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BMW Pursues Daimler in Making Car-Sharing Operations Profitable

Bayerische Motoren Werke AG plans to earn the first profit in 2013 from a two-year-old venture that rents cars by the minute, potentially overtaking Daimler AG in a push to make efforts to woo urban consumers pay off.

DriveNow GmbH, BMW’s car-sharing venture with rental company Sixt AG, will limit expansion to focus on making money, Andreas Schaaf, the partnership’s managing director, said yesterday. After setting up in four cities in Germany since its May 2011 start, DriveNow is looking to add a location in the country and another elsewhere in Europe in 2013.