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BMW, Sixt carsharing making money most places

The DriveNow carsharing service, which is a partnership between BMW and Sixt, is growing quite rapidly. "We've been surprised about the explosion of new subscriptions, which has helped boost revenue," says Sixt CEO Erich Sixt. The number of DriveNow users has increased from 215,000 at the end of last year to 300,000 today. Sixt says that DriveNow has been profitable in cities in which it has been established for over a year. Perhaps encouraged by its unexpected success, DriveNow is set to expand even further. The service is currently available in five German cities, as well as in San Francisco, California, and the involved parties are considering a five-year plan to expand to 25 more cities in Europe and the US. Still, Sixt expects DriveNow to report a "small-to-medium, single-digit" loss for this year, according to Sixt CFO Julian zu Putlitz. It's no big deal, just the result of startup costs in new areas. Sixt, which is Germany's largest car rental company, also reported that its own second-quarter income rose 12 percent to $37.7 million, while sales rose 7.6 percent to $585.78 million. DriveNow uses a membership and pay-per-minute model that allows customers to rent BMW and Mini vehicles as they need them. The service also acts as a way to let potential customers try out the vehicles and familiarize themselves with the brands before they buy cars of their own at some point. Depending on the location, DriveNow's fleet includes the BMW 1 Series, ActiveE and X1, as well as several Mini vehicles like the Cooper, Clubman and Countryman. Featured Gallery 2012 BMW ActiveE: First Drive View 31 Photos News Source: BloombergImage Credit: Copyright 2014 AOL Green BMW MINI car sharing profit revenue drivenow sixt

Lots of new cars were unveiled in Munich this week. Here's what you might've missed

The 2021 Munich Auto Show is happening this week and due to ongoing corporate travel restrictions, we remained firmly planted on this continent. So, although we can't tell you exactly what it's like inside the futuristic new Mercedes EQE electric sedan or fully appreciate the funky Volkswagen ID.Life concept, there's no shortage of details and analysis to provide.  Obviously, as Germany's premier auto show in 2021, the cars unveiled were primarily from the German brands. We also focused mostly on the cars that might actually make their way to the United States, or at least inspire those that will.   2023 Mercedes-Benz EQE is an electric alternative to the E-Class While the EQS paved the way for Mercedes' electrified future, much like the S-Class before it, the EQE stands to be the car that will move in far greater numbers -- much like the E-Class before it. Mercedes-Benz EQE 350 View 12 Photos   Mercedes-Maybach EQS Concept shows SUV future of the flagship brand Opulence will still have a place in an electrified future, as Maybach gets into the EQ game with a grand electric SUV. Mercedes-Maybach EQS Concept View 4 Photos   Volkswagen ID.Life concept previews the city car's high-riding EV future Well, isn't this adorable? Though perhaps a tad derivative of the Honda E, Volkswagen's blocky little crossover EV nevertheless represents a handsome new direction for VW design. We like this better than the rounded looks of the current ID.3 and ID.4.  2021 Volkswagen ID.Life concept View 20 Photos   BMW i Vision Circular is a 100% recycled and recyclable hatch Behold, the next BMW 3 Series! Just kidding. Besides this, BMW displayed cars in person for the first time that it had previously only unveiled on the interwebs, including the new 2 Series and revised iX3. It also unveiled some bikes. BMW i Vision Circular Concept View 63 Photos   Audi's GrandSphere concept was designed as a road-going private jet Does Audi know what a sphere is? Cause this isn't anything like one. Still, it's quite a handsome thing, and as one of three Sphere-branded concepts, previews the next direction of Audi design (which is pleasantly reminiscent of two-decade-old Mazda design). No complaints here. 2021 Audi GrandSphere concept View 26 Photos   Porsche Mission R is a 1,000-horsepower electric monster Just like the Mission E previewed the Taycan, this apparently previews another future car.

BMW reveals X4 M40i performance crossover

The first details and images of the new BMW X4 M40i leaked out Tuesday, and now the Bavarian automaker has released all of the information on its new performance crossover. The latest model in BMW's M Performance line offers an array of upgrades over the existing X4, and they start under the hood. That's where Munich fitted a new 3.0-liter turbocharged inline six based on the one found in the X4 xDrive35i (whose place this model takes at the top of the X4 lineup). The engine is tuned to deliver 355 horsepower and 343 pound-feet of torque. In addition to the twin-scroll turbocharger, the engine also boasts variable cams and valves, as well as a high-precision injection system. This translates to a 0-60 time of 4.7 seconds – a figure which BMW cites as "best-in-class." Power is channeled to all four corners through an eight-speed automatic transmission and a re-calibrated xDrive system that's biased to the rear wheels. Naturally the suspension has been upgraded as well, with increased camber, stiffer springs, reinforced stabilizers front and rear, and active dampers. The steering rack has also been retuned. You'll be able to tell the M40i model from lesser X4s by its enhanced appearance. Though the aero kit looks largely the same as the stock version, BMW has fitted the M Performance model with metallic accents, 19- (or available 20-) inch alloys wearing Michelin Pilot Super Sport rubber, and a variable sport exhaust. Inside, it's also upgraded with a unique steering wheel, shifter, sports seats, and specific badging. This adds up to a crossover that may not be a full-on M model, but promises up the performance quotient significantly over the rest of the X4 line. THE NEW BMW X4 M40i - World premiere of the new inline 6 cylinder TwinPower Turbo engine. - Intelligent BMW xDrive: four-wheel drive with rear-wheel-drive characteristics. - A sporty chassis specifically tuned to M Performance specifications. Woodcliff Lake, N.J.- September 30, 2015... Today, with the introduction of the new BMW X4 M40i, the successful BMW X4 has gained a new top model. In the Sports Activity Coupe segment (SAC), the BMW X4 M40i is setting new standards with enhanced driving dynamics and best-in-segment acceleration. The new BMW X4 M40i will be available at dealers starting February 2016. Design. The exterior of the new BMW X4 M40i makes it stand out as a clear member of the BMW M Performance family.