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BMW looking to save billions with cost cuts

BMW is planning a fairly extensive overhaul in a bid to recoup some its annual costs, with CEO Norbert Reithofer (pictured above) aiming to save three to four billion euro ($4 to $5.4 billion) per year to help keep the company's profit margins between eight and 10 percent, while also maintaining investments in production expansion and new tech. BMW's profit margins sat at 9.4 percent in 2013.
According to Automotive News Europe, Reithofer is none too pleased about costs at Mini and on the 1 Series, although neither AN nor its source story, from Germany's Manager Magazin, elaborate on what steps could be taken to improve losses on either project. That makes it hard to figure out just where the fat will be trimmed from.
What may happen, though, is that BMW attempts to trim 100 million euros ($135 million) from its German labor costs each year; a solution hinted at a few weeks ago by Germany newspaper Muenchner Merkur. While a dramatic cost reduction, 100 million euros still doesn't begin to even approach the savings envisioned by Reithofer.

BMW hires Ferrari chief engineer Fedeli

There's going to be a little bit more Prancing Horse in some future BMWs because the Bavarian brand is hiring Ferrari chief engineer Roberto Fedeli to join the company in November. Fedeli's new position is still somewhat of a mystery though, and he reportedly might be lending his talents to the high performance M division or possibly even Rolls-Royce. When asked by Automotive News Europe, BMW said that it "currently can't say what his role will be."
Regardless of his new job, Fedeli was a big get for BMW because of his strong résumé. He has been with Ferrari since 1988 and led the engineering for the famous Italian automaker's vehicles since 2007. Fedeli tendered his resignation in September at around the same time that chairman Luca di Montezemolo announced his decision to leave the company. However, Ferrari told ANE that there was no connection between the two events.

BMW revisits its 8 Series

So why would BMW choose July 2 to release a retrospective on the 8 Series? Could it have something to do with the recent unveiling of the Pininfarina Gran Lusso Coupe concept, another sleek, B-pillarless V12 two-door, at this year's Villa d'Este? We have no idea, but the timing is likely coincidental.
This three-minute look at the 8 Series talks to Niels Hamann, who was smitten with the long-hooded coupe when it appeared in 1989 and finally bought one in 2004. Hamann also happens to be a project manager at BMW, and that came in handy when he wrote a book detailing every aspect of what was BMW's flagship for ten years but to the chagrin of many only managed one generation.
While we wait for the next clue about the Gran Lusso - 8 Series connection, check out the video below.