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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.

Bloodhound hits 210 mph in test for land speed record run

It was actually 210 miles per hour, 10 mph faster than promised. The rest of the day went swimmingly, and on schedule, by the Bloodhound land speed record team. "The car ran for 20 minutes, and it did two full-power runs, with full power for 5 seconds, and 0 to 200 mph in just under 9 seconds," said Mark Chapman, Bloodhound's chief engineer. "So the exciting bits were about 18 seconds long, but people were here from dawn to dusk. The atmosphere was unbelievable." Bloodhound, which will travel at 70 mph simply on the idle of its EJ200 jet engine, had to be held back on the brakes before wing commander Andy Green floored it for 5 seconds. The jet flamed and roared on afterburner and then it was over. I might have given a little squeak; it was mightily impressive. "This is a really big engine," said Richard Noble, Bloodhound project director and former land speed record holder, "and when it runs, there's a flame and a crackle and boom, and people think, 'My goodness, that's really something.'" It was, and Green might well have thought so when he first came to apply the brakes in testing for the inaugural public run last week on the runway at RAF St Mawgan near Newquay in Cornwall. "We've had some interesting times working out how carbon brakes work, because they do take a while to warm up," said Chapman. "The cockpit footage online shows Andy's eyes looking like dinner plates when he puts his foot on the brake and nothing happens for a bit." Typically, Green took it all in his stride. He is one of just three people alive to have traveled at 600 mph on the ground (Richard Noble and Craig Breedlove are the others) and was hugely impressed with Bloodhound. "The car is absolutely fabulous," he said. "From day one, it felt right: crisp and precise, you can feel it on the road; it's super. There was only one slight surprise on the braking and that was more to do with the engine over-swing." This meant that the Rolls-Royce Eurofighter engine wouldn't shut off immediately when Green lifted from the throttle. "That delay was a real surprise to us," he said, "because all previous jet cars have had mechanical fuel-control systems where a rod closes a valve and a quarter of second later, all thrust has gone. The EJ200 engine, though, manages its own fuel supply based on what the digital throttle request is, and it takes quite a lot longer to stop.

Muhammad Ali's 1970 Rolls-Royce Silver Shadow is going for auction

Boxing fans and Rolls-Royce fans, get your wallets ready. A very special car is going to cross the Bonhams auction block this October. It's a 1970 Rolls-Royce Silver Shadow Mulliner Park Ward convertible that was owned by none other than Muhammad Ali, the boxer that ended George Foreman's undefeated streak. Bonhams reports that the car was owned by Ali for 6 years, meaning Ali must've enjoyed this car and used it quite a bit. The company postulates that since Ali bought the car in 1970, it may have been a celebratory purchase, since that was the first year Ali could box again after a five-year ban from the sport for being a conscientious objector during the Vietnam War. The car itself has a number of notable features. For one thing, Bonhams says the car is completely unrestored, and is in quite good condition as such. It also is apparently one of just 272 Silver Shadow Mulliner Park Wards that were built with left-hand drive. It ended up in Holland after Ali's tenure with it, which is partly why it will go for auction at a Bonhams auction in Belgium. Also interesting is that this is a celebrity car – a nice one, too – that is in the realm of affordability. Bonhams estimates it could sell for between $47,000 and $70,000. The low end of that price is actually a couple grand less than Hagerty's estimate of $49,200 for a concours-ready example without celebrity history. And even at the high end, you'll still be paying way less for this than, say, a new Rolls-Royce Ghost. So if you can get yourself to Holland and have the means to buy and ship the car, this could be a way to get a great celebrity car for not a massive amount of money. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.