1974 Rolls Royce Corniche Coupe 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.

On this Rolls Ghost, diamonds are forever in the paint

Diamonds, the hardest rocks in the world, are found in everything from jewelry to tools – and now automotive paint. Rolls-Royce, a company happy to help paying customers indulge in one-of-a-kind, specially customized cars, has produced a long-wheelbase Ghost with a paint job featuring 1,000 crushed diamonds. It's called "Elegance," which seems like a pretty fitting name. One thing is for sure, the paint is dazzling in these photos. So the two months Rolls-Royce spent testing diamond paint finishes seem to have paid off. The rest of the car is a bit more run-of-the-mill Rolls-Royce, which is to say still pretty custom. It has hand-painted coachlines in red and black along the flanks, and the 21-inch wheels have matching red pinstripes. The color scheme is continued inside. Up front, everything is black, from the leather seats to the wool carpets. The sea of black is punctuated by red stitching and piping on the seats, as well as open-pore oak wood trim on the dash. In the back, the seats are a lighter gray leather with the same red stitching and piping. Our favorite part, though, is the plaid upholstery that lines the space in the front seats into which the rear tray tables fold. The car will be on display at the Geneva Motor Show alongside a few other older Rolls-Royce Bespoke models. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Rolls-Royce releases sketch of Phantom Drophead Coupe Bespoke Waterspeed Collection

A limited-edition Rolls-Royce Phantom is something of an oxymoron. The company only sold 3,630 cars last year, and even fewer of those were its flagship Phantom. However, that isn't keeping the company from regularly revealing even more limited editions of its already hyper-exclusive cars. This is precisely the case with the new Phantom Drophead Coupé Bespoke Waterspeed Collection, a forthcoming model limited to 35 examples.
The special models are inspired by a famous speedboat race on September 1, 1937, between the United States and Great Britain on Lake Maggiore on the Swiss-Italian border. The British fielded the Bluebird K3 hydroplane boat powered by a massive supercharged V12 Rolls-Royce R-Type engine with Sir Malcolm Campbell at the helm. All that displacement shot the sleek watercraft to 129.5 miles per hour, claiming a new world waterspeed record in the process.
For the special commemorative Drophead Coupé model that celebrates "a seminal act of British daring and endeavor," Rolls-Royce is finishing the convertible in Maggiore Blue paint with a brushed steel hood and tonneau cover, along with inlaid wood trim. Rolls is not announcing an official release date or price for the special cars yet, but they are going on sale before the end of the year. Scroll down for the whole story about the car's inspiration.