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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.

2016 Mini Convertible puts the tanning salon on wheels

Here's a basic tenet of the Mini product schedule – a new generation Mini Hardtop debuts and then, within a year or two, it's followed by a convertible variant. Considering this, the debut of the third-generation Convertible – less than two years after the third-gen hardtop – is right on schedule. Slated to arrive in dealers right in time for the start of the 2016 convertible season, the latest Mini Convertible doesn't really shock. It takes the same basic look below the beltline, and pairs it to a power-folding softtop that does a much better job of maintaining the Hardtop's iconic silhouette. That said, the size of that "C-pillar," for lack of a better phrase, is immense. We doubt this new model will do anything to improve on the last Convertible's awful blind spots. Mechanically, the soft top can be raised or lowered in just 18 seconds and at speeds of up to 18 miles per hour. Like the two generations of Convertible that came before it, this latest droptop uses the same engine lineup as the three-door model. For the standard Cooper, BMW/Mini's 1.5-liter, turbocharged triple is still offering up 134 horsepower, 162 pound-feet of torque, and a 0-60 time of 8.2 seconds with the automatic and 8.3 seconds with the manual. For the Cooper S, the 2.0-liter, turbocharged four-cylinder dishes out 189 hp and 207 lb-ft of torque, along with 0-60 times of between 6.7 and 6.8 seconds, depending on the transmission. Those gearboxes have also been plucked from the Hardtop models, with standard six-speed manuals and optional six-speed automatics, regardless of engine. Yep, that's right, the excellent eight-speed auto from the Mini Cooper S Clubman isn't being offered on the Cooper S Convertible. We've got a huge array of photos of the new Mini Convertible, which puts a particular emphasis on the handsome, droptop-specific Caribbean Aqua of the base Cooper. Check out the photos, and then scroll below for the official press release from Mini. Related Video: OPEN DRIVING EXCITEMENT: INTRODUCING THE NEW MINI CONVERTIBLE Open Driving Excitement: Introducing the New MINI Convertible Newest member of MINI lineup goes on sale in U.S. in March 2016 First open top MINI powered by BMW Group engine technology and architecture Woodcliff Lake, NJ – October 22, 2015 – MINI USA introduced today the newest addition to its iconic product line, the new MINI Convertible.

Paul McCartney's Aston sells for $1.8M; Ringo Starr's old Mini goes to a Spice Girl

The Bonhams Bond Street auction in London was the place to be for fans of both The Beatles and automobiles as two cars once owned by former members of the band were up for auction. The first was an Aston Martin DB5 owned by Paul McCartney, and the second was a Mini Cooper owned by Ringo Starr. Both went for substantial sums, and the Mini went to an interesting owner. The Aston brought the big bucks, or pounds, since it was a British auction. The final price with premium was barely over $1.8 million, which fell smack in the middle of Bonham's estimate. It's an impressive price on its own, but more so when compared with its sale back in 2012. Back then it was painted in the same blue it had originally, and it only sold for $495,000, making this new sale more than three times higher. View 22 Photos The Mini went for much less, at just under $137,000 with premium. But the car went to an interesting owner, Geri Horner, nee Hollowell, whom you may know better as Ginger Spice of the Spice Girls. The Mini itself is interesting, too. Each of The Beatles owned a classic Mini at some point, but Ringo Starr's was unique because the flip-down tailgate was converted to a modern-style lift-up hatch incorporating the rear window. Reportedly the reason was so Starr could easily fit his drum kit in the back. It also featured a custom grille, driving lights, hood vents, and soft sunroof among other things. It even appeared on " Top Gear" in 2001. And before we forget, McCartney's DB5 also has " Top Gear" history in that it was owned by former host, Chris Evans. Related Video: Featured Gallery 1964 Aston Martin DB5 owned by Paul McCartney View 13 Photos Image Credit: Bonhams Celebrities Aston Martin MINI Auctions Coupe Hatchback Classics aston martin db5 the beatles