2022 Rolls-royce Cullinan on 2040-cars

Auto blog

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.

Rolls-Royce rolls out special Al-Adiyat edition in the Middle East

Rolls-Royce regularly makes special editions for one market or another. And lets face it: most of them are in the Middle East, or more specifically along the Persian Gulf. But their names don't always translate well to English, even for an English automaker. The last one, for example, was characterized as a Mysore. And this latest one is for Adiyats. Al-Adiyat is actually what this latest special run of Rolls-Royces are called, taking its name from the Arabic word describing the sound hoofs make when they hit the ground. It's a limited edition of just ten coupes, including nine Wraiths and the one and only Phantom Coupe you see here. The collection takes its inspiration from horses, "with motifs of reigns and horses, while gold-plated horseshoe stamps make a striking statement upon the clock and treadplates." The look is completed (on the Phantom at least) with a bright red paintjob that continues inside with red leather, carpets and headliner. In short, it's not for subtle tastes, but we don't doubt that Rolls will sell each and every one, assuming it hasn't already.

Rolls-Royce Cullinan test car takes the wheel — from a BMW 3 Series

The biggest, baddest Rolls-Royce will soon be here. We've seen spy shots the new Cullinan for months, but this is our first look at the SUV's interior. Though much of it is still covered, we can make out a few details hiding beneath the surface. There's no word on when the new Rolls will hit the streets, but look for a debut sometime this auto show season. At first glance, there seems to be a lot of parts taken straight from a BMW parts bin. BMW owns Rolls, so this shouldn't be too much of a surprise. Still, it's disappointing to see the steering wheel from a 3 Series in place of the handsome, thin-rimmed wheels you usually find in a Rolls-Royce. That said, this could simply be a temporary solution while the car undergoes development. The rest looks a lot like the new Phantom. This includes the digital instrument cluster and various switches and knobs. There really isn't anything new we can glean from the Cullinan's exterior. We've seen this all before. The rear doors are of particular note as they each appear to have two door handles. Look closely and you can see a regular one in the back and what appears to be another up front. The latter suggests it may have suicide doors, though it may simply be a trim piece meant to simulate that iconic Rolls feature. We'll have to wait for the full debut to find out more. Related Video: Featured Gallery Rolls Royce Cullinan Spy Shots View 12 Photos Image Credit: CarPix Spy Photos Rolls-Royce SUV Luxury