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Mini sells 500,000th car in US

Mini has officially sold 500,000 vehicles in the United States. The achievement came just a few days after the company commemorated its 11th anniversary in America. When the automaker first opened its doors to US buyers in 2002, it sold just 24,590 unis. Last year, the automaker moved 66,123 vehicles thanks in part to an expanded lineup that now includes the Clubman, Countryman, Coupe, Roadster and Paceman in addition to the stalwart Hardtop and Convertible. The company plans to have some 130 dealerships nationwide by the end of 2013; there are currently 116 Mini dealers in the US.
Mini helped reignite an interest in small cars with plenty of personality when it debuted the Cooper 11 years ago. The move helped pave the way for machines like the Fiat 500, Ford Fiesta and Chevrolet Sonic. Check out the quick press release on the 500,000th Mini model below.

Mini reveals refreshed Paceman in Beijing

It was just a few days ago that Mini unveiled its refreshed Countryman at the New York Auto Show, and now it has followed up with the revised version of that model's coupe counterpart, the Paceman. Revealed today at the Beijing Motor Show, the new Paceman adopts all the changes applied to the new Countryman - which is to say, not a whole lot, but maybe enough to keep it current for the masses of customers in the market for a three-door version of a vehicle that's bigger than its stablemates but smaller than most other crossovers.
Pictured here in Piano Black (one of three new shades on offer alongside Midnight Grey and the Jungle Green in which the new Countryman was featured), the mildly refreshed Paceman has, like its five-door counterpart, been so subtly updated that we can scarcely tell the difference... even after sorting through the press release below. There are some minor revisions to the exterior, the cabin features slightly updated equipment, and the Cooper S gets an extra few horsepower. And that's about all she wrote, folks.
Mini will offer the updated Paceman worldwide with a wide array of four-cylinder engine options. With no budget-oriented One model, the Cooper is the base model with a 122-horsepower version of the brand's ubiquitous 1.4-liter four and the John Cooper Works sits at the top of the range with 218 hp. The two diesel specs are present as well, and buyers cam choose (on most models) between front- and All4 all-wheel drive.

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.