--
 
WATCH: Celebrating the iconic GTR

Wheels24 contributor Ferdi De Vos takes a look at the history of the Nissan Skyline GT-R, Japan's most iconic performance car.

First Lamborghini Aventador SVJ now in SA

The first Lamborghini Aventador SVJ has just been shipped into SA for a cool R9 695 000 and it's absolutely breathtaking.

Spending on future tech eats into BMW quarterly profit

2018-08-02 09:43

Image: Supplied

Luxury automaker BMW says that net profit fell 6% in the second quarter as the company spent more on developing new technologies for electric, autonomous and digitally connected automobiles.

Profit came in at €2.08-billion, down from €2.22-billion in the year-earlier quarter. Revenues fell 2.9% to €25.02-billion.

The company said Thursday it spent €2.61 billion on research and development over the first six months of the year, up 13.6% from a year earlier. It underlined its push into electric vehicles, saying Thursday that it has sold 61 000 so far this year, an increase of 42%.

The company also took steps during the quarter to expand its lucrative business in China, agreeing to expand its joint venture with Brilliance Automotive.

NEXT ON WHEELS24X
Read more on:    bmw  |  germany  |  industry news

There are new stories on the homepage. Click here to see them.