BMW CEO Says It's Not Buying Aston Martin

Luxury automaker BMW AG said Thursday that its third-quarter profit slipped 0.7 percent, missing market expectations, because it had to pay higher taxes and retooled its lineup of car models.

However, the company said it was optimistic about achieving its goal of a pretax profit of 4 billion euros ($5.1 billion) in 2006, along with record sales.

Later Thursday, BMW Chief Executive Norbert Reithofer said the German automaker has no interest in buying the iconic Aston Martin brand. Ford Motor Co. has put up for sale the famed English maker of sleek and expensive cars.

"We are a focused company and we want to stay a focused company. We're not interested," he said during a conference call with analysts.

Munich-based BMW earned 452 million euros ($577 million) in the July-September period, down from 455 million euros a year earlier. Analysts polled by Dow Jones Newswires had expected a profit of 470 million euros ($600 million).

Sales fell 1.4 percent to 11.56 billion euros ($14.75 billion) from 11.72 billion euros.

The company's pretax profit was up 9.4 percent to 720 million euros ($918.9 million) from 658 million euros, helped in part by a one-time gain from a settlement on an exchangeable bond on shares in Rolls-Royce PLC.



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EL34i - 11/3/2006 10:35:59 AM

-6 Boost

Astin Martin would take design cues from another high end luxury brand: Buick.

vdiv - 11/3/2006 11:27:57 AM

-1 Boost

so $4 billion a year is about a billion a quarter, 0.7% of a billion is $7 million... damn! if only i got that premium package... ;)

matt635 - 11/3/2006 11:37:45 AM

-1 Boost

On the one hand I would like BMW to be buying Aston, because I love BMW's and the only other car I would consider buying (if i had the money) would be an Aston.

On the other hand... I'd rather BMW developed their own range of cars to compete. The M6 is the closest BMW have, and it's not that close!

Agent63 - 11/3/2006 5:07:27 PM

+1 Boost

Wow if BMW AG did purchase Aston, they would have two of Britain's premiere brands.. Imagine they bought Jaguar as well!.

S4cabriofox - 11/4/2006 12:13:19 AM

0 Boost

They wouldn't. Jaguar and BMW are slightly indirect, but still main, competitors.

I could see VAG buying Aston, as they so enjoy buying out high-profile brands, but I don't see where it would be going, because that's not realistically happening.

synx - 11/3/2006 6:20:25 PM

+1 Boost

that's a big shame. bmw is the only company that i could see managing aston martin properly. too bad. i just hope that VAG doesn't buy AM.

S4cabriofox - 11/4/2006 12:14:09 AM

0 Boost

Why not? They've saved Bentley, they've saved Bugatti, and they've saved Lamborghini- all have amazing new products. I don't think they'd have some kind of spontaneous bad streak with AM.

MPower - 11/3/2006 7:23:33 PM

0 Boost

Imagine Aston with a BMW engine. Damn... Aston will be just as good as Ferraris and Lambos, with the best engine in the world.

-2006 World Engine Of The World-
BMW M5/M6

S4cabriofox - 11/4/2006 12:15:10 AM

+1 Boost

"Imagine Aston with a BMW engine. Damn... Aston will be just as good as Ferraris and Lambos, with the best engine in the world. "

Well, AM engines are already pretty good... I don't think the BMW V12 is enough for the Phantom. It weighs more than a Range Rover, and 440hp isn't enough. The 550hp Flying Spur outguns it with ease.

MPower - 11/3/2006 7:24:26 PM

+1 Boost

2006 World Engine Of The Year. Sorry Typo.

S4cabriofox - 11/5/2006 1:50:15 AM

+1 Boost

"The Rolls is luxury while the Bentley is the sports car/lux, with enphasis on sport than lux."

The pretenses for both is luxury; Bentley just has some "sport" thrown in for good measure, while Rolls doesn't bother.

AmazingBimmer - 11/4/2006 4:29:15 PM

+1 Boost

s4, your idiocy is apparent with every post. The bentley engine turnocharged. the BMW v12 is the class of the field. ask mc;aren, who chose the bmw engine to put in the F1, inspite of its relationship with mercedes. It is widely known that Porsche/ bmw make th ebest engines.. without question. your VW engine is a generation or 2 behind.

S4cabriofox - 11/5/2006 1:49:05 AM

+1 Boost

"the BMW v12 is the class of the field."

Hmm... oh, definitely. The BMW badge says it all- let's trumpet our achievement! Lowest horsepower rating in class! Go BMW!

438hp (760Li) < 450hp (A8L W12) < 510hp (S600)

Turbos or not, it's still a more innovative, efficient, and overall more fun engine.

AmazingBimmer - 11/5/2006 9:12:53 AM

+1 Boost

hahaha, and the badge does say it all

AmazingBimmer - 11/5/2006 9:17:52 AM

+1 Boost

fun engine?.. how so? this is the same one in the phaeton? what a joke. Back to the topic.. bmw does not need aston.. with the 6 series, z9, etc coming on line. i do like aston a lot though..styling is sublime

S4cabriofox - 11/5/2006 2:16:35 PM

+1 Boost

"fun engine?.. how so? this is the same one in the phaeton? what a joke."

Well, for one thing, it has twelve cylinders and 450hp... so how can it not be fun?

Yes, it is in the Phaeton- a very cool luxury car. It's also in several Bentleys, an Audi and is related to the fastest car in the world's W16. Eat it.

S4cabriofox - 11/5/2006 2:18:39 PM

+1 Boost

430lb ft of torque for the A8L, 440lb ft of torque for the 760Li. However, the A8 is still quicker, because it weighs about 250lbs less.

S4cabriofox - 11/5/2006 2:19:50 PM

+1 Boost

This is what I love about Audi. From edmunds.com's Insideline:

"Audi does things differently — always has. If BMW and Mercedes-Benz zig, Audi zags, usually for the better. This time the zag takes the form of a unique engine design. The top-of-the-line BMW 7 Series and Mercedes-Benz S-Class sport V12 engines. So what does Audi do? It designs a W12."

S4cabriofox - 11/5/2006 2:21:00 PM

+1 Boost

And, comparing the 760Li to the A8L W12, in the same article...

"The normally aspirated 6.0-liter V12 in the BMW 760Li is a pussycat by comparison. It's rated at only 438 hp at 6,000 rpm and 444 lb-ft of torque at 3,950 rpm. "