dispute with the Kolles team, Caterham Group claimed the new operating company was owned by "one of their cleaners".

Colin Kolles. (Photo: WRi2)

But writing in the Independent newspaper, F1 business journalist Christian Sylt says Cojocar is also a former professional footballer for Steaua Bucharest, a Romanian club.

Sylt claims court documents as Caterham went into administration quote Cojocar as confirming that Forza Rossa has been granted an entry to race in F1.

"In June 2014, Forza Rossa received a letter of intent from the FIA allowing it to enter formula one in the next two years," Cojocar said.

"Forza Rossa hopes to race in the 2015 season, but time to prepare is running short."

Funding may also be a problem. Although the project is led by Ion Bazac, a former Romanian government minister, Cojocar admitted that Caterham collapsed because investors failed to pay running costs.

"I understand that Forza Rossa is looking at other possible arrangements for 2015 and I have found it very difficult to contact my backers in Romania," he said.

It is a strange time in the second half of the F1 grid at present, as the sport's two backmarkers including Marussia fail but Forza Rossa and Haas F1 Team look to get up and running.

A crucial date is 1 November, when teams must pay a $500,000 fee to officially enter the 2015 world championship, according to the Swiss newspaper Blick.

Daniel Ricciardo, meanwhile, may now work for one of F1's richest and most competitive teams, but the Red Bull driver actually made his debut in 2011 for the now-defunct HRT team.

Daniel Ricciardo, HRT, 2011. (Photo: WRi2)

Speaking in Austin, he said it is a shame F1 is losing more backmarkers.

"It (HRT) was definitely a good stepping stone. It allows you to learn under the radar," said the Australian.

"So for that it would be a real shame, and for numbers in general. There's nothing like seeing a full grid -- it's a great spectacle. From that side and from the driver development side, we need more cars and teams. It would be a shame if this is a permanent loss," Ricciardo added.

From press release

Making his third-career NASCAR Camping World Truck Series (NCWTS) start this weekend, Cameron Hayley will be behind the wheel of the No. 30 Cabinets by Hayley Chevrolet Silverado for Turner Scott Motorsports (TSM) at Texas Motor Speedway.

The 18-year-old Canada native will make his first-career start at the 1.5-mile Fort Worth, Texas track on Friday night during the WinStar World Casino & Resort 350. Joining Hayley and the Turner Scott Motorsports effort in Texas will be Ben Kennedy (No. 31) and Tayler Malsam (No. 32).

"I'm really looking forward to getting back behind the wheel of the Cabinets by Hayley Silverado on Friday night in Texas. It's been a few weeks since I've been behind the wheel of a racecar, so I'm really looking forward to practice on Thursday afternoon,” said Cameron Hayley.

“It will be my first time at Texas, so I'm going to rely on my TSM teammates and try and soak in as much information as I can from them. [Crew chief] Shannon [Rursch] and the guys have worked really hard to prepare a great truck for me; I can't wait to race under the lights on Friday night."

From press release

Honda Indy Toronto is returning to the streets of downtown Toronto in 2015 and will take place June 12-14, instead of its traditional July dates.

Contrairy to the rumour, the race will not be moved to the Canadian Tire Motorsport Park (Mosport).

The announcement comes after an extended period of negotiations and coordination between all major supporters and partners of the annual event including Honda Canada, INDYCAR, the City of Toronto, Exhibition Place, Tourism Toronto and Green Savoree Toronto, promoters of the race.

In the end, organizers were successful in working with the City of Toronto, Exhibition Place and the 2015 Pan-American Games to accommodate both events next summer.

The 2015 Honda Indy Toronto will mark the 28th running of the annual event in downtown Toronto.

Start of the 2013 IndyCar race at Toronto. (Photo: IndyCar)

From press release

Within weeks of wrapping up another successful edition of Targa Newfoundland, organizers are already preparing for the 2015 event.

That includes the announcement that the promotional campaign for Targa 2015 will kick off at the inaugural Motorama Custom Car & Motorsports Expo. The show takes place March 13, 14 & 15, 2015 at Toronto's International Centre.

For the past several years, Targa Newfoundland has been a fixture at the Canadian Motorsports Expo (CME), which was held annually in February at the same venue. There, Targa officials connected with competitors, sponsors and the media to discuss the unique, world-class event, which takes place every September in beautiful eastern Newfoundland.

For 2015, the Canadian Motorsports Expo will be incorporated into the new Motorama show, which will occur on the same mid-March weekend that has - for four decades - featured Canada's largest custom car and hot rod show. The new Motorama show appeals to a wider range of automotive and racing enthusiasts, making Motorama an even better promotional fit for Targa Newfoundland.

