2008 Mini Cooper S Clubman Wagon 3-door 1.6l on 2040-cars

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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 Minor to be co-developed with Toyota

It was back in 2011 when Mini first showcased the prospect of an even smaller hatchback with the Rocketman concept at the Geneva Motor Show. In the nearly four years since, parent company BMW has hemmed and hawed on the possibility of putting it into production, but the latest word from Europe has it that the project is a go. According to Automobile magazine, Mini is realigning its product portfolio into five pillars: the essential hardtop we've already seen (available in two/three- and four/five-doors), the convertible, the upcoming new Clubman wagon (coming this summer with full-size auxiliary suicide doors on both sides), the next-gen Countryman crossover in 2016 and two new model lines. One will be the production version of the Superleggera roadster concept, earmarked for 2018. The other will be the Minor, a smaller city car reviving a long-gone model name and presaged by the aforementioned Rocketman concept. But for that last one, Mini won't go it alone. To develop the mini Mini, BMW will reportedly turn to its partnership with Toyota. The relationship is already set to yield a new Supra and Z4 and share fuel cell and other technologies. But this would broaden the partnership to include a small hatchback. However rather than use the existing (or next-gen) Aygo, which is already built under joint venture with PSA Peugeot Citroen (with which BMW previously had a joint engine venture), word has it that the BMW and Toyota will develop a new platform for the project – one that will be used by both partners. The new product plan doesn't leave much room for the Mini Coupe and Roadster (which have already been discontinued), for the Paceman three-door crossover (which will suffer the same fate) or for the projected seven-seater minivan. But the addition of the new Superleggera roadster and super-mini Mini aren't likely to leave us wanting for either. Related Video:

2016 John Cooper Works Clubman is torquiest Mini ever

Mini fancies its latest Clubman as more an executive car than a typical premium compact. Think BMW 5 Series to the regular Hardtop's 3 Series. With that in mind, you can think of the new John Cooper Works Clubman as a Mini M5 of sorts. The new JCW Clubman boasts a number of features not offered on its little brothers. Mini engineers are squeezing 228 horsepower out of the 2.0-liter, turbocharged four-cylinder, just like on the Hardtop model. But the bigger John Cooper Works gets a significant bump in torque, up from 236 pound-feet of torque to a more robust 258 lb-ft. And with a standard All4 all-wheel-drive system, the JCW Clubman maximizes the ability to deploy that extra power. View 15 Photos Regardless of transmission, the new Works model hits 60 in 6.0 seconds and runs up to 147 miles per hour, 0.9 seconds quicker and five miles per hour faster than the S model we drove last year. A sportier suspension, meanwhile, drops the ride height 0.4 inches, so expect at least slightly better handling from Mini's newest Works model. Exclusive two-piece sport seats should keep drivers in place while exercising the newfound handling ability. But beyond the extra power, all-wheel drive, upgraded suspension, and neat seats, the JCW Clubman is largely a mishmash of parts we know and like. It uses the same standard six-speed manual and optional eight-speed automatic as the regular car, while the polarizing six-doored body wears the usual JCW tinsel – 18-inch wheels and a more aggressive body kit that promises better engine and brake cooling. And it still has a weight problem – the new car weighs in just under 3,500 pounds to the standard car's 3,300-pound curb weight. Mini hasn't published pricing, but if the trend set by the Hardtop and Convertible continues, we'd wager the new JCW will start around $35,500, tacking $6,000 onto the S model's $29,450. Well, at least Mini has the executive-level pricing down. The John Cooper Works Clubman should hit US dealers in December. Related Video: Related Gallery 2016 Mini John Cooper Works Clubman View 18 Photos News Source: MiniImage Credit: Live photos copyright 2016 Drew Phillips / AOL MINI Wagon Luxury Performance mini clubman