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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.

2020 Mini Cooper SE electric hatchback pricing, availability announced

The 2020 Mini Cooper SE electric hatchback now has a price and an on-sale date for America. The retail price including destination charge is $30,750 before any tax credits are applied. Seeing as other BMW electric cars still qualify for the full $7,500 federal tax credit, the Cooper SE should be available across the country for $23,250, and Mini says buyers in some states with additional incentives should be able to get one for under $20,000. It will be available in March 2020, and Mini said it will be offered across the country, implying that it may not be restricted to specific states like some other EV offerings. For comparison, a similarly potent gas-powered Mini Cooper S starts at $29,100, and a regular Mini Hardtop starts at $25,100. The Mini Cooper SE doesn't have a range estimate for the United States yet, but European estimates put it at 146 to 168 miles. We expect Mini's latest EV to have a shorter EPA-estimated range than the 150-mile, 40-kWh Nissan Leaf, which starts at $30,885 before incentives, and $23,385 after the $7,500 federal tax credit. The Leaf has more rear seat and cargo space plus more torque at 236 pound-feet, but the Mini has more power than the 147-horse Leaf. Whatever price you pay for your Mini Cooper SE, you'll get an electric motor that sends 181 horsepower and 199 pound-feet of torque to the front wheels. Mini says that will propel the car to 60 mph in 6.9 seconds on its way to a 93-mph top speed. The car's 32.6-kWh battery can fully charge in 4 hours on a Level 2 AC charger, and it can reach 80% charge in 35 minutes with a DC fast charger. Outside, the electric Mini has a unique blocked-off grille and standard 16-inch wheels. Inside, the SE gets a standard 6.5-inch infotainment screen with navigation and Apple CarPlay, Bluetooth connectivity, a leather steering wheel, leatherette upholstery, cruise control, heated front seats, automatic climate control, automatic windshield wipers and automatic emergency braking.

Mini reveals it's developing an electric John Cooper Works model

We at Autoblog are extremely fond of the Mini Cooper SE electric car. So we're also excited to learn that Mini is also developing an electric John Cooper Works model. Unfortunately, that's all Mini has actually said about a future electric John Cooper Works model: that it's in development. Anything else about it, such as how hardcore it will be, or what motor it will use, is entirely up for speculation. All we have to go on are photos of the prototype. From the looks of it, the prototype is simply a Mini John Cooper Works (JCW) GP, but with an electric powertrain. The entire body, even the giant wing and funky fender flares, is the same as the uncompromising GP, except for the grille. The grille is the mostly solid example used on the Cooper SE. There aren't any tailpipes on this car either, for obvious reasons. This certainly suggests Mini is planning a mean electric JCW, and not just a slightly stiffer upgrade from the S/SE models. It raises big questions about the motor, though. The gas-powered GP is the most powerful production Mini in history with over 300 horsepower. Only one BMW motor has been used in a Mini so far: the base i3 motor, which makes 181 horsepower. The i3s has a punchier motor that makes 195 horsepower that would probably drop in easily, but it wouldn't seem powerful enough for a GP-type car. Perhaps the iX3's motor, which makes 286 horsepower, could fit? It would certainly be near enough to the GP's engine. Maybe even one of the motors from the dual-motor, 500-horsepower BMW iX would do the job? We'll just have to wait and see, and it's hard to say just how long, since Mini gave no information on reveals. Hopefully it won't be too long if the company is testing minimally camouflaged electric GP prototypes. Related Video: