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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

Mini Clubman to get the 'Works,' four-door Hardtop not so much

Performance sub-brands are expanding faster than leftover marshmallow Peeps in a microwave. And Mini's John Cooper Works line is not likely to be an exception. Mini's stand at the New York Auto Show was somewhat low-key, with the debut of the Clubman All4 all-wheel-drive variant on one end and the expected John Cooper Works Convertible on the other. And for the foreseeable future, the Mini lineup will change through redesigns of existing models and the introduction of more derivatives – like a John Cooper Works version of the new Clubman. At least that's what some of Mini's product guys indicated. "The Works is always our top model. John Cooper Works is not just limited to small cars, it's also for compact cars," said Ralph Mahler, Mini's head product manager, in an interview with Autoblog at the New York Auto Show. "Therefore, I wouldn't see anything against bringing the Works to the Clubman. I think it would be a perfect match." Though one was offered in the last generation, a Works model may seem at odds with the new Clubman's mission, as the company has spent considerable effort pitching it as the grown-up Mini, something to rival premium-branded compacts. Yet Mahler sees a possible Works Clubman as the ultimate in the lineup and an exclusive model, especially since he said take rate for the rest of the Works Minis is around 5 percent. Patrick McKenna, Head of Product Planning at Mini USA, said that since the Clubman went on sale early this year, ordering has included mostly highly optioned models, and customers are notably cross-shopping the Audi A3. Loaded up, a Clubman Cooper S All4 pushes past the $45,000 mark. Currently, the most powerful Cooper S produces 189 horsepower from its 2.0-liter turbo four. That's more power than a front-drive A3 1.8T, but less than the A3 2.0T Quattro – and way less than a cheaper Volkswagen Golf GTI. Consider that the engine in the just-released John Cooper Works Convertible produces 30 more horses than the one in the Cooper S and a Works Clubman starts to make more sense. Strangely, the four-door Mini Hardtop, released last year, doesn't appear to be destined for the Works treatment. McKenna said the four-door will continue to offer special appearance packages that offer Works-like touches and offer dealer-installed accessories such as exhausts and horsepower increases.

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.