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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.

Mini boss contradicts reports on production Superleggera, says Minor unlikely

Mini has added to our green-beer-induced hangover with some disappointing news. The Mini Superleggera Vision Concept is not quite as confirmed as we had been led to believe. And making matters worse, the same high-ranking source that put the kibosh on confirmation of the stylish two-seater said he "doesn't see" a mini Mini. Mini boss Peter Schwarzenbauer contradicted yesterday's report in an interview with Automotive News, although he certainly doesn't oppose the idea of the Superleggera Vision. "I cannot confirm that it has been approved yet," Schwarzenbauer told AN, adding that it'd be a "great addition to the Mini range" and that he's "still pushing" for it to arrive in dealerships. That's good news for fans of yesterday's report. Schwarzenbauer is less of a fan of a small, entry-level mini Mini, based on the Rocketman Concept. "I don't see a smaller car than the current one," the exec said. It's long been rumored that Mini was readying a smaller, budget model that was more in line with the original Austin and Morris Minis, rather than the premium sub-compact model that BMW has been selling for the past 13 years. The company has even, allegedly, been in cahoots with Toyota to develop the new compact model. We reported as recently as January that the Anglo-Teutonic outfit and its Japanese partners would develop an entirely new platform for the Minor, although that certainly doesn't seem to be the case now. How do you feel about this? Does Mini need to get back to its roots with the affordable, Rocketman-based Minor, or should it keep on doing what it's doing? What about the Superleggera Vision Concept? Should Mini add it as a successor to the short-lived Roadster? Have your say in Comments. Related Video:

Electric Mini tows a Boeing 777 airplane, because why not?

Car manufacturers seem to love hitching up to massive planes. Even Mini is getting onboard with the trend, and it's using a camouflaged version of the electric Mini on its way. Now, we saw the Mini Cooper S E completely uncovered a few days ago in spy photos, so make sure to check those out to see what the car will really look like. If it's the plane pulling you're after, watch the video above. Mini collaborated with Lufthansa on this one. The airliner provided a Boeing 777F freight aircraft for the stunt. That airplane has an unladen weight of approximately 150 tons, or just about 300,000 pounds. Needless to say, it's safely over whatever towing rating Mini is going to give its electric car. This Mini doesn't pull the airplane far, but it's enough to prove the brand's point: Electric equals lots of torque. Like we mentioned before, others have pulled off a similar stunt. A few notable examples include the Toyota Tundra towing the space shuttle for 12 miles, Porsche hauling an Airbus 380 with various Cayennes and then a Tesla Model X pulling a Boeing 787-9 Dreamliner. The Model X is most like Mini's stunt, since it's also an electric vehicle. We'll note that the airplane towed by the Mini is also far lighter than that towed by the Tesla. Still, to have enough torque and traction to move a 300,000-pound airplane is impressive, and if nothing else, it's entertaining to watch. Reports have indicated that the new electric Mini will share the BMW i3's powertrain and battery pack, so that means it may have required only 168 horsepower and 184 pound-feet of torque to pull this off.