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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.

Mini battling sales slump again, is it becoming cliche?

Things aren't looking good for Mini this year. The diminutive BMW brand has shown falling sales every month in 2014 in our By the Numbers wrap-ups. If that weren't bad enough, the latest Cooper Hardtop suffered fuel economy issues upon arriving to the US. First, there was a delay getting some versions certified, and then several models had to have their miles-per-gallon ratings revised.
According to Automotive News, the brand's sales are down about 20 percent for the year through October, despite hitting a record 66,502 vehicles in the US for 2013. For their part, Mini execs attribute much of that drop due to constricted supply. However, with the new-generation three-door Cooper finally on sale and the five-door coming at the end of the year, there might be room to bounce back some in the final months of 2014. "We are starting to claw back our way a little bit. It will be an uphill battle," said David Duncan, vice president of Mini of the Americas, to Automotive News. "We will not get back to where we would be even year over year. It should be a lower decrease than it is so far."
AutoTrader Senior Analyst Michelle Krebs reminds Autoblog that external factors aren't helping the brand's sales either. For one, there's "a direct correlation exists between falling gas prices and lower small car sales," she said, and the average price per gallon is now $2.94, according to the US Energy Information Administration. Also, the booming popularity of small crossovers is eating into the compact car market. Mini has its Countryman model, but the trend could be hurting the rest of its lineup. "Mini was fresh, new, unique and stylish, but fashions change and fashion-conscious buyers are fickle. They move on to the next thing," Krebs said.

Mini recalls select 2015 Cooper Hardtops over seats

The new Mini Cooper Hardtop only recently reached the market, but already BMW is having to recall a limited number of the hatchbacks. The problem revolves around the front seats, whose adjustment mechanism may not fully lock into place. In the event of an accident, that could lead to the seatback folding unexpectedly, which carries with it an increased risk of injury for the driver and front passenger. The issue only affects the new 2015 Mini Cooper, specifically two-door Hardtop models manufactured in the short window between August 12 and September 2, 2014. That amounts to only 846 units, according to the notice posted by the National Highway Traffic Safety Administration, which you can read below. Owners of the affected vehicles will be notified to bring their Minis into their local dealership to have the seatback adjustment mechanisms realligned and tightened to remedy the problem. RECALL Subject : Seatback may Fold in Rear Impact Crash Report Receipt Date: NOV 10, 2014 NHTSA Campaign Number: 14V721000 Component(s): SEATS Potential Number of Units Affected: 846 Manufacturer: BMW of North America, LLC SUMMARY: BMW of North America, LLC (BMW) is recalling certain model year 2015 MINI Cooper Hardtop 2 Door vehicles manufactured August 12, 2014, to September 2, 2014. In the affected vehicles, the driver and front passenger seatback adjustment mechanism may not be fully engaged. CONSEQUENCE: If the seatback adjustment mechanism is not fully engaged, the seatback may fold during a rear impact collision, increasing the risk of injury to the seat occupant. REMEDY: MINI will notify owners, and dealers will re-align and re-tighten the seatback adjustment mechanisms, free of charge. The recall is expected to begin in December 2014. Owners can contact MINI customer service at 1-866-825-1525. NOTES: Owners may also contact the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153), or go to www.safercar.gov.