Car

BMW plunges to second-quarter EBIT loss as coronavirus pandemic hits car sales

FRANKFURT (Reuters) – BMW on Wednesday said it expected to post an operating profit for the full year despite coronavirus lockdowns pushing the carmaker to a second-quarter operating loss as deliveries of luxury cars fell by 25% during the period.

The Munich-based carmaker said it swung to a 666 million euro ($786 million) loss before interest and taxes in the quarter ending in June, down from a 2.2 billion euro operating profit in the year-earlier quarter.

The earnings before interest and taxes (EBIT) margin in the company’s automotive segment was pushed to a negative 10.4% in the quarter, slumping from 6.5% in the second quarter last year, as BMW ramped up expensive electric car technology investments.

Car sales have begun to recover in some markets, including in China, leading BMW to expect its core business to return a profit, but the rebound will not be enough to make up the

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Buying a Car That Comes from Canada Sounds Fun, Until There’s a Recall

From Car and Driver

  • Local TV station KEYT in California helped the owner of a Mercedes C63 AMG S, which originated in Canada, get needed recall work done.
  • At first, the owner was told the dealer wouldn’t touch the recall work, since the car has a Canadian VIN, and that he should take it to Canada for service.
  • The Mercedes dealer did update the car’s software in the end, but this dilemma points out that gray-market vehicles can cause their owners some red tape.

Importing a car means bringing roughly equal amounts of excitement and challenge across the border. When the car in question is a Canadian 2015 Mercedes-Benz C63 AMG S, or any other car that originated in Canada and is being brought into the United States, it might come with enough automotive cooties that your local dealer may be hesitant to work on it.

That’s what happened

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Cadillac XLR: The Turnaround Sports Car

⚡️ Read the full article on Motorious

Learn more about this often misunderstood Caddy.

Made for only six model years from 2004 to 2009, the Cadillac XLR didn’t make the kind of market impact which GM hoped for. That’s become too much of a trend in the Cadillac division, so skeptics of the brand weren’t shocked in the least. However, that’s only one narrow view of a sports car which actually spearheaded the modern revolution of the Cadillac brand.

Photo credit: General Motors

After WWII Cadillac was riding high as one of the most coveted luxury car brands in the world. It led the way in design, innovations, and overall classiness. That all changed when the 1970s oil crisis hit and those big land barge sedans and coupes were no longer smiled upon. Many blame GM CEO Roger Smith for dooming Cadillac in the 80s by essentially

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Classic Car Procession Celebrates Lifelong Enthusiast

⚡️ Read the full article on Motorious

Probably how every classic car lover would like to go.

Over his lifetime, it’s estimated that Phil Deegan owned 150 cars, and his home in Mankato, Minnesota is said to have always displayed an assortment of classic cars and trucks. So it makes total sense that after Deegan passed away on July 14, 2020, his funeral procession would be a rolling tribute to the automotive enthusiast. At the funeral service, a group of classic cars and trucks lined the church’s parking, and this was followed by a procession of classic vehicles to the cemetery including a 1964-66 Chevy C10 that carried his coffin in the cargo bed.

Image Credit: KEYC News

In a video report from KEYC News, Deegan’s son Dan said that his father “loved anything with wheels on it and anything with a motor in it,” while his obituary

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