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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.

BMW 7 Series to get quad-turbo diesel?

Sometime in 2016 BMW will ask its customers, "Would you like more turbos with your turbos?" Reports are the Bavarian company is working on an inline six-cylinder quad-turbocharged 3.0-liter diesel engine to replace the tri-turbo 3.0-liter diesel currently used in performance products like the all-wheel-drive X5 M50d and X6 M50d sold in other markets. The current N57 performance diesel is called the M Performance TwinPower Turbo. The new one, said to be codenamed B57 TOP, will first make its way into the new 7 Series that will be called the M750d. The coming quad-turbo diesel is expected to produce at least 400 hp and 590 lb-ft. It isn't known yet whether the additional turbo will be electric or conventional, nor how the new turbos will be sized relative to one another. At least one outlet figures the power numbers will be conservative for this first outing, so they could go up. After its launch in the 7 Series, it could migrate to create the next-generation G30 5 Series M550d, and the X5 M50d, X6 M50d, and X7 M50d. It's unclear if BMW has plans to bring this high performance engine to the US market. Related Video: The video meant to be presented here is no longer available. Sorry for the inconvenience. News Source: BMW Blog, AutocarImage Credit: Copyright 2015 AOL BMW Crossover Diesel Vehicles Luxury Performance Sedan engine bmw diesel

Weekly Recap: The divergent paths of Tesla and Fisker

There's no doubt that Tesla is downshifting while Fisker has been grinding its gears. But it wasn't always that way.
In the wake of Tesla's recent success, it's easy to forget that there were once two California electric carmakers with bright futures.