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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.

Rolls-Royce developing new convertible

Rolls-Royce is not a company that makes a lot of different vehicles, but of the ones it does, it tends to offer several versions. That's how we end up with sedan, long-wheelbase, coupe and (in the former's case) convertible versions of the Phantom and Ghost. And now Goodwood has confirmed development of another model.
Although details in the press release below are few and far between, it does promise to "deliver effortless, open-top touring... with an engaging and exhilarating driving experience." CEO Torsten Müller-Ötvös added: "We are currently developing an exciting and thoroughly contemporary interpretation of a pinnacle drophead tourer which will introduce even more discerning men and women to Rolls-Royce ownership."
What that tells us is that the new model - set to reach showrooms "by mid-2016" - will be a convertible that's exciting to drive and more youthful than the Phantom Drophead Coupe. In other words, and in all likelihood, we're looking at the convertible version of the Ghost-based Wraith fastback (like the one we recently spotted undergoing testing, pictured above). Expect it, then, to carry the same 6.6-liter twin-turbo V12, but with the added rush of wind in your hair.

Ultra-luxury automakers like Bentley and Rolls-Royce need to hurry up with EVs

In the five years that I've worked at Autoblog, I've read a lot of press releases. They're all pretty flowery and self-serving, but the ones that go the extra distance with lavish words and pompous phrasing tend to come from the most luxurious brands, Bentley and Rolls-Royce. And something that they both love talking about is sustainably sourced materials for their vehicles. The descriptions read like they've seen the light about using resources responsibly. That would be great, except for one thing: There's nothing sustainable about multi-ton land yachts with eight or more cylinders. Only one of Bentley's models can be had with fuel economy better than 20 mpg combined when running on gasoline, and guess what, it's not one of the brand's two plug-in hybrids (which are to be commended, but still seem half-hearted when we're talking serious sustainability). And Rolls-Royce is even worse without a single model even hitting 15 mpg combined. These automakers should have at least one EV model apiece. Apparently, there are some coming, but they're still years away, and that frankly shocks and frustrates me for a number of reasons. One of the big ones is that these brands couldn't be better suited to electric propulsion. What makes these cars impressive is their refinement and performance. You can't get much better in either of those categories than with beefy electric motors, which provide nearly silent operation with no gear changes and enormous power and torque ratings. And it's all achievable with a lot less effort than making an 8- or 12-cylinder internal combustion engine quiet and smooth. Sure, battery technology is complicated, and it's expensive and heavy, but all of that is covered by these brand's typical products. They can command prices that would easily absorb the cost of batteries. And the size and weight of current cars mean that loading them up with batteries to achieve range comparable to their gas models wouldn't be a problem, either. Heck, that's the exact strategy being used by GM and Ford to get huge range in their electric trucks. 2020 Porsche Taycan Turbo S View 41 Photos And the cost of the EV technology shouldn't even be that great for Bentley or Rolls-Royce, since they're both owned by companies that are leaders in electric car development with existing technology and the ability to spread costs out over various brands.