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Driving a 1988 BMW M5 and the 2022 Volvo C40 Recharge | Autoblog Podcast #722

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Road Test Editor Zac Palmer. Some cars old and new here, with reviews of the 1988 BMW M5, 2022 Volvo C40 Recharge and 2021 Hyundai Palisade. In the news, Maserati revealed the 2023 Grecale SUV with a 523-hp twin-turbo V6. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #722 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving 1988 BMW M5 2022 Volvo C40 Recharge Long-term 2021 Hyundai Palisade 2023 Maserati Grecale revealed Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: Volvo introduces 2022 C40 Recharge crossover

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.

BMW i3 REx rated at 117 MPGe, 39 mpg with 72-mile EV range

The numbers haven't made their digital way to the EPA's website yet, but we can now confirm that the BMW i3 with range extender will be officially rated at a combined 117 MPGe with 39 mpg once the battery runs out. That puts the amazing little city car just ahead of the pure-electric Fiat 500e (116 MPGE, combined) and behind the Honda Fit EV (118) and the Chevy Spark EV (119). In the plug-in hybrid category, it's at the top of the class, beating out the Honda Accord PHEV, which is rated at 115 MPGe but is also a much bigger vehicle. The i3 REx also has an official all-electric range of 72 miles and can go another 78 on gas (for a total of 150). When it's not carrying around the extra fuel tank and engine, the all-electric i3 gets 124 MPGe (combined), which is the currently the highest in the US. The i3 EV also has an all-electric range of 81 miles. BMW expects to deliver the first i3 REx in the US this week and delivered the first all-electric version earlier this month. There was a bit of a hold-up on the range-extender version thanks to a delay with getting these EPA numbers. Now that all the bureaucratic boxes have been checked, it's off to customer driveways they go.