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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.

Mini teases third-gen hatch to debut next week

All it takes is a small spark to set off a fire. Just look at what has happened since BMW brought back the Mini in the early 2000s. What started with a hatchback has since spawned more bodystyles than we care to count and almost as many imitators. The second generation followed in 2007, and now Mini is preparing to launch the third.
The new Mini is scheduled to debut a week from now on November 18 at the Oxford plant in England, just days before the LA Auto Show and Tokyo Motor Show kick off and on the birthday of the original's designer Sir Alec Issigonis.
The third generation of the popular retro hatchback is expected to closely follow the lead set by the Mini Vision concept revealed a few months ago, but then we already knew that, having seen numerous undisguised photos of the new car in action. Still, the half-minute teaser video embedded below does a decent job of drumming up some enthusiasm, so if you're enamored of the Anglo-Saxon retromobile, head on down to check it out.

Mini could go even bigger with next Countryman

We recently reported that the new family of Minis could balloon from eight models to ten or more, but it's not only the model line that's expected to grow: so too could the largest model itself. That, of course, would be the Countryman, which is already bigger than anything else ever to wear the Mini badge. But if you think the current Countryman is already big enough, the latest reports suggest that it could get even bigger. Apparently parent company BMW feels a larger Mini crossover would better compete with more mainstream models in the marketplace.
The Countryman, however, will only be one of the new variants to spin off of the new third-generation Mini. Expect the new Hardtop hatchback introduced in LA to be followed by a new Cabriolet, Roadster, and Paceman. A five-door version of the base hatchback will also join in addition to the new Clubman, which is tipped to get a split tailgate instead of the single hinged aperture on the current model. The jury's still out on the Mini Coupe, which has largely failed to impress, while a convertible crossover could be back in the mix along with the rumored plug-in hybrid version.