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BMW profit of $2.7B is down as automaker invests to keep luxury lead

Despite selling 6.6-percent more vehicles - a record by volume - and posting higher revenues in the second quarter of 2013, BMW Group's profit of 2.07 million euros ($2.75 billion) is down 8.8 percent from last year. Investments in new technology (e.g. the new i3) and personnel, in addition to a competitive market, are to blame, BMW states. But the automaker remains committed to its fiscal targets for 2013, which, Chairman of the Board of Management of BMW AG, Norbert Reithofer, says will be "on a similar scale to 2012."
The BMW brand's sales performance in the first half of the year, which increased by 7.7 percent to 804,258 vehicles delivered, was good enough for it to maintain its lead in the luxury market, narrowly beating Audi, which delivered 780,510 vehicles, Automotive News reports. Mercedes-Benz delivered 694,433 vehicles to cement third place.

Recharge Wrap-up: Tesla Model X assembly video, autonomous Apple test car spotted?

A video from Tesla shows factory robots assembling a Model X. The teaser video is titled, Team of robots gives Model X its backbone, as the machines are working on the car's structural support. It gives a rare glimpse into the underpinnings of the Model X, and it also reminds people that the cars are being built despite previous delays. See the video above, and read more at Teslarati. A Chinese electric vehicle company has hired multiple executives from BMW's i sub-brand. Sources close to the matter tell Automotive News Europe that Future Mobility, an EV company backed by Tencent Holdings and Foxconn Technology Group, has hired Dirk Abendroth as VP of software and connectivity, Benoit Jacob as VP of design, and Henrik Wenders as VP of marketing. The former BMW employees will join former BMW i8 project manager Carsten Breitfeld, who is Future Mobility's CEO. Abendroth and Wenders confirmed their new positions at the Chinese company, while Benoit didn't immediately respond to ANE. A BMW spokesman declined to comment. Read more at Automotive News Europe. A blogger at TechRadar claims to have spotted a possible Apple autonomous test vehicle. Author Michelle Fitzsimmons says the white, unmarked Ford Transit was kitted out with various apparatuses, including Lidar sensors and cameras on the roof. While she originally thought it could be a van from Apple's Maps service, the Lidar and a couple other oddities lead her to speculate that it is actually using self-driving technology. If not testing autonomous features itself, the van could also be gathering data for a future driverless vehicle. Read more at TechRadar, or from Apple Car Fans.

2018 Kia Stinger vs. other luxury hatchbacks compared by the numbers

Ten years ago, if you had told us that one of the many new luxury segments to develop would be sedan-style hatchbacks, we'd have said you'd lost your mind. And yet, here we are today with not one, but four cars competing in just such a niche upscale segment: The Kia Stinger, Buick Regal Sportback, BMW 3 Series Gran Turismo and Audi A5. That's just in one size and price bracket. Two of the manufacturers listed here make larger versions of each luxury hatchback. We aren't entirely sure how it happened, but we're not going to complain, because we love the idea of a car with almost no compromise: luxury features, sporty performance, and plenty of practicality. Try Autoblog' s Car Finder to search for your next new vehicle. One of the reasons we're taking a look at these cars right now is that Kia has recently released pricing for its entry in the segment, the Stinger and Stinger GT. Buick wasn't far behind with the Regal Sportback and Regal GS, nor was Audi with the A5 and S5. So it seemed like an appropriate moment to look at the numbers and see which come out ahead or behind, with victors in each category highlighted with bold and underlined text. What we found when comparing these cars' statistics is that each one has a clear area of expertise. For performance, it's hard to beat the four-cylinder Kia Stinger and the V6 Stinger GT. The four-banger has the most horsepower of the four cars, and is just behind on torque. The V6 has the most power and torque among the six-cylinder versions. The Stingers are also the second lightest of the group when equipped with rear-wheel drive, though they fall to third with all-wheel drive. Space is a split between the Buick Regals and BMW 3 Series Gran Turismos. The Buicks have the most cargo space with the rear seats up or folded by a significant margin. The BMW on the other hand generally offers more space for passengers. It's up to you what's most important. Compare these and other potential new vehicle purchases using our tool. When it comes to cost, nothing can beat the four-cylinder Regal's base price of under $26,000. But if a V6 is what you're after, the Stinger GT is the cheapest. Neither matches the Audi A5 and S5 for fuel economy, though. Both Audis have the highest numbers for city, highway, and combined EPA estimates. Related Video: