BMW Car News

Bmw History How And When Started

2011-05-25T06:54:00.000-07:00

BMW – a reputation built on quality without compromise

As an experienced driver, you know the importance of keeping your BMW in tip-top condition. Regular servicing will extend your car's life and identify defects before they become catastrophic.

When you consider the history of BMW and how the Company has built its global reputation for prestige and performance excellence, booking a BMW service that is conducted with care and precision is vitally vital in retaining the characteristics of this prestige car.

BMW facts you may not know

BMW has its roots in pre-First World War German aviation.

Gustav Otto, son of the inventor of the four-stroke internal combustion engine, set up an aircraft factory and training school in 1910. But, after persistent quality problems with production, his business was bought by a consortium in 1916. The company became known as Bayerische Flugzeugwerke AG (BFW) and started manufacturing aircraft under licence from Albatros Werke. It soon became the largest aircraft manufacturer in Bavaria, but at the end of the First World War demand collapsed.

Meanwhile, in 1913 an engine designer Karl Rapp had set up an aircraft engine manufacturing company, but vibration problems with their own engines meant that they switched production to Austro-Daimler V12 engines, under licence. A man called Franz Josef Popp was place in to supervise the manufacturing. He managed to persuade Karl Rapp to use a talented design engineer from Daimler, Max Friz. Friz quickly designed a new engine and made such an impact with the investors, that Karl Rapp was ousted from the business in 1917. At this point the company name was changed from Rapp Motorenwerke GmbH to Bayerische Motorenwerke BmbH (BMW).

But, in December 1918, BMW was forced to close down by the government at the end of the First World War. But, in less than three months BMW was allowed to reopen and started designing a new array of engines, although the company was forced to stop aircraft engine production. At this point, an Austrian financier, Camillo Castiglioni, had become the majority shareholder in BMW.

In the summer of 1919, BMW started building brake assemblies under licence from Knorr-Bremse AG, and around a year later Castiglioni sold his shares in BMW to Knorr-Bremse.

Following the sale of his stake in BMW, Castiglioni became interested in purchasing BFW which he completed in 1922. On the back of this, he went to buy back the BMW name and engine building division from Knorr-Bremse. He was successful, and with the merger of BFW and BMW, under the BMW name, he also secured the design and management skills of Max Friz and Franz Josef Popp, plus valuable engine drawings and patents.

BMW started production of replacement engines, whilst Castiglioni did a lucrative deal with the Czechs to licence the production of BMW aircraft engines for use by their military.

During the 1920s, BMW supplied Russia with aircraft engines and Castiglioni, as well as being the majority shareholder, siphoned off a brokerage fee on every transaction to his ‘private' companies.

Along with military engines, BMW started to successfully manufacture small agricultural engines and motorcycles, starting with the R 32 in 1923. These formed the basis of the project to design a BMW production car in 1925. Then in 1928 the company expanded into full car production with the buy of the Eisenach Car Factory that made the Dixi (or Austin Seven manufactured under license). The car became known as the BMW 3/15 and it was not long before BMW was producing its own designs.

But, Castiglioni's business dealings got himself and BMW into distress. After selling a majority shareholding to Deutsche Bank in 1926, to raise personal funds, his irregular commission payments were duly revealed. He settled out of court with a large payment back to BMW and stepped down from the board. In 1929, he sold the remainder of his shared to Deutsche Bank to prop up his finances.

The Castiglioni affair had also cost BMW. The Russian government became aware of the ‘commission' payments and demanded compensation. BMW handed over a licence to produce the BMW VI engine for free and relations with the Russians came to an end in the early 1930s.

After successful expansion of the motorcycle and car businesses in the 1930s, BMW was forced to abandon civilian production by the National Socialist Party during the Second World War and focus on the production of aircraft engines. This included the use of forced labour.

Towards the end of the war, BMW was hit hard by allied bombing and when the war finished, the sites in eastern Germany were seized by the Russians. Meanwhile, whilst BMW survived in the West, they were banned from manufacturing engines for three years and BMW car plans and their chief designer Fritz Fiedler were taken to England to start Bristol Cars. And so it was not until 1948 that production of BMW motorcycles recommenced and not until 1952 that car production was started again.

The initial post-war car models, such as the 507 and 503, were not highly profitable and in 1959, BMW discussed selling the business to Daimler-Benz. This was an unpopular go with the workforce, and fortunately Chairman Kurt Golda increased his stake in the company to secure BMW's independence.

