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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.

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.

2013 Mini John Cooper Works

Location, Location, Location
Back in February, Mini invited me to come try out its brand-new Paceman coupe-crossover-hatchback thing in Puerto Rico, and not long after, I spit out a Quick Spin detailing my impressions of the little-big two-door. But here's what I didn't tell you: Mini also let me loose on those fine, curvaceous, tropical roads in its hottest hatch, the John Cooper Works GP. And while that behind-the-wheel gigglefest would have no doubt made for a story laden with positive notes and warm regards, the truth is, I only drove it for 15 minutes, so I couldn't in good conscience offer much of a story to you. (European Editor Matt Davis also got a short stint behind the wheel of the GP late last year.)
So for the sake of due diligence, I buckled down and spent a full eight days with the JCW GP back home in Detroit, just as springtime was starting to stick here in southeast Michigan. But after my time with the Mini, I was wishing that I could have just been left with my GP memories from Puerto Rico, where I was pushing the little hotbox hard around smooth corners and flexing every one of its muscles to eke out the full JCW GP experience in only a short timeframe.