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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.

Guerlain Chicherit going for world record for longest car jump

Does the name Guerlain Chicherit ring any bells? It definitely should if you're into competitive skiing, as he was crowned world champion in off-trail freeriding four times. But he's also a rally driver, winning the FIA Cross Country Rally World Cup in 2009 and even a stage of the Dakar Rally the following year. What really set him apart, though, was when he back-flipped a Mini Countryman rally car to set a world record last year. And now he's after another.
This time he's going after the world record for the longest ramp jump in a car. The record currently belongs to Tanner Foust at 332 feet, but Chicherit plans to break it by a good thirty more with a targeted distance of 360 feet.
He'll be using the Mini once again, sponsored by Monster Energy and Toyo Tires, and specially modified for the endeavor which he plans to undertake this Sunday under the auspices of Guinness World Record officials. We'll be watching to see how it all goes down.

BMW's new strategy: Electric everything

Mercedes isn't the only car maker determined to beat Tesla before it gets huge. Sources speaking to German business daily Handelsblatt claim that BMW is in the midst of planning an executive shuffle that will also include a big shift in its electric vehicle strategy. While the company would still offer ground-up EV designs like the i3, the new strategy would greenlight electric versions of some of BMW's most important vehicles, including the 3-series sedan, X4 crossover, and iconic Mini. If the leak is accurate, management is likely to approve the change at the end of September. We've asked BMW for its take on the report, although it declined to comment to Handelsblatt. It wouldn't be shocking to see the Munich crew change tack, though. While Tesla has received hundreds of thousands of Model 3 pre-orders, i3 sales dropped in 2016 – the upscale (if oddly-shaped) EV just isn't as hot as it once was. If BMW electrifies some of its most popular cars, you wouldn't have to choose between a super-efficient, eco-friendly EV and the familiar designs of the brand's mainstream driving machines.The story originally appeared on Engadget, your guide to this connected life.Related Video: Featured Gallery Mini Vision Next 100 Concept View 38 Photos Green BMW MINI Electric Hybrid engadget