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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

BMW expands Takata airbag recall nationwide, 140k 3 Series affected

Following the urging of the National Highway Traffic Safety Administration, BMW has expanded its recall of vehicles equipped with Takata airbag inflators to cover the entirety of the United States, rather than just high-humidity areas. That means there are about 140,000 owners of 2004 to 2006 model year BMW 3 Series coupes, convertibles, sedans and wagons (that means owners of both E46 and E90 3ers should take note). It's unclear if this recall includes the high-performance M3 Coupe and Convertible. With the expansion of its airbag recall, BMW joins Honda, Mazda, Ford and Fiat Chrysler in moving from a regional to a nationwide recall of vehicles equipped with Takata airbags. According to Reuters, BMW claims none of its vehicles have been subject to the potentially harmful airbag deployments.

BMW's EV tech is being used to resurrect the Karma

Saying that luxury electric-vehicle manufacturer Fisker was beleaguered before its demise a few years back would be a gross understatement. But despite the cars self-immolating and Tesla CEO Elon Musk criticizing everything but the Karma's design, a Chinese auto parts manufacturer is resurrecting the brand under a different name: "Revero." That's according to a report from Wall Street Journal. Wanxiang Group is moving production to EV-hotbed California from Finland and will unveil its new ride either in July or August, but pricing hasn't been announced yet. The previous Karma sold for $100,000. Perhaps most interesting, though, is how it's going to address the reliability issues that plagued the company's predecessor. WSJ says that the automaker is licensing BMW's electric vehicle control and charging systems – a deal finalized last year. "There are huge, serious, major upgrades throughout the electronics systems, wiring, charging, battery," Karma's chief marketing officer Jim Taylor says. In terms of looks, though, it doesn't sound like you should expect anything to change in that department because the overhauls aren't going to be visible, according to Taylor. Wanxiang picked up Fisker's remains for $149 million a few years back. This deal is important, especially for BMW: If the German automaker's licensed tech can help Fisker outrun its smoky, checkered past, that's a high-profile win for everyone involved. Related Video: This article by Timothy J. Seppala originally ran on Engadget, the definitive guide to this connected life. News Source: Wall Street Journal Green BMW Fisker Electric Future Vehicles Special and Limited Editions Performance Sedan transportation gear karma revero