During the 1960s the release of more sporty models spelt success for BMW. The BMW 1500 (that followed the BMW 700) led to the BMW 1600 and BMW 1800 models and in 1967 two door and convertible models that became known as the BMW 02 series. These developments eventually led to the creation of the well-known BMW 3 series.

The company expanded, with new production facilities and a new headquarters in Munich.

Going into the 1970s, the BMW 5 series replaced the sedans, the coupes were replaced with the BMW 3 series and a new BMW 7 series was launched, thereby giving BMW three distinct sports sedan ranges that continued into the 1990s.

BMW became a global brand in prestige car manufacturing and sales increased 18 times. Production expanded from Germany and has spread to across continents, including facilities in the UK, America, South Africa and India. The company has also formed partnerships over time with Russian and Chinese producers.

In the mid 1990s, BMW bought Rover from British Aerospace. But, the company struggled to find a role for the English brands and make a profit. In 2000 it disposed of Rover to Phoenix Venture Holdings and sold the Land Rover brand to Ford. But, BMW retained the Mini, Triumph and other brands. BMW has since successfully rekindled the Mini brand and also gone on to secure full use of the Rolls Royce brand (in 2003).

From its humble origins as pre-First World War makers of aircraft and aircraft engines, BMW has survived as a result of post-war entrepreneurial spirit and grown rapidly to become a major global player in the prestige car market.

Book your BMW service with confidence

So when you book your next BMW service, you can be confident that Service A Car understands the heritage of BMW and conducts BMW servicing with the passion and precision your prestige car deserves.

Read More Such Articles at http://mycardrive.com/

Read more: http://www.articlesbase.com/cars-articles/bmw-history-how-and-when-started-3130659.html#ixzz1NN8A5Fm9
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Introducing The Bmw M Power

2011-05-25T06:50:00.000-07:00

Lauderdale BMW of Ft. Lauderdale, a leading BMW car dealer Fort Lauderdale, Hollywood, is proud to inform you of yet another innovation from BMW. If a customer is driving his BMW and would like to measure the car’s acceleration, he can do so through a new application called BMW M Power which can be used through an iPhone and iPod Touch. The application will also work in non-BMW cars.
BMW M Power can report the vehicle’s current speed, acceleration in Gs, elapsed time taken to reach a certain speed, or time taken to cover a certain distance. The software uses the device’s built-in accelerometer to measure acceleration and thus calculate speed. The M Power application and three custom “skins” can be downloaded from the iTunes App Store or through BMW’s website.
The icing on the cake is that M Power can be downloaded absolutely free of cost. BMW has always been a pioneer in innovative technologies and has once again, proved their utmost commitment to customer satisfaction with another addition to their features kitty. Please contact Lauderdale BMW of Ft. Lauderdale, a leading BMW car dealer Fort Lauderdale, Hollywood, to learn more about BMW M power or about new BMW cars or to schedule a test drive

Read more: http://www.articlesbase.com/cars-articles/introducing-the-bmw-m-power-1809067.html#ixzz1NN7m9RqM
Under Creative Commons License: Attribution

Giving your BMW Car a fresh glance

2010-07-24T02:34:00.000-07:00

When you listen to the word BMW automobile, the next thing that comes to your mind is luxury, status and strength to drive the world. BMW is one of the most flourishing companies producing awesome cars in the world. With precession and brilliance in every part of BMW cars, it is in fact the owners pride to own such an amazing vehicle. You might usually think that being a faultless automobile with excellence in every part and each design of this brand, why is the necessity felt to give your BMW automobile a new look. It goes without saying that BMW is excellent when it comes to designs and superiority as compared to other world class cars, and then there is a necessity to give your BMW an exceptional appearance. The feeling to possess an automobile which can be only dreamt by lots of the people cannot be expressed in words moreover the new look actually adds worth to your precious model of BMW automobile.

The new look is priceless as your BMW looks far more superior than what it was earlier, definitely they will only enhance its outside appearance. You can put in your own imaginations to generate a special BMW automobile. There's different methods by which you can give your BMW automobile a new look, one of the best way is to make use of the BMW body kits. These kits contain various tools which add up to charm of your BMW automobile, like accessories, mirrors, fascia panels or plates, headlights, rear lights, grilles, exhaust pipes, emblems, spoilers, HID lights and far more to enhance your BMW automobile. This will immensely help you to give your BMW automobile a fresh as well as a different look, which will be envied by your friends and colleagues. A BMW body kit is useful to enhance the appearance of your BMW and also enhances its performance. All the accessories do enhance the appearance of your existing BMW automobile, but fascia panels or fascia plates immensely improve its compartment.

