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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.

2013 Mini Cooper S Paceman All4

In just over a decade, Mini has expanded its modern range from the singular Hardtop model (launched in 2002) to a full range of little runabouts. The latest of these is the Paceman, and while European Editor Matt Davis gave us the full scoop on this model late last year, we recently spent time with the all-wheel-drive model just outside of Ponce, Puerto Rico.
It's weird, this Paceman. It slots in between the Hardtop and the Countryman (on which its based) in terms of size and functionality, and Mini says that it will appeal to a more style-conscious shopper. Key competitors range anywhere from the Nissan Juke on the low end to the Land Rover Range Rover Evoque on the high end.
After spending lots of time with the Countryman, we're convinced that maxi can still be Mini. And the same is true with this Paceman, too.

Honda engines and giant killing in the classic Mini Cooper

Electric Federal has taken a fresh look back at the enduring legacy of original Mini with a video interview with Heritage Garage's Graham Reid, one of the foremost experts on classic Minis. As Electric Federal points out, it's important to remember that the Mini did not start out as a performance car. It was built in response to the Suez Canal crisis of the mid-50s, which had a similar effect on British gas prices as OPEC did on American prices in the 1970s - rationing and rapid price jumps.
Through the years, Minis have grown from their budget roots to become seriously competent performance machines. As Reid says, a 150-horsepower Mini on the right track should have no problem outpacing a contemporary Porsche 911.
For some time now, classic Mini owners have been dropping Honda engines under the tiny hoods of their classics. With up to 250 horsepower pulling a car that tips the scales at barely 1,200 pounds, the upgraded Mini is "a real sleeper," Reid says. Interestingly, Reid doesn't mention another increasingly common swap in the Mini community - Suzuki Hayabusa-powered Coopers.