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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

Bimmerfest puts BMW's heritage on display and in motion

The typical Memorial Day weekend is celebrated with family and friends and plenty of food, but for thousands of BMW fans it was spent at Auto Club Speedway in Fontana, CA, for the 17th annual Bimmerfest. The event expanded significantly in the last few years with a move to the massive racetrack complex outside Los Angeles in 2016, and a second day was added this year. The celebration of the Roundel is the largest of its kind, boasting 4,000 cars and 10,000 people in attendance. There's something for just about every type of owner. For those wanting serious time behind the wheel, the oval and road course were open to hot laps, and there was the Bimmer Challenge race from Speed Ventures. An autocross course was set up in an adjacent parking lot. Those wanting to compete in less dynamic fashion had a Battle of the Bimmers car show, and the Heritage Corral and Centennial Corral put the century-long history of the brand on display. Perhaps our favorite part of the event was the BMW Fan Zone display, which showcased a few of the company's most iconic contemporary racecars. A V8-powered 2001 BMW M3 GTR and a McLaren F1 GTR sporting a BMW-developed V12 provided some fond memories of their historic on-track endeavors. If you missed Bimmerfest 2016 then you can check out our massive photo gallery above, and for those of you on the East Coast there will be a Bimmerfest East at Raceway Park in Englishtown, NJ, from July 30-31. Visit www.bimmerfest.com for more details. Related Video: Featured Gallery Bimmerfest 2016 View 80 Photos Image Credit: Copyright 2016 Drew Phillips / AOL Design/Style BMW Classics

BWM 135i with M3 V8 engine swap combines two things we miss the most

If you've ever listened to the Autoblog Podcast, you've doubtlessly heard my views on the BMW 1 Series M Coupe. I don't much care for it. That's not to say it's bad, so much as it just isn't what an M car should be. Steven Ewing, Seyth Miersma and a number of other Autoblog staffers think I'm crazy (It's true, he is crazy –Ed.), but whatever. My position on the 1M would be dramatically different, however, had it been fitted from the factory with the truly fantastic 4.0-liter V8 from the E92 M3 (the last great M car, in this writer's humble opinion). Matt Farah of Drive took to the wheel of a 135i that's been completely reworked by Performance Technic and is owned by Marco Svizzero. The car required a salvageable E92 and what we imagine is an incalculable amount of wrench time, with the result being, as Farah says, "possibly the best BMW you could build at any price." Oh, and it sounds absolutely delicious. Check out the car in action.