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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.

BMW X4 M40i caught production-ready

It seems like BMW is pretty committed to this whole X4 thing. Aside from the current xDrive28i and xDrive35i, we've captured a round of spy photos showing what our spy shooters tell us is a more dynamic M40i model.
The higher-performance hunchback follows in the footsteps of BMW's other sub-M cars like the M235i. In fact, much like the high-po 2 Series, the M40i is expected to make use of a 3.0-liter, turbocharged six-cylinder, developing 365 to 375 horsepower.
Aside from that, the rest of the X4 M40i fits the brief of other near-M models, with a more aggressive body kit, larger wheels, firmer suspension and brawnier brakes. Expect some mild tweaks inside, too, including sportier seats and an M-specific steering wheel.

Behind the scenes of BMW's 'Driftmob' [w/videos]

All this, for one minute and 47 seconds of action-packed footage with no official plot.
We arrive in Cape Town, South Africa, on the third and final practice day for the drivers of a BMWStories internet video called The Epic Driftmob feat. BMW M235i. We are immediately whisked to a large, empty parking lot on the outskirts of Cape Town, where tires are squealing and chunks of rubber are flying as five red BMW M235i coupes churn up more smoke than a California wildfire. And the smell - it smells like heated metal, the kind of thing rev limiters are made for. Times five.