Volkswagen's (VOWG_p.DE) luxury division Audi will miss its benchmark for profitability this year as costs for the diesel emissions scandal and possible recalls of cars fitted with Takata Corp (7312.T) airbags are weighing on results.
First-half operating profit at Audi plunged 18 percent to 2.4 billion euros (2.02 billion pounds) Wholesale Wojciech Szczesny Jersey , including 265 million euros of special items which pushed down the brand's operating margin to 8 percent from 9.8 percent a year ago, Audi said on Friday.
Audi, the main contributor to VW group profit, added 165 million euros of provisions in the second quarter for its emissions scandal and effects of potentially faulty Takata airbags, raising the amount of funds set aside for both issues since last year to 563 million euros, a spokesman said.
The Ingolstadt-based carmaker Wholesale Tomas Rincon Jersey , which to date has been targeting a profit margin of between 8 and 10 percent, on Friday said it now expects "a level slightly below this corridor", without being more specific.
The relapse on profitability coincides with a strategic overhaul at Audi which plans to increase spending on electric cars, digital services and autonomous driving in coming years as part of VW's post-dieselgate shift of business priorities.
"To preserve our innovation and investment course, we will raise efficiency in all parts of the company," finance chief Axel Strotbek said.
VW on Thursday reported a 12 percent drop in quarterly profit at its troubled passenger-car division Wholesale Stephan Lichtsteiner Jersey , a big improvement on the quarter before but highlighting the challenges it still faces to overcome the emissions scandal.
But Audi, which slipped behind Daimler's (DAIGn.DE) Mercedes-Benz last year into third place among the top-selling luxury car brands, said it still counts on more than 20 all-new or redesigned models this year to beat 2015's record 1.8 million auto sales.
There are few beaches on Hong Kong Island you can reach after a hike, rewarding your efforts with relaxing scenery, a cool swim and perhaps even some rolling surf. I'm going to suggest a fantastic and scenic route.
Starting from a bus stop at the beginning of Shek 0 Road is a great trail that leads up and over Dragon's Back, perhaps the finest short hike in Hong Kong If you have time to spare Wholesale Stefano Sturaro Jersey , first head down from the bus stop to the beach at To Tei Wan which, though not a fine swimming or sunbathing beach, has a quaint abandoned village and is home to the Hong Kong Hobie Club. You'll see the members' sailboats arrayed along the sand. From there, start climbing backs the Hong Kong Trail, which leads through trees and bamboo and up a scrubby hillside. Turn right at the top of a steep flight of steps, and you'll come to a cluster of boulders Wholesale Sami Khedira Jersey , with great views across Tai Tam Bay to Stanley.
Retracing your steps from the boulders, continue along the meandering path, then take a right turn, uphill again. In minutes, you'll be on the Dragon's Back ridge, savouring brilliant views down to Shek 0 and across the sea to Tung Lung Island and the Clearwater Bay Peninsula.
When the northeast monsoon is blowing Wholesale Rolando Mandragora Jersey , Dragon's Back is popular with paraglider pilots who climb up with their heavy packs, then launch themselves from grassy slopes, hang in the air, and eventually drift down to a beach at Shek O.
The trail heads north now, sometimes burrowing between bamboo and shrubs then climbing to a hilltop with more outstanding views. Big Wave Bay soon appears below you - a short stretch of sand in a narrow cove between rocky headlands. Then, the Hong Kong Trail drops Wholesale Rodrigo Bentancur Jersey , turns away from the ridge, and you've seen the last of Big Wave Bay for some time. Follow an easygoing woodland trail, crossing occasional small streams. The trail emerges close by a correctional services centre near Tat Tani Gap. The beach is closer now; just follow the signs pointing along a service road, then take a right, to drop down, and at last arrive at Big Wave Bay.
Big Wave Bay seems far removed from most of Hong Kong Island: walking to it Wholesale Paulo Dybala Jersey , you pass through a small village, with houses amidst fields, the hillside stretching above. Though it's small, there's a good beach, with a lifeguard service in summer, and facilities including showers. It's a fine place for unwinding and swimming after a hike. Big Wave Bay is a magnet for surfer dudes Wholesale Paolo De Ceglie Jersey , who have only ripples to ride in calm weather, but arc drawn here when a typhoon roars close by and surf's UP! You'll be happy to stroll along the rocky shore to the left and path leads to an old rock carving - perhaps a bit boring to look at, though the location is good, with more views of this marvellous stretch of coastline.
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