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BMW may keep next 1 Series out of the US

As BMW prepares to introduce the all-new 2 Series coupe and convertible, the 1 Series name definitely won't be going away. We know new sedan and hatchback models are in the works; including the GT shown above. According to Car and Driver, though, the future of the 1 Series nameplate in the US could be dependent on rival premium small cars like the Mercedes-Benz CLA-Class and Audi A3.
In an interview with C/D, BMW's North American head of product planning and strategy, Paul Ferraiolo, said that pricing might be the biggest deterrent to offering the third-gen 1 Series in the US. As he points out, BMW currently prices the 1 not too far from the 3 Series, but Mercedes-Benz and Audi will have their new small cars priced well below the $30,000 mark. BMW's Mini brand will also factor into the consideration since the 1 GT will share its underpinnings with the next-gen Cooper lineup.

Recharge Wrap-up: Hyundai/Kia fined $755M for exaggerated MPG ratings; BMW dealers want more i8s

The fine against Hyundai and Kia has grown to $755 million for overstating fuel economy ratings. $360 million of that fine comes from the EPA for violation of the Clean Air Act: $100 million is a civil penalty, $210 million is a forfeiture of greenhouse gas credits and another $50 million will pay for independent fuel economy audits on future models. The remaining $395 million is a settlement for customers who purchased the affected vehicles. A slew of 2011 to 2013 models were found to have fuel economy ratings overstated by one to six miles per gallon. Customers will be awarded funds to offset the unexpected fuel costs or to put toward a new Hyundai or Kia vehicle. Read more at Hybrid Cars. BMW dealers are awaiting details on new dealership standards - and BMW i8 models for their showroom floors. According to BMW National Dealer Forum Chairman Steve Late, BMW dealers are anxiously waiting to see what sort of updates they'll need to do to get in line with BMW's Future Retail 2016 program. As for the new EVs, Late says that the BMW i3 sales were slow to start, but that once people learned more about it, "wham, bam, it is taking off." The i8 shortage is a bigger problem: "I was allocated three for 2014, and I have a waiting list of 47 people. This year, maybe I will get eight or 10, and I still won't be able to fulfill them." Still, Late says he won't sell the cars at an upcharge. Read more at Automotive News. Opel is reportedly planning an electric version of its Karl hatchback. According to German automotive magazine Autobild, Opel will begin selling the diminutive Karl EV by the end of 2018. The electric car will offer a driving range of about 93 miles. The gasoline-powered version is expected to begin deliveries this June. Read more at Automotive News Europe. PSA Peugeot Citroen says it will keep its Hybrid Air program alive as it looks for a cost-sharing partner. Hybrid Air technology uses a compressed air hybrid system to improve fuel economy as we saw in the Peugeot 208 Hybrid Air concept. A French newspaper reported that Hybrid Air won't make it to commercialization, and that the program's team of engineers has been reduced. A PSA spokesperson confirms the change to the program, saying, "We are now waiting for another partner to help us begin the production stage." Read more at Automotive News Europe. Related Video:

BMW warns profits will fall, plans $13.6 billion in cost-cutting

FRANKFURT, Germany — BMW said Wednesday that profits in 2019 will be "well below" last year's, and it will cut 12 billion euros ($13.6 billion) in costs by the end of 2022 to offset spending on new technology. The company said profits would be eroded by higher raw materials prices, the costs of compliance with tougher emissions requirements and unfavorable shifts in currency exchange rates. The Munich-based automaker also faces increased uncertainty due to international trade conflicts that could lead to higher tariffs. "Depending on how conditions develop, our guidance may be subject to additional risks; in particular, the risk of a no-deal Brexit and ongoing developments in international trade policy," said Chief Financial Officer Nicolas Peter. The company forecast a profit margin of 6 to 8 percent for its automotive business, short of the long-term strategic target of 8 to 10 percent, which it said still "remains the ambition" for the company if given "a stable business environment." BMW said it had no plans for layoffs even as it outlined cost saving measures that include dropping half of its engine variants as it seeks to reduce product complexity. The BMW, Mini and Rolls-Royce brands are to get a single sales division. Peter said that given the headwinds to earnings, "we began to introduce countermeasures at an early stage and have taken a number of far-reaching decisions." The company said the measures were needed "to offset the ongoing high level of upfront expenditure required to embrace the mobility of the future." Automakers around the world have faced heavy up-front costs for technology expected to change how people get from one place to another in the next decade. Those include electric cars and renting cars through smartphone apps. Yet the returns from such investments remain uncertain and auto companies face competition from tech firms such as Uber and Waymo. BMW made 7.2 billion euros ($8.2 billion) in net profit last year, down 17 percent from 2017, when it booked a gain of $1 billion from U.S. tax changes. The company faced headwinds from increased tariffs on vehicles exported to China from the United States. It also suffered from turmoil on the German auto market when companies faced bottlenecks getting cars certified for new emissions rules. BMW faces uncertainty from U.S.-China trade tensions that could result in new tariffs if talks do not result in an agreement. U.S.