Next year's Targa Newfoundland takes place September 13-18 (2015).

As in past appearances, the Targa Newfoundland display will feature multiple examples of race-ready machinery, along with their drivers and support crews. Organizers of the Targa will also be on hand to answer any questions, while encouraging potential entrants into giving this unique automotive experience a try.

The family of Jules Bianchi issued the following statement October 30th, by way of an update on Jules' medical condition. The Marussia F1 Team is supporting the family by facilitating its communication.

“It will be four weeks this coming Sunday since Jules' accident and he remains in the Mie General Medical Center in Yokkaichi. His condition continues to be classified by the medical professionals here as critical but stable. Although we have no new information to give, we recognise that there are a huge number of people all around the world who are supporting Jules and willing him on in his fight. We owe it to his many fans to acknowledge the continued outpouring of messages, and to provide some information, however brief it may be.

“Jules does indeed continue to fight. Although there have been some reports suggestive of plans for Jules' treatment, at this time his fight will continue here in Yokkaichi. We are taking things step by step.

“Once again, we would like to offer our sincere appreciation for the patience and understanding being shown towards our family at this very difficult time. We also continue to be comforted by the knowledge that Jules is receiving the best possible care at the Mie General Medical Center, with the doctors here remaining in constant contact with the neurosurgeons at the University La Sapienza of Rome, and Professor Gerard Saillant, President of the FIA Medical Commission.

“We will provide a further update when it is appropriate to do so. In the meantime, thank you to everyone who continues to keep Jules in their thoughts and prayers.”

From GMM

Audi has confirmed the signing of former Ferrari team boss Stefano Domenicali.

According to DPA news agency, a spokesman for the Volkswagen-owned marque admitted that the 49-year-old Italian will start work at Ingolstadt on November 1.

The spokesman also confirmed reports that Domenicali would work in the area of service and mobility, due to his extensive international experience.

But the reports had triggered rumours Audi's longer term plan was for Domenicali to lead the German marque into formula one, perhaps with a project involving Fernando Alonso.

The Audi spokesman, however, insisted: "Mr Domenicali will not be head of motor sport."

From GMM

Fabian Vettel, once photographed as a child playing with a remote control car in the F1 paddock, is now 15 and embarking on a foray in Poland's Volkswagen Golf Cup.

Germany's Sport Bild said the young Vettel tested a car at the Lausitzring in Germany, saying afterwards: "It was faster than I expected, although it just looks like a normal Golf. For me it was the first time I've driven a race car with gear paddles, but the brakes were the most impressive. I did my laps with no problems and had a lot of fun."

Sport Bild said Vettel jr's outing was a precursor to the 2015 season, which takes place mostly in eastern Europe with the more than 300hp cars.

From GMM

F1 looks set to end its controversial clash with a Nascar race in the same state of Texas for the 2015 season.

This weekend, the United States grand prix is taking place at the same time as the Texas 500 at the Texas Motor Speedway, some 3 hour drive away.

"They (F1) are going up against us, we're not going up against them," said the Nascar venue's disgruntled president Eddie Gossage, according to the local Star-Telegram newspaper.

"This is our date and has been since 2005. (But) people are being forced to choose and some are going to come to us and some are going to choose them.

"I can be told I don't understand the world schedule all day long, but I do," he added. "Funny how this turns out to be the only day they can be in Austin. How Funny.

"And in 2015, I see where they are running on another date."

Indeed, the provisional F1 calendar for 2015 shows that the Austin race will be held a week earlier in October than this year's edition.

Series' officials have released Thursday the 2015 Verizon IndyCar calendar.

Two new races and the 99th Running of the Indianapolis 500 Mile Race highlight the 2015 Verizon IndyCar Series schedule announced today.

The 17-race campaign begins March 8, in Brasilia, Brazil and concludes August 30 at Sonoma Raceway in Sonoma, California.

The schedule includes events on technically challenging road and street courses, short ovals and superspeedways.

Photo: IndyCar

2015 Verizon IndyCar calendar

March 8  Autódromo Internacional Nelson Piquet (Brasília)
March 29  Streets of St. Petersburg
April 12  NOLA Motorsports Park (New Orleans)
April 19  Streets of Long Beach
April 26  Barber Motorsports Park (Birmingham)
May 9  Grand Prix of Indianapolis
May 24  Indianapolis 500 Mile Race
May 30  The Raceway at Belle Isle Park (Detroit)
May 31  The Raceway at Belle Isle Park (Detroit)
June 6  Texas Motor Speedway
June 14  Streets of Toronto
June 27  Auto Club Speedway (Fontana)
July 12  The Milwaukee Mile
July 18  Iowa Speedway
August 2  Mid-Ohio Sports Car Course
August 23  Pocono Raceway
August 30  Sonoma Raceway

McLaren-Mercedes driver Jenson Button said in Austin that he was not very keen on seeing Formula 1 teams entering three cars in the next future.

