BMW profit of $2.7B is down as automaker invests to keep luxury lead
 

<p>Filed under: <a href="http://www.autoblog.com/bmw/" rel="tag">BMW</a>, <a href="http://www.autoblog.com/category/earnings-financials/" rel="tag">Earnings/Financials</a></p><p><a href="/2013/08/02/bmw-announces-2.7b-profit-but-down-from-last-year/#continued"><img alt="BMW logo with headquarters" data-mep="680" src="http://www.blogcdn.com/www.autoblog.com/media/2012/07/bmw-logo-with-headquarters.jpg" /></a><br />
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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 billion euros ($2.75 billion) is down 8.8 percent from last year. Investments in new technology (e.g. the new <a href="http://www.autoblog.com/2013/07/15/2014-bmw-i3-review-first-drive/">i3</a>) and personnel, in addition to a competitive market, are to blame, <a href="http://www.autoblog.com/bmw/">BMW</a> 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."<br />
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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 <a href="http://www.autoblog.com/audi/">Audi</a>, which delivered 780,510 vehicles, <a href="http://www.autonews.com/apps/pbcs.dll/article?AID=/20130801/COPY01/308019964/bmw-q2-profit-falls-on-higher-spending-to-keep-ahead-of-audi#axzz2ajMWdLtw"><em>A utomotive News</em></a> reports. <a href="http://www.autoblog.com/mercedes-benz">Mercedes-Benz</a> delivered 694,433 vehicles to cement third place.<br />
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The company's other brands are doing about as well in the second quarter as they did last year, with <a href="http://www.autoblog.com/mini">Mini</a> sales volume falling 1.2 percent to 82,644 units and <a href="http://www.autoblog.com/rolls-royce">Rolls-Royce</a> sales up by three to 833 deliveries. BMW Group expects that the 10 new models it's introducing in 2013 and 2014 - including the <a href="http://www.autoblog.com/2013/03/04/rolls-royce-wraith-geneva-2013/">Rolls-Royce Wraith</a> in the fourth quarter, the <a href="http://www.autoblog.com/bmw/4+series/">BMW 4 Series</a> coupe, the next-generation <a href="http://www.autoblog.com/bmw/x5">X5</a> and, of course, the i3 - will help keep sales up.<br />
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Check out the official press release <a href="/2013/08/02/bmw-announces-2.7b-profit-but-down-from-last-year/#continued">below</a>, where many more details of the company's performance can be found.</p><p><a href="http://www.autoblog.com/2013/08/02/bmw-announces-2.7b-profit-but-down-from-last-year/" rel="bookmark">Continue reading <em>BMW profit of $2.7B is down as automaker invests to keep luxury lead</em></a></p><p style="padding:5px;backgr ound:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.autoblog.com/2013/08/02/bmw-announces-2.7b-profit-but-down-from-last-year/">BMW profit of $2.7B is down as automaker invests to keep luxury lead</a> originally appeared on <a href="http://www.autoblog.com">Autoblo g</a> on Fri, 02 Aug 2013 13:30:00 EST. Please see our <a href="/rss-term-of-use/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href="http://www.autoblog.com/2013/08/02/bmw-announces-2.7b-profit-but-down-from-last-year/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.autoblog.com/forward/20684049/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.autoblog.com/2013/08/02/bmw-announces-2.7b-profit-but-down-from-last-year/#comments" title="View reader comments on this entry">Comments</a>

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