Though the BMW automobile bought by you might have a fascia plate which is usually company made, but still you feel the necessity to enhance it as you might not be satisfied with it. Furthermore, in the event you have been using your BMW automobile for years together, the fascia plates might be worn out, crooked, scratched or broken, so you might need to alter it which further changes the appearance of your BMW automobile, and you like it! Fortunately there is a range of fascia plates offered in the market now-a-days. You will basically get it in your local automobile accessories shop, or else the excellent alternative is to see for the latest and most compatible fascia plates offered online. However, you need to pick one that is compatible to your BMW model. This is the most common mistake committed by BMW automobile owners they pick one that looks awesome but it is of no use if the fascia panel bought by you is not well-matched with the model of BMW automobile you own.

Here is a list that might help you to see a number of the recent fascia plates offered in the market today, Auto leads FP 06 04 - for the BMW 3 Series 1998 • Auto leads FP 06 00 - for the BMW 5 Series 1995 • Auto leads FP 06 06 - for the BMW 1 & 3 Series • 281020 06 Fascia plate X5 slim black - for the BMW 5 (E39) • 281020-01 automobile radio bay X5 radio - for the BMW 5 (E39) You will discover a variety of fascia plates for various models of BMW automobile. Make a small search on the Net and pick one that is compatible to the model of BMW automobile you own. Give a new look to your BMW automobile by choosing the right type of fascia plates offered in the automobile market.

BMW X5, Comfortable and Smooth Ride

2010-07-22T21:11:00.000-07:00

When you have ever visited a BMW car lot, you were likely confronted with numerous distinctive models. All of them appeared great, you did not know which one to pick. Nevertheless, have you ever examined the BMW X5? Do this, walk in to a BMW dealership near you & ask to see the BMW X5.

The BMW X5 is a mid-size luxury crossover SUV sold by BMW since 1999. Now a lovely five years in to its life cycle, the BMW X5 is headed for a redesign. The 2006 BMW X5 is a solid performer, with all-wheel drive & plenty of power from the optional v-8. To keep the drivers & passengers safe, the 2008 BMW X5 is equipped with crash activated headrests.

You will observe the streamlined interior as well as the colorful exterior. It comes with all the add ons, in the event you prefer, that make life on the road as comfortable as feasible. With a smooth ride & plenty power to get you to wherever you require to go, & in style.

All you require to do is locate a BMW dealership close to you. The BMW is so renowned, it genuinely is a status symbol today, that there's BMW dealerships all over. You are likely to find one, or still several, BMW dealerships near you. stroll in & let them know that you require to look at a BMW X5. by mentioning that, you will be allowing the dealer recognize that you are aware of exactly what you desire & what you require is a superior machine.

The chief attribute of the BMW X5 is its size as the vehicle can carryover seven passengers comfortably & all of the stuff needed to move them to their various activities. Magnitude that can be measured; with a capacity of up to 1750 litres, the baggage compartment of the new BMW X5 is an exemplary combination of versatility & volume.

When a person resides well financially, & all of us have our own degrees of success, they like to express that success in various ways. The drivers of the BMW X5 parade their success in the choice of their automobile. The BMW X5 was built with precision & style in mind & all of that is evident the moment you turn the engine over.

A five-seater as standard, this automobile is also obtainable with an optional folding third row of seats to convert it in to a seven-seater. The BMW X5 is practical & spacious for a relatives vehicle & would suit the trials of relatives life well. The BMW X5 is exceptionally stable for a vehicle of its height. Not only is it a revolution in bmw design & development, the BMW X5 is also one of the most powerful in its range.

The BMW X5 is constructed solely in South Carolina, but likely the diesel engine does not meet the rigorous us government [epa] pollution requirements. BMW X5 is fitted with a computer chip to give the temperature, gas mileage, an approximation of how long the gas will last. The new BMW X5 is the only automobile in the segment obtainable with both active steering & adaptive drive (a combination of active roll stabilization & electronic damping control), designed by BMW, as well as the first in its section to be furnished with runflat tires as standard equipment.

