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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.

Rolls-Royce to show new Cullinan SUV in 'closed-room' events

Rolls-Royce plans a series of closed-room events starting this summer to show off its upcoming ultra-luxury SUV to potential buyers ahead of its expected unveiling in late summer. Codenamed the Cullinan and described by the company as an "all-terrain, high-sided vehicle," the SUV is Rolls-Royce's answer to ultra-luxury competitors like the Bentley Bentayga and Lamborghini's new Urus. It's expected to nudge the brand's vehicle sales past 5,000 a year after sales in 2017 fell 16 percent to 3,362, Automotive News reports. Engineers are now finalizing the handling of the vehicle on Germany's Nurburgring track. The Cullinan bears the luxury brand's signature long hood, vertical-slatted grille and upright, block-like fascia. It will be built on the same aluminum platform as the Phantom and is also likely to share the 6.75-liter twin-turbo V12 that makes 563 horsepower and and eight-speed automatic transmission, only in all-wheel-drive. Sales are expected to start near the end of the year with deliveries beginning in 2019.Related Video:

First Dawn from Rolls-Royce raises $750k in charity auction

Even for a Rolls-Royce, $750,000 seems like a lot of money. But that's how much one customer paid this past weekend for the privilege of acquiring the very first example of the new Dawn convertible. And we're glad to report that the the money is going to a good place. Rolls-Royce introduced the Dawn this past September at the Frankfurt Motor Show as the convertible counterpart to the Ghost sedan and Wraith coupe. It's set to take on the likes of the Bentley Continental GTC and Mercedes S-Class Cabriolet, packing a 6.6-liter twin-turbo V12 good for 563 horsepower and 575 pound-feet of torque up front and a folding fabric roof over its four-seat cabin. The company's Bespoke division set up this particular example in Andalusian white, with a deep red roof, red coachline, and a corresponding interior in red and white with Indian rosewood paneling and special treadplates. Valued at over $400,000, the vehicle was donated for the charity auction at the Naples Winter Wine Festival held this past Saturday to benefit the Naples Children & Education Foundation. The winning bid of $750,000 was placed by insurance mogul and hedge fund manager Julian Movsesian, pictured inset at left with Rolls-Royce CEO Torsten Muller-Otvos. He'll take delivery in April from the dealership in Naples before anyone else gets theirs. Over the same weekend in Arizona, an Acura NSX sold for $1.2 million, a COPO Camaro for $300k, and Jay Leno's Harley-Davidson edition Ford F-150 for $200k – all of them the first of their kind, and all benefiting charitable causes. Related Video: Rolls-Royce Dawn Raises $750,000 For Children's Charities As The Brand Marks A New Era With The Most Social Rolls-Royce Ever NAPLES, Fla., Feb. 1, 2016 /PRNewswire/ -- - Dawn brought a winning bid of $750,000 at the 2016 Naples Winter Wine Auction - California area collector to receive the very first Rolls-Royce Dawn globally - Over past 15 years, Rolls-Royce Motor Cars have grossed $4.8M in bids for the auction - Proceeds to benefit Naples Children & Education Foundation It is one thing to bid on a prize as rare as a Bespoke Rolls-Royce and quite another to bid on the once in a generation opportunity to be the first owner of the newest member of the Rolls-Royce Motor Car family, the all-new Dawn.