Classic 1985 Bmw 635csi E24 Shark! Rust-free Calif. Car + Body Kit! No Reserve! on 2040-cars

Auto blog

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.

Tesla only 8th greenest automaker, BMW is best, says Newsweek

We imagine some readers will be surprised by this. Newsweek has just put out its rankings for the top "green" companies in the world, and while Tesla Motors chief Elon Musk can crow about how green his electric vehicles are, the company as a whole apparently falls behind some traditional automakers. Quite a few of them, actually. In Newsweek's Global 500 list of the greenest 500 largest publicly-traded companies in the world, BMW ranked best among automakers at Number 26. Not surprisingly, Toyota was close behind at 35, while Nissan came in at 152. What's a little more puzzling is that Tesla fell behind Ford (178), and General Motors (289). That's a lot of pickups versus a few Model S EVs. Go figure. Then came Hyundai (306) and Honda (316), which are a little more palatable. Tesla? It came in at 431. Newsweek's measurement standards include eight categories that include a lot of verbiage and involve things like energy productivity (which is defined as revenue in US dollars divided by total energy consumption), greenhouse-gas emissions productivity (revenue divided by GHG emissions), water usage, waste levels and something called "green revenue" (revenue derived from products that "contribute positively" to the environment). Newsweek says that its results are reproducable by a third party. Take a look at the list here and find the details on how the numbers are compiled here. Featured Gallery 2014 BMW i3: First Drive View 33 Photos News Source: Newsweek via Torque News Green BMW Tesla

BMW 7 Series could get M variant alongside Alpina B7

BMW is launching the new 7 Series with a limited engine lineup, but according to Car and Driver, there are more powerful versions on the way – including a potential M Performance model. The new 7 Series is initially being offered with a 320-horsepower turbo six and a 445-hp twin-turbo V8. European customers will also be able to spec a 261-hp diesel or a 320-hp hybrid. There's an M Sport package available as well with enhanced visual cues, but that won't be the extent of the performance choices when all is said and done. Expect a new 760i that will pack BMW's twin-turbo V12, and a new Alpina B7 to feature a more powerful twin-turbo V8 with around 600 horsepower. In parallel to the Alpina, however, C/D reports that an M Performance model could finally be in the works, which would ostensibly offer BMW the opportunity to go after the likes of the Audi S8, Jaguar XJR, and Mercedes S63 AMG, without changing tacks too drastically over the resolute position it's taken in the past against creating a full-on M7. C/D reports that there are more powerful diesels joining the lineup in the future, but those aren't likely to make their way to US showrooms anytime soon.