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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.

Toyota launches BMW-powered Verso in Europe

BMW makes some sweet-revving engines, but its own vehicles aren't the only ones running BMW engines. So do the latest from Rolls-Royce and Mini, of course, as well as a handful of Peugeots and Citroëns thanks to its joint engine program with PSA. Wiesmann uses BMW engines, as did the famous McLaren F1. And now we can add one more to the list.
That would be the Toyota Verso, a Corolla-based minivan which Toyota builds in Turkey and sells in Europe and a few other markets overseas. The Verso is also now officially the first beneficiary of the partnership between Toyota and BMW as the Japanese automaker has released the MPV with BMW's 1.6-liter turbodiesel four.
The 111-horsepower engine is coupled to a Toyota transmission and joins the Verso range as the fourth (and least powerful) engine in the lineup, alongside the 122hp 2.0 diesel and the gasoline options with 1.6 liters and 160 hp and 1.8 for 180. Future collaborations between the two automakers will include fuel-cell development, a new joint sportscar platform, lightweight bodywork research and a new generation of lithium-air batteries. See the press release below for further details.

BMW bringing two new concepts to Pebble Beach

BMW has announced that it will reveal not one, but two new concept cars during Monterey Car Week next month. The Bavarian automaker released this teaser image in conjunction with the announcement, showing what looks like a rather racy steering wheel to suggest that at least one of those concepts will be focused on performance. The signature red and blue stitching on the wheel and the participation of the M division's R&D chief in the press conference also hint at its nature. We're intrigued, though, by some of the buttons on the wheel with labels like "Flash," "Cool," and "PSL." The Roundel marque has been known to create concept cars to showcase at classic car concours, but they're more often presented at the Concorso d'Eleganza Villa d'Este that BMW has supported for over a decade on the shores of Italy's picturesque Lake Como. That's where BMW revealed in recent years the 3.0 CSL Hommage, the Pininfarina Gran Lusso, and the Zagato Coupe concepts (to name just a few). It did, however, follow up on the latter with Zagato Roadster concept at Pebble Beach that same year. We might project that at least one of the concepts would represent another brand affiliated with BMW – like Mini, Rolls-Royce, or BMW Motorrad. However the announcement below seems to indicate fairly clearly that they'll both be "concept cars" (not bikes), and that they'll be presenting the BMW brand itself (not another from the group). The show cars are also likely to veer more toward the design-study end of the spectrum than previewing any specific upcoming production models, and we wouldn't be surprised if the two arrived as a matching pair of sorts. BMW's California-based Designworks studio is also likely to have played a key role in at least one of the projects. But to find out more, we'll have to wait for the press conference on August 13 in the BMW Villa at Pebble Beach. The concepts will subsequently make the rounds of key Monterey events, including The Quail, the Legends of the Autobahn Concours d'Elegance, the Rolex Monterey Motorsport Reunion, and of course the headline Pebble Beach Concours d'Elegance. BMW to Unveil Two World Premier Concept Cars During Monterey Car Week. Media Preview at The BMW Annual Press Conference on Thursday Evening. Woodcliff Lake, N.J. – July 17, 2015... BMW is pleased to invite credentialed media to the 'BMW at the 2015 Monterey Car Week' preview press conference on August 13th at 6:00pm.