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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 April Fools' Day: Morgan digs at Tesla, Mini's scissor doors, more

Every year automakers go out of their way to come up with gags for April Fools' Day. Sometimes the jokes fall flat, but occasionally a company really nails it with an idea that we'd actually love to see. Rather than scouring the Web for all of these stunts, you can find some of our favorites right here. Morgan MOGrod The Morgan Motor Company's MOGrod is one of our favorite April Fools' jokes so far this year because it's a car we wish could be real. The company says on Twitter that the retro hot rod uses a 3.7-liter Ford V6, and there are already 250,000 preorders, which is a play on the huge number of reservations for the Tesla Model 3. Morgan took the joke even further by sketching a landspeed record version for the Bonneville Salt Flats. Mini Scissor Doors The people at Mini apparently have a lot of free time because the company has two gags this year. The first is the scissor door option. The idea cleverly plays on the myriad ways customers can customize their Mini, but this solution doesn't look like anyone could easily enter the car due to the way these doors open. Mini Hipster Hatch There's also the Hipster Mini, which is a much funnier idea. This fictional hatchback would be perfect for fashionable Millennials thanks to features like Instagram-filter windows and a fixed-gear drivetrain, which limits the top speed to 25 miles per hour. The interior uses stonewash denim upholstery and packs a twin-deck cassette player. Skoda Dog Umbrella People love dogs, and owners know that a wet canine can be a mess. Skoda is ready to tackle this problem with an umbrella for your mutt. Made from unobtainium, the gadget hides in the door when not in use, but when raindrops start falling, people can keep their pup dry. Skoda Snowman Skoda's Facebook page also teases us with a very cool vehicle. The Snowman is a 396-horsepower plug-in hybrid snow machine. With its tracks, the company's newest model would never have to worry about getting stuck in the winter. Opel Adam C Sure, electricity and hydrogen are cleaner forms of fuel than gasoline or diesel, but Opel has a way to make your car even more environmentally friendly – muscle power. Wind up the crank at the rear for 15 minutes, and the Opel Adam C is good for 125 miles. GM's European division also claims that owners get a great workout because a full winding session burns 400 calories. You wouldn't feel guilty about picking up that pizza after cranking up this hatchback.

Mini prepping new John Cooper Works convertible

Those enamored by a Mini's spritely handling and retro styling but looking for that extra performance edge have had a succession of John Cooper Works models to choose from, straight through to the latest version unveiled this week in Detroit. And now, Mini appears to be preparing a JCW version of the new convertible. Spied undergoing cold-weather testing in Scandinavia, this Mini prototype appears to be wearing the tell-tale signs of a JCW model, combined with the folding fabric roof of the convertible model. Mini has yet to reveal the convertible version of the latest, third-generation Cooper, but while we're expecting it to take a similar approach to the outgoing model – with four seats and a soft top stacking up in the back when open – there's always the chance that, with the demise of the two-seat Roadster model, the roof on the new cabrio will fold more flush with the rear deck. Since this prototype, like the previous one we saw over a year ago on a flat-bed truck, has its roof up, it's impossible to say at this point. What we can see is that this prototype, though decked out in swirly camouflage, is wearing the upgraded body kit of the new JCW hatch, including the flared wheel arches, big air vents and dual central exhaust tips. The wheels, though wearing snow tires appropriate to the climate, fill those flared fenders well, and are in turn packed with what look like pretty big brakes. Expect the 2.0-liter turbo four to pack the same 228 horsepower and 236 pound-feet of torque as the hardtop version, only with the added thrill of wind in your hair. Of course, if Mini is indeed preparing to launch a JCW version of the new convertible, there's nothing to say it won't do the same with the four-door Hardtop, the upcoming Clubman wagon or any other body-style in the new range. Featured Gallery Mini JCW Convertible: Spy Shots View 9 Photos Image Credit: CarPix Spy Photos MINI Convertible Performance jcw mini convertible mini cooper convertible