You can listen to the soft hum of all that power underneath the front hood. Whatever characteristics you prefer, or in the event you pick all of them, you will find that being behind the wheel of your new automobile is different than plenty of cars on the market. You will recognize you enjoy driving, that you savor being behind the wheel of this strange automobile.

An additional option of note is the supplementation of the optional park distance control, the new BMW X5 is obtainable with a backup camera: a video process which eases parking maneuvers in enclosed areas or spots with poor visibility. The BMW X5 is a can be a pricey automobile to buy, & the choices that are offered would raise the cost yet higher if the purchaser wished these options on their vehicle. However, usually people looking to buy a BMW have the means to afford these additional amenities.

Seek out a BMW dealership close to you & let them know exactly what you require. Basically by asking for the X5, are you able to honestly demonstrate to the dealer that you are serious about your research. You went in there with one objective in mind & that is to buy the best automobile on the market. You went in there to buy the BMW X5 & when you at long last drive it off the vehicle lot, you will recognize why so plenty of individuals select the X5 as their choice of premium motor vehicle.

The Race Car Inspired BMW M3

2010-07-22T06:21:00.000-07:00

German premier automotive maker BMW continues to maintain its hold as the top selling luxury auto brand in the world. Battling with archrival Mercedes-Benz year in and year out for the highest laurels, BMW continues to constantly tweak its existing line and add new vehicles to its line in a bid to stimulate and strengthen customer interest. One area where BMW has found much of its recent success is with its race car inspired line of vehicles, the M Series. Since 1979 various Motorsports [M} tags have been affixed to vehicles that have been developed by the BMW Motorsports division, including the BMW M3 a car based on BMW's popular 3 Series. Today, BMW engineers are hard at work on developing an all new BMW M3 and, if all of the auto buzz is correct, very few cars will be able to keep up with this 400 hp road commander. Please keep reading for a closer look at the all new, soon to be released, BMW M3.

A pitched battle in autodom continues to gather force pitting German automaker against German automaker. Legendary Mercedes-Benz is taking on heralded BMW for the right to call themselves the top selling luxury brand in the world. For years, the honor belonged exclusively to Mercedes-Benz, but a recent stumble on Mercedes' part coupled with a surge of new products from BMW has placed BMW in first place. Not far behind the two is Lexus, the luxury division of Toyota, but for now the battle remains a fight between these two German automakers.

For luxury car enthusiasts, the BMW-Mercedes rivalry has been a win-win battle as both automakers have been pouring engineering funds into their vehicles. Neither automaker is resting on their past achievements; instead both are pressing forward to add the latest safety features including Mercedes' Night Vision Assist and BMW's impact absorbing bumpers which absorb stronger impacts without damaging the vehicle's main body. Safety is one of the chief concerns for consumers when selecting a particular luxury brand according to all of the leading automotive industry surveys.

For BMW, its latest automotive project has been a closely guarded secret until very recently. Camouflaged spy shots of the all new BMW M3 have been circulating on the internet for some time now but only since June has a pre-production version of a fully unclothed BMW M3 been spotted. It was seen navigating the twisting roads of Southern California according to The Car Connection, the vehicle information and shopping site.

For BMW enthusiasts, news of a BMW M3 pre-production sighting means one thing: BMW will soon announce the date in 2007 when its latest M Series car will be available in dealer showrooms.

Right now, the current BMW M3 is still based on the fourth generation 3 Series which was replaced in 2006. The new BMW M3 will be based on the latest generation body frame and feature some notable improvements over the previous BMW M3 model including:

A larger, more potent V8 engine with an output of 400 horses. Currently, the BMW M3 features an inline six engine with a 333 horsepower output. The new model is expected to rocket from start to 60 in under 5 seconds, topping out at 155 mph.

A six or possibly seven speed manual transmission.

A longer wheelbase for better weight distribution.

Styling cues from the BMW M3 will find its way to the new model from front wing vents to twin exit exhausts along with the ubiquitous M series recognized emblems.

For Mercedes enthusiasts they can point to the soon to be released 2007 C Class, which is the direct competitor for the BMW 3 Series, as evidence that DaimlerChrysler will not let BMW out of its crosshairs anytime soon. A new AMG [motorsport] version of the C Class will follow, ratcheting up what is certain to a pitched battle to be enjoyed by compact luxury car devotees worldwide.

