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BMW i3 to be priced around $40,000

According to Automotive News, the BMW i3 electric hatchback will likely be priced around $40,000, or similar to that of a well-equipped 3 Series sedan, when it goes on sale later this year. This information was revealed during an interview where AN spoke to Ludwig Willisch, CEO of BMW North America. The i3 will likely qualify for a $7,500 tax credit from the US federal government, though AN reports that a BMW spokesperson could not confirm this just yet.
In addition to the all-electric i3, BMW will offer a range-extended version that uses a 0.65-liter two-cylinder motorcycle engine and auxiliary generator to charge the car's battery on the go. Automotive News says pricing for this model is still unclear, as is whether or not the range-extended i3 will be eligible for the $7,500 tax credit. Of course, buyers needing a vehicle for longer trips will be able to borrow one from the automaker.
Automotive News also reports that the majority of BMW's 338 dealers in the United States will be able to sell the i3, as well as the upcoming i8 hybrid sports car. Dealerships have until June of this year to opt out of this program, however.

Toyota passes BMW as most valuable car brand

An annual market study of the strongest brands across various industries has seen Toyota leapfrog BMW as the world's most valuable automotive brand. Toyota's 2013 brand value rose to $24.5 billion, up 12 percent versus 2012 numbers according to market research company Millward Brown's BrandZ Top 100 Most Valuable Global Brands list. BMW's value fell slightly; down by 2 percent to a total of $24 billion.
Mercedes-Benz finished in third place in the automotive category, up 11 percent from 2012 for a valuation of $18 billion. Honda ($12.4 billion, down 2 percent) and Nissan ($10.2 billion, up 3 percent) rounded out the top five for the category. Volkswagen was the only other auto brand that finished in the top 100 overall, in 100th place. Audi made the greatest percentage gain over 2012, up 18 percent to $5.5 billion, but finished outside of the top 100.
Technology companies dominated the overall list, with Apple, Google and IBM ranking one through three. Couture brand Prada was 2013's biggest gainer, rising by 63 percent over 2012.

Meet the inventor of the BMW 3 Series wagon

It's hard to imagine, but once upon a time, there were only two BMW 3 Series variants: the coupe and sedan. Back before gran coupes, convertibles and yes, even touring models were available, buyers could only get their 3 Series fix if it came with two or four doors and a fixed roof. Back in the mid '80s, BMW engineer Max Reisbock was having some trouble fitting his whole family into his four door. Rather than suck it up and buy a van, he picked up a wrecked 3 Series and got to cutting in a buddy's garage. Months later, he had the very first 3 Series Touring ever built.
At first, he kept the the car to himself, using it to haul friends and family around, but he eventually showed it off to his friends at work. When the BMW executives found out about his project, they called him up to take a closer look. After putting an eyeball on the car, they took it, copied his design, made a few tweaks and quickly rolled out the first production 3 Series Touring. How's that for validation? Check out the video below for Reisbock's story.