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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 electric airplane smashes record, hits 387.4 mph

Just two months after its maiden flight, Rolls-Royce's "Spirit of Innovation" has hit a top speed of 387.4 mph, tentatively smashing the speed record for electric airplanes, Gizmodo has reported. It also claimed the top speed of 345.4 MPH over a 3 kilometer (1.86 mile) course and lowest time to a 3,000 meter (9,843 feet) altitude (202 seconds). The records have yet to be certified, but if the 345.5 mph speed stands, it would beat the current record of 213 mph — held by a Siemens-powered Extra 330LE — by an impressive 132 mph.  Rolls-Royce (the aviation, not the car company), conducted the tests on November 16 as part of its ACCEL (accelerating electrification of flight) project. To have the records certified, it's submitting the trials to the Federation Aeronautique Internationale (FAI), the body in charge of world aviation records. If confirmed, the speeds would be pretty impressive considering that the plane only made its maiden flight in September — suggesting that with more time, it could go even faster. 51690212450_7e8bcb3ad8_k View 12 Photos The Spirit of Innovation is an old-school "tail-dragger" airplane (steering at the rear) with the canopy pushed way back, and looks as fast as it goes. It's powered by a 400 kW (535 HP), 750 volt motor. Rolls-Royce said it uses the "most power-dense propulsion battery pack ever assembled in aerospace," with 6,480 cells.  As Engadget detailed in an explainer, electric airplanes aren't practical since current batteries are 50 times less energy dense than jet fuel. However, they do hold some promise for very short trips, like a 30 minute jaunt between Vancouver and Victoria in Canada. And unlike non-turbocharged ICE engines, electric motors retain full power as an airplane climbs, making them ideal for time-to-altitude record attempts — as the Spirit of Innovation has just shown.  Green Rolls-Royce

Rolls-Royce Wraith convertible planned, SUV rumors kicked to the curb

Seeing as it adheres to the exotic car template we've known for years, it should surprise no one that the next model from Rolls-Royce will reportedly be a convertible version of the Wraith. When the coupe is on its way to dealers at the end of this year, company CEO Torsten Müller-Ötvös has told Autocar that the British luxury marque start applying itself to the convertible.
At no time will they apply themselves to an SUV, though. Still sticking to its brand-value guns, Müller-Ötvös says that an SUV wouldn't have that trademark Rolls-Royce feeling and that such a vehicle hasn't even been discussed. Having heard this before from other brands, we can't help but suspect that one day in the future we'll hear the phrase, "Oh, but this is the Rolls-Royce of SUVs."
The investment in an SUV would also mean a huge investment in the factory at Goodwood, however, since Wraith production is expected to need three shifts and raise levels to near capacity. And forget about building anything from The Spirit of Ecstasy somewhere else, Müller-Ötvös saying, "Rolls-Royces are built in Goodwood."