2008 Mini Cooper S on 2040-cars

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BMW profit of $2.7B is down as automaker invests to keep luxury lead

Despite selling 6.6-percent more vehicles - a record by volume - and posting higher revenues in the second quarter of 2013, BMW Group's profit of 2.07 million euros ($2.75 billion) is down 8.8 percent from last year. Investments in new technology (e.g. the new i3) and personnel, in addition to a competitive market, are to blame, BMW states. But the automaker remains committed to its fiscal targets for 2013, which, Chairman of the Board of Management of BMW AG, Norbert Reithofer, says will be "on a similar scale to 2012."
The BMW brand's sales performance in the first half of the year, which increased by 7.7 percent to 804,258 vehicles delivered, was good enough for it to maintain its lead in the luxury market, narrowly beating Audi, which delivered 780,510 vehicles, Automotive News reports. Mercedes-Benz delivered 694,433 vehicles to cement third place.

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.

2016 Mini Cooper S Convertible First Drive

Is there a better place to launch a roofless Mini than Los Angeles in the middle of winter? Temperatures during the drive event for the new 2016 Mini Cooper S Convertible hovered in the mid-80s, and (a begrudging thanks to CARB here) there was only a thin haze to attenuate the sun. Moreover, the sprawled-out and uniquely Californian metropolis doesn't seem to hem in the longer, broader, ever so slightly taller Convertible. Even if you don't necessarily enjoy vehicles that inherently make a statement, driving a Cooper S Convertible around this style-conscious town at least attunes your sensibilities to the Mini norm. Since there isn't much mechanically or stylistically to differentiate the new Convertible from its Hardtop fraternal twin, we can cover the basics quickly. The exterior sheetmetal is, for better or worse, not much different. That means the large proboscis – a nod to pedestrian impact standards and a variety of other engineering and safety concerns – and longer rear overhang carry over. The jutting underbite and slightly walleyed headlight stance exaggerate how bulbous the front end has become with each subsequent generation. Taken in isolation, the Mini Convertible is still undeniably cute, but the English bulldog vibe is slowly being pushed out of the corporate design language as each new Mini is gently inflated. At some point, we'll hit the bursting point. The Mini Convertible is still undeniably cute, but the English bulldog vibe is slowly being pushed out of the corporate design language. Even in the space-compromised Mini Convertible, total cargo area increases by 25 percent to a useful 7.6 cubic feet maximum. The Easy-Load function, which props up the back edge of the soft top on a pair of spindly plastic struts, is a bit fussy but helps get awkward items in and out of the surprisingly deep cargo area. Smaller or soft luggage should go in without issue. Larger items might be better suited for the back seat. If you're buying a four-seat convertible, you should be prepared for these compromises ahead of time. Speaking of time, the top's operation is reasonably quick. It takes 18 seconds to raise or lower the top, at up to 18 mph. It was fast enough for a stoplight change to test out the situation with the lid on. If you've ever been in a last-generation Mini 'Vert, it's about the same – big blind spots mar the view, but it's remarkably quiet.