Additional competitors to the BMW M3 include the Cadillac CTS-V, the Audi RS4, and the Lexus IS. Prices have not been set for the new M3, but they can be expected to top out at around $60,000 fully equipped.

Source: The Race Car Inspired BMW M3

Auto Trends

BMW Car Cover, The Custom-fit Accessories designed for Your BMW

2010-01-08T05:35:00.000-08:00

Are you a proud owner of BMW car? Well, the fantastic automotive deserves equally greater car accessories and maintenance. The custom tailored BMW car covers are correctly designed keeping the details of your hot machine.

Exteriors of your car tell a lot about your personality. The satisfying and well maintained exteriors make your car special and hot. Are you concerned about the protection of your BMW body? The luxury car has to undergo varieties weather extremities. Your car is also exposed to many pollutants, chemicals available in the atmosphere.

The extreme weather conditions and other manmade and environmental factors cause color fading and dents on your car paint. While it comes to keep your car against such paint-destroying elements, it's necessary that you get a car cover that is accurately prepared for your car make and model.

Generally of us have to store our car outside under extreme weather conditions such as intense sun, rain, storms, snow etc. UV rays do maximum destruction to your paint. Especially in the hot areas the intense sun wreaks havoc on your car and trigger severe color fading. That means the car cover you get must be UV resistant. The custom tailored car covers for your BMW such as Silverguard are made of tested materials that are powerful UV inhibitors.

Further heat and sun, extended rain and moisture as well spoil your car paint. The trapped water and moisture cause rust harm making your car discolored and spotty. The breathable car cover will allow trapped moisture to escape and thereby prevents rust damage.

The quality BMW car cover that are custom tailored for your vehicle specifications comes with several other features that make them effectual, durable and user-friendly. These features include strength, color fastness, snug fitting, and light-weight among others.

BMW car covers are available for large range of models and versions. Custom car covers come in varieties of colors and patterns as well. Pick the color and pattern of your choice and get the desired car cover for greater protection.

Benefit of Online Cars Website

2010-01-08T05:12:00.000-08:00

With the advent of the Internet, purchasing, promotion or making some other kind of deal has been really simple. Especially while it comes to cars and its transactions, Internet has made a huge difference. Currently, no need to drive to one car dealer/shop/garage to another for each small need! Internet is a fast, simple and suitable medium enabling buying, selling, leasing or making any other kind of deal just with a mouse click.

Now on the Internet, there are several websites dedicated to cars. Mainly of these car websites are online trade platforms as well where one can directly sell, advertise or purchase cars like new cars or used cars.

Here are the advantages of online car websites:

Cost efficient: The finest issue about these online car websites is that mainly of them are free to sign up and begin, and don't charge on any transactions you create. In addition, you can save your money on transportation from traveling to one store to the next.

Time Saving: Internet serves everything at your screen. You can browse and evaluation all the cars with their features online rather going to the garage and seeing each car one by one.

Research & Analysis: Online car websites provide you plentiful information, tips, suggestions, reviews on the cars. Even one can take an account of experts' explanation and their feedbacks before buying any particular car.

Ample of Choices: At car websites, you find plenty of options to pick from. You can find your choice of cars according to your wish like make, model, designs or prices. Sports cars, vintage cars or any other car, you can also find cars according to your mood and lifestyles.

No Need to Compromise: Another benefit from online car websites is that if you are unsatisfied with the car then you can instantly switch to other website for better deals. This is quite not feasible in the traditional services.

Vicinity: Online websites can help you in decision deals in your region or area. This is pretty beneficial for persons who need to avoid from logistic charges and inconvenience caused.

Stay Updated: If you are really a car enthusiast then these car websites is the finest option for you. With car news (a section committed to news and updates about cars), you can be promptly aware of the newest things in the vehicle industry.

2010 BMW ActiveHybrid 7

2009-08-16T04:42:00.000-07:00

PRESS RELEASE The 2010 BMW ActiveHybrid 7 - American Market Version Woodcliff Lake, New Jersey, 13 August 2009, 6pm Eastern. On the heels of the ActiveHybrid X6, today BMW announced the performance story of the all-new BMW ActiveHybrid 7, which discretion also opening night at the Frankfurt Auto Show (IAA) in September. Based on the newest BMW 7 Series, this unmatched crate sets coxcomb standards after deportment and effectiveness in the extra indulgence sumptuousness. The BMW ActiveHybrid 7 discretion reach America shores in Spring, 2010. outstandingly minimizing This symbiosis of an upgraded twin-turbo, High Precision Direct Injection, V8 apparatus with a 3-phase synchronous elec¬tric motor gives the BMW ActiveHybrid 7 a combined give way of 455 hp and most torque of 516 lb-ft (preliminary figures).