Button was asked what he thought about seeing two Formula 1 teams entered administration.

“What happened to Caterham and Marussia is really a shame,” Button told journalists in the paddock of the Circuit of the Americas in Austin today.

“It's not the first time that this sort of thing happens, and it won't be the last one,” the Briton added.

“Three-car teams would change the sport dramatically. If you don't build one of the two best cars on the grid, it becomes almost impossible to score points because the best two will finish 1 to 6. These two teams would also lockup the podium,” Button explained.

“Hopefully, we'll see them back on the grid soon,” he concluded.

Jenson Button, McLaren MP4-29-Mercedes. (Photo: WRi2)

From GMM

With Ferrari currently having three champion drivers under contract, speculation about Fernando Alonso's future continues to run wild.

Some reports suggest the Italian team and the Spaniard are in a sort of Mexican standoff, each wanting the other to legally terminate their contract for financial reasons.

Others believe Ferrari could in fact make do with Alonso, Kimi Raikkonen and the apparently newly-signed Sebastian Vettel if the sport moves to three-car teams for 2015.

F1 legend and former Ferrari driver Gerhard Berger thinks the fabled outfit should make the most of the contractual impasse with Alonso and instead oust Finn Raikkonen, who has notably struggled this year.

"If I was Ferrari, I would keep Alonso," he told Germany's Sport Bild.

"Because then, with Alonso and Vettel, you would have the two best drivers in the world together in one team," Austrian Berger added.

However, that scenario would still pose Ferrari with the problem of having to pay out millions to compensate Raikkonen -- just as it did in 2010 after replacing him with Alonso.

Fernando Alonso, Ferrari, at Singapore. (Photo: WRi2)

While the standoff continues, German Vettel is keeping completely silent on the matter.

"I'm sorry," he is quoted by Italy's La Gazzetta dello Sport as having said in Austin on Wednesday, "but I can't say anything about my future.

"It's not up to me, but I hope to be able to speak very soon."

Sebastian Vettel also said he understands why Red Bull has blocked him from testing in the days immediately after the Abu Dhabi finale next month.

"There are reasons for the decision," he said. "Disappointed? Let's just say I didn't expect something different."

From GMM

Organisers of the US grand prix face an embarrassing explanation after botching the details above Daniil Kvyat's garage at Austin.

Observers at the Austin circuit in the days before the US grand prix this weekend have noticed that the Russian driver's name is accompanied by the wrong national flag on the pit building.

Kvyat's name is actually shown with the Dutch horizontal tricolour, featuring the colours red, white and blue from top to bottom.

The Russian flag is remarkably similar, but with white at the top followed by blue and then red.

Grid girl at Sochi with the Russian flag. (Photo: WRi2)

Weeks after he got his first taste of a Formula 1 car with Lotus in Spain, newly crowned Formula 3 champion, Esteban Ocon, drove a Ferrari F10 at Fiorano.

The F10 is the car that the Scuderia Ferrari ran in the 2010 Formula 1 World Championship.

The test was his prize for winning the championship, which the Frenchman managed in his first season in the category.

Overseeing the test was the head of the Ferrari Driver Academy, Luca Baldisserri, who had this to say about the 18-year-old driver.

Esteban Ocon, Ferrari F10, Fiorano. (Photo: Ferrari)

“It's always very exciting for we engineers to be there when a young driver gets behind the wheel of a Ferrari Formula 1 car for the first time, because even if we are used to working with rookies, it's a real surprise to see someone to take to the track, showing a level of professionalism as demonstrated by Esteban today,” Baldisserri said to Ferrari.com.

“Despite it being his first time in one of our cars, he tackled the test without making any mistakes and was quick right from the start. It's not an easy task, especially on an emotional level, because I reckon that driving a Ferrari is a dream for anyone who wants to be a professional racing driver and we hope that today's good results are a good sign for his future.”

After his day in Fiorano, Ocan said, “ It was great to walk around the premises of a great company like Ferrari. Only by being here can you get an idea of how much history and tradition you can sense from the place. I am very honoured to have had this opportunity. The track is very nice, very technical and varied and the car provides plenty of excitement with all its power and the way it responds immediately to driver input. I would like to thank all the mechanics and the team which supported me and I hope this day will prove useful for my future as a racing driver.”