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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

The UK votes for Brexit and it will impact automakers

It's the first morning after the United Kingdom voted for what's become known as Brexit – that is, to leave the European Union and its tariff-free internal market. Now begins a two-year process in which the UK will have to negotiate with the rest of the EU trading bloc, which is its largest export market, about many things. One of them may be tariffs, and that could severely impact any automaker that builds cars in the UK. This doesn't just mean companies that you think of as British, like Mini and Jaguar. Both of those automakers are owned by foreign companies, incidentally. Mini and Rolls-Royce are owned by BMW, Jaguar and Land Rover by Tata Motors of India, and Bentley by the VW Group. Many other automakers produce cars in the UK for sale within that country and also export to the EU. Tariffs could damage the profits of each of these companies, and perhaps cause them to shift manufacturing out of the UK, significantly damaging the country's resurgent manufacturing industry. Autonews Europe dug up some interesting numbers on that last point. Nissan, the country's second-largest auto producer, builds 475k or so cars in the UK but the vast majority are sent abroad. Toyota built 190k cars last year in Britain, of which 75 percent went to the EU and just 10 percent were sold in the country. Investors are skittish at the news. The value of the pound sterling has plummeted by 8 percent as of this writing, at one point yesterday reaching levels not seen since 1985. Shares at Tata Motors, which counts Jaguar and Land Rover as bright jewels in its portfolio, were off by nearly 12 percent according to Autonews Europe. So what happens next? No one's terribly sure, although the feeling seems to be that the jilted EU will impost tariffs of up to 10 percent on UK exports. It's likely that the UK will reciprocate, and thus it'll be more expensive to buy a European-made car in the UK. Both situations will likely negatively affect the country, as both production of new cars and sales to UK consumers will both fall. Evercore Automotive Research figures the combined damage will be roughly $9b in lost profits to automakers, and an as-of-yet unquantified impact on auto production jobs. Perhaps the EU's leaders in Brussels will be in a better mood in two years, and the process won't devolve into a trade war. In the immediate wake of the Brexit vote, though, the mood is grim, the EU leadership is angry, and investors are spooked.

Mini Cooper SE Convertible wheels made entirely from recycled aluminum

Mini has revealed an interesting fact about its limited-run Mini Cooper SE Convertible: It's the first production car with wheels made from 100% recycled aluminum. Despite sharing the same look as wheels available on the regular SE hatch, they're actually much more environmentally friendly. The wheels were developed with Swiss wheel manufacturer Ronal. The company sells aftermarket wheels under the Ronal and Speedline brands, and it supplies OEMs. And it's no stranger to more environmentally-friendly wheel production. It supplies wheels for the Audi E-Tron GT that are made using a smelting process that produces oxygen rather than carbon dioxide, and it now has a line of claimed carbon-neutral aftermarket wheels. But back to the Mini's wheels. Using all recycled aluminum has the obvious benefit of not requiring new aluminum to be manufactured. But the benefits are greater than just the raw material use. Mini points out that a major improvement in carbon emissions comes from being able to skip the electrolysis process for new aluminum manufacturing. Pure aluminum is extracted from aluminum oxide (which is in turn taken from the mineral bauxite). To do this large amounts of electricity are passed through molten solutions of aluminum oxide and cryolite (which takes energy to heat) across graphite cathodes and annodes. Not only does this use a lot of electricity that has its own carbon costs, the oxygen that separates from the aluminum bonds to the graphite annodes, yielding more carbon dioxide (which is why the production of those Audi wheels is also interesting). In total, Mini says the recycled wheel production reduces carbon emissions by 75%. More specifically, it estimates about 0.16 kilograms (0.35 pounds) per kilogram (2.2 pounds) of aluminum used. Mini also stresses that this process still maintains all the strength of conventional wheels, just in a greener way. And of course, the wheels themselves are recyclable again. Mini, and BMW more broadly, are looking at ways to upscale the process and to source suitable recyclable products, likely other old wheels from cars no longer on the road. Though neither company said anything about when we'll see fully recycled wheels more widely available. Related Video: MINI Electric Pacesetter inside and out