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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.

2014 BMW 328i xDrive Gran Turismo

"The Ultimate Driving Machine" has been BMW's tagline for nearly 40 years. Launched in the 1970s, the marketing campaign was a stroke of genius by ad firm Ammirati & Puris, as the phrase helped differentiate the imported Bavarian cars from their fellow European rivals by subtly pointing out that Mercedes-Benz and Audi were offering luxury models, while BMW was selling sporty and youthful driving dynamics. The campaign worked - some would argue that stands among the most effective ad campaigns ever - and countless Baby Boomers embraced the brand's fun-to-drive image by taking delivery of the company's new models.
BMW still boasts that its vehicles are "The Ultimate Driving Machine" four decades later, but the brand is very different today. It offered just a few model lines in the mid-1970s, and only a handful of vehicles within. In 2014, the automaker offers an exhaustive range comprised of nearly a dozen lines with almost 50 different models. To survive and thrive, BMW has decided it must massively broaden its appeal.
One of the latest arrivals to BMW's ever-growing stable is the 2014 3 Series Gran Turismo. The five-door hatchback is best thought of as a smaller version of the company's 5 Series Gran Turismo built on stretched 3 Series platform that, in the case of this test car, shares the running gear of the 328i xDrive sedan. On paper, the five-passenger vehicle checks all the proper boxes with regards to performance, utility and economy. But does this family-focused 3 Series still deliver driving dynamics that qualify it for the title of Ultimate Driving Machine?

E.U. executive conditionally approves Daimler, BMW car-sharing deal

BRUSSELS — The European Union's competition authority said on Wednesday it had approved the plan of German luxury carmakers Daimler and BMW to combine their car-sharing businesses, subject to conditions. Under the deal, which includes car-sharing units Car2Go and DriveNow as well as ride-hailing, parking and charging services, Daimler and BMW will each hold 50 percent stakes in a joint venture. They have offered concessions to address E.U. antitrust concerns over the deal they hope would let them better compete with U.S. rival Uber and China's Didi Chuxing. The European Commission has found the deal would raise competition concerns for free-floating car sharing services in Berlin, Cologne, Duesseldorf, Hamburg, Munich and Vienna. It said Daimler and BMW agreed to a remedy package in the six cities. "The commitments thus fully address the Commission's concerns as they will reduce the barriers to entry for competing free-floating car sharing providers," the Commission said in a statement. "Therefore the Commission concluded that the proposed transaction, as modified by the commitments, would no longer raise competition concerns. The Commission's decision is conditional upon full compliance with the commitments." Reporting by Gabriela Baczynska and Philip Blenkinsop. Related Video: