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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.

Mini has become the Rover that BMW always wanted

BMW has been working for 20 years to build a successful line of British cars, and on the evidence of the second-generation Mini Clubman, it may have finally done it. That means it's time for all of us to get used to the fact that Minis aren't going to be that small anymore. Case in point is this new Mini Clubman, introduced last month and conspicuous by its size. Many of us who've pointed to BMW's stewardship of Mini as an example of retro done right bemoaned the Countryman subcompact SUV – a concept actually ahead of its time. The Coupe and Roadster, perhaps rightfully, deserved (and received) an eye roll. But now there's a so-called four-door hardtop that went on sale this year and this forthcoming, six-door Clubman that approaches the compact hatchback class in size. These vehicles actually look like practical moves at keeping buyers from defecting to larger cars made by someone else, rather than vain attempts at maximizing investment in a set of parts. And in an interesting twist, Mini is turning into one of its ancestors – minus the feeling of inevitable doom. Many of us were led to believe somewhere since Mini's relaunch about 15 years ago that the brand would be a stepping stone into the greater BMW fold. But in reality, it's done exactly the opposite, creating a parallel brand for those not willing to embrace the BMW image, but leaning heavily on British nostalgia. That was sort of the reasoning used when BMW pulled the Rover Group of England away from a fruitful partnership with Honda in 1994 and absorbed it all. In the consolidate-or-die '90s, it made sense. BMW had a small, but successful, line of sedans. Rover had no success outside of Western Europe (its last US attempt at selling cars, the Sterling, ended three years earlier). Yet its Land Rover line of SUVs was just right for the time and the 35-year-old Mini still had image-conscious clout. With every passing day, the brilliance of BMW's move to abandon Rover in 2000 seems brighter. Even ditching Land Rover made sense in the long run (and probably saved Jaguar in the process). With every passing day, the brilliance of BMW's move to abandon Rover in 2000 seems brighter. During a chat with Mini USA VP David Duncan this summer, it became clear the Mini of the past is probably gone. A small, city-sized Mini is not necessarily off the table, but larger and more profitable models are coming first.

Third-generation Mini Countryman previewed with psychedelic camouflage

Mini has released additional details about the third-generation Countryman due out later in 2023. While the range will include gasoline-, hybrid-, and battery-powered models, the BMW-owned company focused on the electric version and published a basic set of specifications. We've seen pre-production prototypes of the next Countryman before; Mini previewed the model in March 2023. The latest batch of official spy shots gives us a better look at the updated design. Up front, the electric variant of the Countryman stands out from the gasoline-burning model with a big, grille-like piece of trim. We're guessing that it wears several powertrain-specific trim pieces and emblems as well, though these are hidden under camouflage that wouldn't look entirely out of place on a Gaudi-designed building in a picturesque part of Spain. Mini revealed that the new Countryman will stretch about 174.3 inches from bumper to bumper and stand 63.5 inches tall. In comparison, the outgoing model measures 169.8 inches long and 61.3 inches tall. These figures should give the crossover a more spacious interior, and they'll make it the biggest series-produced car that Mini has ever released (the original Mini from 1959 measured merely 120 inches long). Interior photos haven't been published yet, but Mini notes some of the upholstery and trim pieces are made with recycled materials. On the electric side of the range, the Countryman will be available with two powertrains. First, a 191-horsepower single-motor setup that spins the front wheels; this version will be called Countryman E. Second, a dual-motor, all-wheel-drive system rated at 313 horsepower and fitted to the Countryman SE ALL4. Electricity will be stored in a 64.7-kilowatt-hour lithium-ion battery pack, and Mini estimates the model's range will check in at about 280 miles when tested on the WLTP cycle used in Europe. The EPA-estimated figure will be lower, however. More details about the third-generation Mini Countryman will be released in the coming months. It won't remain the brand's only crossover for long: making it bigger clears up space for a second, smaller model tentatively called Aceman and previewed by a concept in July 2022. At the other end of the spectrum, the next-generation Cooper will make its debut in 2024 with significant design changes inside and out. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.