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Rolls-Royce Phantom celebrates decade of decadence

Ten years ago, Rolls-Royce opened its Goodwood manufacturing facility and handed over the keys to the very first Phantom. Back then, parent company BMW was cranking out Phantom sedans at the blistering pace of one unit per day. By the end of 2003, that number had tripled, and today, the Goodwood plant builds a total of 20 Phantoms in sedan, coupe, drophead and extended-wheelbase models during a single day's working hours. Originally, there were fewer than 400 workers on staff responsible for hand-building the big cruisers, but now the plant boasts over 1,400 craftsmen, with 100 of those positions added in 2012 alone.
Rolls-Royce boasts one of the lowest staff turnover rates of any brand in the industry, thanks in part to a successful apprenticeship and internship program, and the company notes 80 percent of its workers live within 15 miles of the facility. You can read the full press release on the 10th anniversary of both the Phantom and the Goodwood plant below.

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 Ghost counts 1001 Nights back to the 1970s

A Rolls-Royce should remind you of a golden age of motoring – cruising around the British Isles with a giant hood ornament pointing the way forward is, in some circles at least, the epitome of class. This latest special edition, however, revives another time and place altogether... one nowhere near as classy. The Rolls-Royce Ghost 1001 Nights edition takes its inspiration from the classic Middle Eastern tome, and throws in some unfortunate 1970s style for good measure. It's done up in a two-tone brown and orange exterior color scheme, for some reason unbeknownst to us, with hand-painted coach lines and Arabian-themed motifs inside and out. The Middle Eastern cues are one thing... the paint job, on the other hand, reminds us of an age when Goodwood was producing ostentatious boxes in questionable color schemes, powered by 6.75-liter V8s mated to three-speed automatic transmissions and producing power that Rolls-Royce referred to as "adequate." Of course, nobody is forcing anyone to buy this unfortunately customized Ghost. The company's Bespoke division will set one up for any paying customer just the way he or she desires. Just why anyone would desire this particular configuration, however, is beyond us. Still, we doubt the ultra-luxe automaker will have much trouble selling however many of them it produces at whatever price point it determines – such is the apparent demand for Rolls-Royces in the Persian Gulf region. After North America, the Middle East is the company's largest market. Last year the dealership in Abu Dhabi sold more units than any of the other 126 showrooms around the world. And that's not even including the other dealers in nearby Dubai and Sharjah (both in the UAE), plus additional showrooms in Bahrain, Qatar, Kuwait, and three more in Saudi Arabia – all carving up one of the most lucrative markets in the world. It only keeps growing, and Rolls-Royce reports that every last one it sells in the region has been customized by the Bespoke division. Related Video: