2013 Rolls Royce Ghost. Jubilee Silver With Seashell. 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.

Lucky ducks rescued, ride in a Rolls-Royce to their new Goodwood home

The phrase "put it on the bill" has taken on a new meaning at Rolls-Royce's Goodwood, England, factory. The firm now shares its headquarters with 15 ducks that were rescued earlier in 2020 and re-released as adults. Rolls-Royce explained that James Caffrey, one of its security guards, spotted a group of seven ducklings in a company parking lot in April 2020. He spent several hours observing the unexpected visitors from a distance before realizing that the mother duck wasn't coming back. Concerned, he captured the birds with the help of colleagues and sent them to the Brent Lodge Wildlife Hospital, which cares for sick, injured, and orphaned animals. Brent Lodge's goal is to release animals back into their natural habitat as soon as possible, not to keep them in captivity. The seven siblings were reared into adulthood and sent back to Rolls-Royce's headquarters, along with eight additional ducks that were also rescued locally. The group traveled to Goodwood in the back of a Cullinan, an honor that few humans — let alone birds — experience. They traveled in cages, letting ducks loose in an SUV would be disastrous, and Rolls-Royce joked its engineers are now looking into using ducks as a unit to measure trunk space. Rolls-Royce's new tenants live near the lakes that are next to its factory, so they're fully self-sufficient. There is enough food available to sustain the entire clan. We don't know whether they'll be asked to contribute something in exchange for living at Goodwood; the 250,000 bees the firm keeps make honey that's exclusively served to guests, like customers who fly in to pick up a car. If duck eggs come with your new Phantom, you'll know why. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Neglected Rolls-Royce Phantom may be the saddest of all time

Rolls-Royce prides itself on exemplifying the pinnacle of automotive elegance. The brand is synonymous with quality and luxury. However, in the end even a Rolls is still just a car, and if you don't keep it up, it's bound to fail. That deterioration can be seriously fun to watch, though.
This 2005 Rolls-Royce Phantom might now be one of the worst cars on the planet and only has a little over 95,000 miles on it. The video claims that the original owner in New Jersey didn't make payments on the car for three years but rented the sedan out to people and used it for a livery service. Now, it's repossessed and would probably cost more to fix than it's worth.
This Phantom has had a hard life. We don't want to spoil too many of the broken pieces because they pile up to become increasingly absurd. However, the pièce de résistance must to be the broken Spider-Man umbrella in the door.