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BMW's Mini plant closes for 4 weeks for the Brexit that didn't happen

LONDON — BMW's Mini plant in Britain is closing for four weeks starting Monday in a move planned over a half year ago to help the company deal with any disruption resulting from Brexit, which has since been delayed. The German carmaker, which builds just over 15 percent of Britain's 1.5 million cars, moved its annual summertime shutdown to April to "minimize the risk of any possible short-term parts-supply disruption in the event of a no-deal Brexit." But Britain's departure from the EU has now been pushed back from March 29 until at least April 12 or potentially much later, scuppering the timing of major contingency plans for some carmakers. Shutdowns are organized far in advance so employee holidays can be scheduled and suppliers can adjust volumes, making them hard to move. "This is what our company and our workforce have planned for over many months, and it is fixed into our business planning," said a BMW spokesman. It represents the latest headache for Britain's once roaring car sector which had been on track for record production but since 2017 has posted sharp falls in sales, output and investment. The overwhelmingly foreign-owned industry has become increasingly incredulous as a stable and attractive investment environment descends into one of its deepest political crises, risking the free and frictionless trade the sector relies on. BMW's Rolls-Royce factory in Goodwood will close for two weeks whilst Jaguar Land Rover's (JLR) three car plants and engine facility and Honda's Swindon facility will also shut for a few days this month as part of Brexit contingencies. It has been a turbulent few months for the sector after Nissan canceled plans to build a new sport utility vehicle at its English Sunderland plant and Honda said it would shutter its plant in 2021 in the biggest blow to the sector for years. Toyota provided a rare boost when it announced plans to build cars for Suzuki at its English car plant. BMW, which is also closing its central English Hams Hall engine facility and Swindon press shop and sub-assembly site for four weeks, has said it could move some engine and Mini output out of Britain if there is not an orderly Brexit. Carmakers face a number of risks if there is a disorderly Brexit, including delays to the supply of ports and finished models, new customs bureaucracy, the need to recertify models and an up to 10 percent tariff on finished vehicles.

Daimler, BMW, Audi consortium nabs Nokia maps for $2.72B

A consortium of German automakers made up of Daimler, BMW, and Audi has reportedly banded together to buy Nokia's Here mapping division for the equivalent of about $2.7 billion. The particulars of the deal aren't yet official but could be announced at the end of July. Reuters claims that this info comes from anonymous insiders speaking to Manager Magazin in Germany. It might be too soon, however, to declare a buyer. Reuters also spoke to two other insiders, and they said that no deal has been completed yet. None of the firms involved has officially spoken about the negotiations. Some of the other bidders for the division have reportedly bowed out. Here is a high-definition digital mapping company that controls about 70 percent of the auto market. The company has a fleet of vehicles with cameras and LIDAR (pictured above) to generate all of the necessary information. It also partners with trucking companies to use their GPS data. Nokia started looking for potential buyers for Here earlier this year. Tech giants that reportedly included Uber and Apple were rumored to be interested, while German automakers also teamed up to submit a joint bid in part to protect their access to the maps. On paper, Here is only valued at around $785 million, but a sale in the billions now seems assured. Related Video: News Source: ReutersImage Credit: Nokia Here Earnings/Financials Audi BMW Technology here nokia here

Weekly Recap: Ferrari plans to gradually increase production by 2019

Ferrari has long been known for the exclusivity of its performance machines. It's on a different level than Porsche, BMW, and Mercedes. But as it transitions to a new era of independence from Fiat Chrysler, Ferrari is going to get a little less exclusive. It's by design, and it means a subtle, slow ramp-up of production – a move Ferrari believes will ensure its future by meeting growing demand in new markets. The strategy was detailed in SEC documents filed this month as part of the company's pending stock offering. The files reveal Ferrari will gradually increase shipments to about 9,000 units per year by 2019. This is a reversal of Ferrari's 2013 plans to cap production at 7,000 cars annually, which it hit on the nose that year. Ferrari shipments inched up to 7,255 in 2014, though that's down from 2012's record tally of 7,405. Ferrari is a vastly different operation than it was in 2013. Longtime chairman Luca di Montezemolo stepped down last fall, and FCA chief executive Sergio Marchionne has been overseeing the company since then. Its IPO has attracted high levels of attention from enthusiasts and investors. As expected, demand has reportedly outstripped the availability of the stock, which has an estimated offering price of $48 to $52 a share. Speaking of more Ferraris, the company revealed a limited-edition model this week called the F12tdf (shown above). Based on the F12 Berlinetta, the car is a salute to the Tour de France endurance auto race that Ferrari dominated in the 1950s and '60s. The V12 engine's output increases to 769 horsepower, while weight is cut by 243 pounds – allowing for a sprint to 60 mph in 2.9 seconds. Dramatic carbon-fiber elements and a radical redesign of the body panels give the F12 a more dramatic look. It will be limited to 799 units over the life of the car. If this is how Ferrari is increasing production, we're more than okay with the company's new strategy. OTHER NEWS & NOTES Tesla software unlocks Autopilot features Tesla released the latest version of its software for the Model S this week, which allows the all-electric sedan to drive in a semi-autonomous state called Autopilot. Tesla Version 7.0 enables the Model S to maintain lane position, change lanes by touching the turn signal, and manage the car's speed using an advanced, traffic-sensing cruise control. It also has a parallel parking feature, which searches for open spots and then parks your Tesla.