Power is transmitted via an 8-speed unplanned transportation with the worked up motor positioned between the apparatus and the torque converter. outstandingly minimizing Precisely controlled interaction of both power sources serves to embroider on the effectiveness and active deportment of the BMW ActiveHybrid 7. The worked up motor receives its provision of vim from a lithium-ion battery developed specifically after service in this automobile. The consequence is a unmatched driving discernment that demonstrates the deportment capabilities of mod compound technology.
Read more: 2010 BMW ActiveHybrid 7

BMW Introduces 30+ mpg 1 Series Coupes and 7 Series for UK Market

2009-08-14T23:43:00.000-07:00

Would you accept a 0-60 mph time that's 1.5 seconds slower for about 10 mpg more? That's a choice U.S. BMW enthusiasts might never have to make, as the automaker is introducing a 2.0L four-cylinder engine for the 1 Series coupe only in the U.K. market.

In the European combined cycle, the BMW 120i gets 42.8 mpg, or about 35.6 mpg converted to US standards. Compare that to the 21-22 mpg combined on the BMW 128i. The 120i scoots from 0-62 mph in 7.8 seconds with a manual transmission; a manual-equipped 128i does 0-60 mph in 6.1 seconds.

Series coupe can now be ordered with the 141-hp diesel engine producing 221 lb-ft of torque that helped the 5-door model become the 2008 World Green Car of the Year. As a coupe, the 118d accelerates from 0-62 mph in 9.0 seconds and, just as important, gets a U.S.-converted 52.3 mpg. On the same scale, the Toyota Prius gets 60.3 mpg.

The 7 Series can also be ordered with a diesel engine (abroad), too. The 740d's 3.0L twin-turbo six-cylinder 302-hp diesel helps the big sedan -- in standard wheelbase only -- do the 0-62 mph sprint in 6.3 seconds and get a U.S.-converted 34 mpg combined.

Elsewhere in the U.K. BMW lineup, the 6 Series' trim lines are shuffled and the M Sport package (pictured) can be ordered on any 7 Series.

Source: http://wot.motortrend.com/6569751/auto-news/bmw-introduces-30-mpg-1-series-coupes-and-7-seriesfor-uk-market/index.html

BMW X6 Hybrid to be world's most powerful gas-electric vehicle

2009-08-14T23:30:00.000-07:00

High performance hybrid – an oxymoron? Not according to BMW, which has two new hybrids scheduled for an unveiling at the upcoming Frankfurt Motor Show. One of those two vehicles, the ActiveHybrid X6, promises to be the most powerful hybrid vehicle ever offered for sale at 480 horsepower and 575 lb-ft of torque from its twin electric motors and 4.4-liter V8 engine combined.

The ActiveHybrid X6 will scoot to 60 in about 5.5 seconds while returning a 20-percent fuel mileage improvement over the standard X6 with its twin-turbo V8. To set the hybrid apart from its standard sibling, BMW will bestow the new fuel-saver with a power dome hood to clear the power electronics module and a bespoke metallic blue hue.

The fuel efficiency of the hybrid CUV is improved by about 20 percent on the EU test cycle with a CO2 rating of 231 g/km. The EPA numbers won't be available until closer to US launch late this year, but expect somewhere around 18 mpg combined (up from 15 on the current V8 X6). The full press release is after the jump.

source: http://green.autoblog.com/2009/08/12/officially-official-bmw-x6-hybrid-to-be-worlds-most-powerful/

BMW’s 2Q profit slides, dumps profit forecast

2009-08-13T17:14:00.000-07:00

FRANKFURT, Germany - Automaker BMW AG said today that its second-quarter profit slid nearly 33 percent and abandoned its annual profit forecast, blaming a drop in U.S. sales, rising costs for raw materials and the strong euro.

In a surprise announcement that sent its shares plummeting more than 10 percent, the world’s biggest maker of luxury cars, said it earned 507 million euros ($791.5 million) in the April-June period, down nearly 33 percent from the 753 million euros it earned last year.