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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.

500-hp Acura V6 turns this classic 1974 Mini into a mid-engined sleeper

Originally designed on a napkin, the world-famous Mini launched by the British Motor Corporation (BMC) in 1959 was envisioned as a cheap, practical city car for families on a budget. Now, 61 years later, it's a sought-after classic that many aftermarket companies hail as the ideal foundation on which to build their wildest dreams. Gildred Racing thought further out of the box than most by turning a Mini into a mid-engined, 500-horsepower sleeper. Starting with a 1974 model, the California-based firm removed the original four-cylinder engine (and the four-speed manual transmission bolted right under it, where you'd normally expect to find the oil sump) and completely stripped the interior. Only the front seats ended up going back in; the space occupied by the tiny rear bench is now home to a 3.2-liter V6 that started life under the hood of an Acura CL Type S from the early 2000s. It's mounted transversely, and it spins the rear wheels via a six-speed manual transmission. Acura quoted the six's output at 260 horsepower, which would be a healthy upgrade for the little Brit, but Gildred tuned it to 500 horses and 383 pound-feet of torque by making a long list of modifications (including, significantly, adding a supercharger). That's a 466-horse increase compared to a stock 1974 Mini 850, so the scope of chassis upgrades is long. It includes bigger brakes made by Wilwood, and a fully redesigned suspension. And, although packaging a V6 in a small, front-wheel drive car like the Mini was as challenging as it sounds, Gildred pulled it off admirably. The engine bay is now home to the fuel tank and the radiator, while opening the trunk reveals a huge exhaust. The trade-off, of course, is that there's no longer a trunk, but it's a sacrifice we'd happily make. Performance specifications haven't been released yet. Gildred simply said its 1,400-pound Super Cooper is "quite impressive," which we believe. The original wasn't; it took 34 seconds to reach 62 mph from a stop. Gildred also made several changes in the name of modernity. It added a 9.7-inch iPad where you'd expect to find a touchscreen for the infotainment system in a modern car, an Alpine sound system, a push-button ignition, power locks and windows, LED headlights, plus automatic A/C. We imagine the whole cabin gets hot when the V6 works up a sweat. The passengers sit on leather- and suede-upholstered Recaro bucket seats that are heated and cooled.

Junkyard Gem: 2011 MINI Cooper Clubman

The original BMC Mini changed the automotive world forever in 1959, staying in production in essentially the same form all the way through 2000. Its innovative transverse-mounted engine and front-wheel-drive transaxle became the layout for most cars built in the world today, and its cheap price tag put millions of new drivers on wheels for the first time. Like the Volkswagen Beetle and Fiat 500, it was inevitable that the shape of such an iconic machine would be applied to a modern platform for the retro-ization craze of the late 1990s and early 2000s, and that's just what happened when BMW ended up owning the Rover Group. The BMW-built MINI Hardtop first appeared on our shores for the 2002 model year, and used-up examples of these cars are now extremely plentiful in self-service wrecking yards across the continent. The Cooper Clubman, which debuted here for the 2008 model year, has been a rare sight during my junkyard travels, and so I documented this one in Denver a few weeks ago. The Clubman wasn't quite as nimble and easy to park as the regular Cooper, but its increased cargo capacity and split rear doors made it a lot more useful for trips to the big-box store. It also offered more space for rear-seat passengers, and the right-side suicide rear door made it much easier to get into the back seat (on that side). The new MINI started out much larger than the clown-car-tiny old Mini, anyway. The added usefulness and more recent release of the Clubman have made it an uncommon sight in American car graveyards. This one was uncrashed and still had the original manuals inside, which suggests that some owners of first-generation (2008-2014) Clubmen are no longer willing to pay for major mechanical repairs when needed. We'll see how this sorts out during the next few years. As the owner of a 2000s wagon with a manual transmission, I applaud the original purchaser of this wagon for the choice of three-pedal setup. The interior looks to have been fairly tidy before junkyard shoppers tore it apart. The Colorado toll-road transponder suggests that this machine was a well-cared-for commuter for its decade on the road, but proved to be not worth repairing when some major component failed. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The future will look exactly like the MINI CLUBMANIA human-scale pinball machine. This content is hosted by a third party.