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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 sets sales record in 2021, despite ongoing pandemic

LONDON — Luxury carmaker Rolls-Royce, a unit of Germany's BMW, said on Monday its sales soared 49% to a record high in 2021 despite the global coronavirus pandemic, as demand worldwide for luxury vehicles surged. In an online presentation, Rolls-Royce CEO Torsten Muller-Otvos said the carmaker sold 5,586 vehicles to customers in more than 50 countries, the largest number in its 117-year history despite all the volatility wrought by the pandemic. "In the luxury sector as a whole, the struggle was not so much focused on attempting to find customers, but rather producing enough product to satisfy huge customer demand," Muller-Otvos said. He said sales hit all-time records in most regions, including China and the Americas. Premium and luxury car sales have been growing more broadly in key global markets such as China and the United States as pandemic travel restrictions have left wealthy consumers with more disposable income. "Covid forced many people to ground, not to travel anymore and for that reason there is quite a lot of wealth accumulated and that is spent on luxury goods," Muller-Otvos told Reuters. "We profited from that development." He said the carmaker's British plant in Goodwood was running at close to maximum capacity and its order books were full well into the third quarter of 2022. "If you order a Rolls-Royce today, you will expect to take delivery of it about a year from now," he said. Luxury British carmaker Bentley, a unit of Volkswagen AG said last week that it had cruised to a record year in 2021 as global sales jumped 31% amid strong demand for high-end vehicles. Last week BMW said it had achieved record sales of over 2.2 million vehicles from its BMW brand in 2021, outstripping 2019 sales despite a global shortage of semiconductor chips. Muller-Otvos said that while the chip shortage was cause for concern, Rolls-Royce's parent BMW had "assured that we could take delivery of all the chips we need to build our cars, so we haven't seen any shortages." Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Rolls-Royce Cullinan revealed: Ultra-luxury SUV is so British, it curtsies

Why did we ever expect the Rolls-Royce Cullinan to look like anything other than a Phantom on a lift kit, minus the trunk? The Rolls-Royce of SUVs perfectly employs Phantom cues, from the raised hood to the strong shoulder line and coach doors. The English off-roader brings a bunch of brand-redefining firsts with it, including all-wheel drive, an off-road driving mode, and a suspension that actively extends the dampers to keep every wheel on the ground. All of the vehicle's innovations serve the tagline that will help sell the Cullinan to wealthy owners: "Effortless, Everywhere." View 30 Photos The Cullinan stretches 210 inches long on a 130-inch wheelbase, 17.2 inches shorter overall than a Phantom on a wheelbase 9.8 inches shorter. However, the SUV is 5.6 inches wider than the sedan and its roof stands 7.2 inches higher. Built around the same all-aluminum Architecture of Luxury as the Phantom, the extra bits that make the Cullinan ready for dirty work add just 200 pounds compared to the car, for a curb weight of 5,864 pounds. The 6.6-liter twin-turbo V12 (Rolls-Royce still refers to it as a 6.75-liter) produces 563 horsepower and 627 pound-feet of torque, matching the Phantom's horsepower but losing 37 lb-ft of torque. However, the remaining torque comes 100 rpm sooner in the Cullinan than in the Phantom. Rolls-Royce whipped up another narrative trick to keep the Cullinan from being associated with the two-box SUV herd, calling it "the first 'three-box' offer in the SUV sector." With only two boxes visible from outside, we assume Rolls-Royce refers to the available glass partition in the cabin separating the seating area from the cargo, for Cullinans equipped with individual second-row seats. That would make for three distinct areas, and serve as a "nod to the era when luggage was mounted on the exterior of the motor-car, so the occupants did not travel with their belongings." Speaking of which, the feature we normally call a "tailgate" is called "the Clasp" on the Cullinan, a reference to when drivers put luggage on the outside of the car. The electrically operated two-piece hatch has a narrow lower section that folds down to help support the electronic drawer in the Recreation Module. The module provides custom designed storage for tools suitable to an owner's hobbies, like hawking, hunting, or drone racing, or it can stow the seats and cocktail table for the Rolls-Royce Viewing Suite. The Cullinan earns its chops in the cabin and under the skin.