1 Owner - Awd - Premium Package - Panoramic Sunroof - 6 Speed Stick! 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.

Mini celebrates its first Monte-Carlo victory with Paddy Hopkirk Edition

Mini's newest special-edition model is a tribute to a victory that was as unexpected as it was significant. Northern Irish pilot Paddy Hopkirk won the 1964 edition of the Monte-Carlo Rally in a Cooper S, impressively beating far more powerful cars, and the two-door 2021 Hardtop Cooper S Paddy Hopkirk Edition celebrates this victory. Fittingly, every Paddy Hopkirk Edition is finished in Chili Red with a white roof, a combination that echoes Hopkirk's 1964 model (pictured below). 37 decals on both doors create another visual link between 2020 and 1964. Mini also added 17-inch alloy wheels, black trim all around, and a white hood stripe that served as a blank canvas. Look closely: it features 33 EJB graphics (the winning car's registration number) and Hopkirk's signature.  His signature also appears on the hatch, on the sill plates, and on the right side of the dashboard. LED headlights, keyless entry, black interior trim, and a leather-wrapped three-spoke steering wheel come standard. There are no mechanical modifications, meaning the Paddy Hopkirk edition is powered by a turbocharged, 2.0-liter four-cylinder that delivers 189 horsepower and 207 lb-ft of torque. It spins the front wheels via a six-speed manual transmission, though a seven-speed dual-clutch automatic gearbox is offered at an extra cost. Mini dealers across the United States will begin receiving the Cooper S Paddy Hopkirk Edition in November 2020. It's one of two special-edition models joining the range for 2021; the second is the heritage-laced Coral Red Edition. Pricing hasn't been released yet. "Production is planned for November and December of this year," said a Mini spokesperson, "with a very limited number expected for the U.S. market. Only a few hundred." Victorious past Sir Alec Issigonis envisioned the original Mini as a practical, budget-friendly alternative to bubble cars, not as a rally-dominating machine, but the pocket-sized four-seater quickly proved its mettle on the track. Accomplished engineer John Cooper built the first Mini Cooper in 1959, the year the standard model was released in England, though it was a one-off prototype. Bolstered by a ballooning aftermarket scene, even amateur enthusiasts experimented with ways to extract more power out of the small four-cylinder and fine-tune the car's handling. It took less than a decade for the Mini to become a force to reckon with at races on both sides of the Atlantic.

Mini Cooper five-door exists and has been spotted

The two-door Mini Cooper is getting two additional portals in its next generation. A coming five-door Cooper S with central exhaust has been spotted out testing, the idea presumably being that it will pose a better challenge to other small, premium hatches in the segment like the A1 Sportback from Audi. Based on the same UKL platform that will support the production version of the BMW Concept Active Tourer, the wheelbase has been lengthened to make more room for rear passengers.
It should be revealed on the auto show circuit at some point next year, getting buyers ready for its production in 2014. We'll find out then if it gets a special name and how it fits in with - or perhaps replaces - the Clubman.