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The Homer to contest 24 Hours of LeMons

It's finally happened. A 24 Hours of LeMons team has built the definitive interpretation of The Homer from The Simpsons for competition in an upcoming race. As you may recollect, The Homer is the fictional car designed by Homer Simpson for his brother's car company. Designed with a separate compartment for screaming children and other Homer-centric goodies, the animated machine bankrupted its parent company and put Homer's brother out of a job. Now we get to watch it race other crap cans as it tackles Southern California's Buttonwillow Raceway on June 29. Scott Chamberlain, Kris Linquist, Reid Conti, Ben Reilly and Mike Yepes will helm the machine, and Jeff Herman serves as the team's creative director.
The racer is the latest incarnation of a well-abused BMW 3 Series. The team campaigned the same E30 under the "Prickstine" banner as a Chrysler Imperial tribute and "Porcubimmer," the latter being a riff on the ever-popular joke about the difference between porcupines and BMW models. Never gets old. You can check out a video of the finished Homer below, and be sure to like the team on Facebook to see updates from the race. Now, about that Canyonero...

Is the BMW i8 actually already sold out?

The other day we brought you a report from Reuters, which quoted BMW's global sales chief Ian Robertson as saying that the Bavarian automaker had already sold out the entire year's production run of its new i8. Impressive, sure, but perhaps not all that unusual for a groundbreaking new sportscar from a major automaker, of which only limited quantities are typically built. But is the i8 really sold out?
Our compatriots at Car and Driver chased down the story and report that Robertson's claims aren't exactly accurate. According to C/D, the numbers are based on sales projections, not actual orders taken. So while BMW may build upwards of 1,900 i8 coupes next year and over 5,000 in 2015, and while they're all expected to sell, that doesn't mean that it's too late to get your order in. That is, assuming you have the $135k on hand and don't mind getting just three cylinders back in return.

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.