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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 names new chief executive for North America

Rolls-Royce has announced a changing of the guard in its North American office. Stepping out of his role as North American regional president is Eric Shepherd (pictured). In his place, the uber-luxe British automaker is bringing in Pedro Mota, who comes by way of Porsche Cars North America, where he served as the west coast regional vice president. Mota holds an MBA from European business school INSEAD, and a Master's in electrical engineering from Lisbon Technical University. He'll join Rolls-Royce with almost immediate effect on October 1 to learn the ropes before taking over on January 1, 2016 - the day after Shepherd vacates the office. The company was rather unspecific in disclosing what Shepherd will be doing next, saying only that he'll be staying "within the Rolls-Royce family" in a "new entrepreneurial role in the super-luxury automotive retail sector." The shift in leadership in the North American office at Rolls-Royce comes as the automaker prepares to role out new models. It's now in the process of adding the new Dawn convertible to the Ghost/Wraith family. It's also preparing to launch its first SUV, known internally as project Cullinan, into a burgeoning new market segment for ultra-luxurious crossovers. It's an area with which Mota, having helped move so many Cayennes and helped introduce the new Macan through West Coast dealers, ought to be intimately familiar. Related Video: LEADERSHIP TRANSITION AT ROLLS-ROYCE MOTOR CARS NORTH AMERICA Rolls-Royce Motor Cars has announced that President (North America), Eric Shepherd, has decided to move to a new entrepreneurial role in the super-luxury automotive retail sector within the Rolls-Royce family. Chief Executive, Torsten Mueller-Oetvoes, said, "Eric's move is a big loss to our successful business at Rolls-Royce North America but we are highly supportive of talented managers like Eric pursuing personal business opportunities, particularly when it means they stay within the Rolls-Royce community. Eric's dynamic leadership of our North American operation has been highly effective. He has established a strong team and cohesive network which has led to a substantial strengthening of our business in the region." Shepherd will continue in office as President of Rolls-Royce NA until 31 December 2015. He will be succeeded by Pedro Mota who will join Rolls-Royce NA from Porsche Cars NA where he served as Vice President, Area West.

Rolls-Royce Wraith and Dawn: going, going, soon to be gone

Fans of fabulously expensive two-door coupes and convertibles will be saddened to learn that the Rolls-Royce Wraith coupe and Dawn convertible will be departing the U.S. market at the end of the 2021 model year. The dispiriting news was first reported by Motor1 and has been confirmed by a Rolls-Royce spokesperson. Time passes more slowly in the ultra-luxury segment, where vehicle life cycles can stretch far beyond the norm. But even given that reality, the debonair duo are getting on in years. The Wraith was introduced for 2013, and the Dawn made its debut in 2015. Both models are based on the even-older F01-generation BMW 7 Series platform that also underpinned the previous-generation Ghost. The models will continue to be sold in other markets and will not be immediately replaced in the U.S. That leaves the brand with a three-model lineup here in the U.S. with the Ghost and Phantom sedans and the Cullinan SUV. Granted, as of late U.S. car buyers have been shunning coupes and convertibles in droves, but the Rolls-Royce lineup loses a measure of glamour without the extravagance of the less-practical but more statement-making two-doors. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.