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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.

New BMW i3-like Visio.M EV concept uses lightweight resin

It's not a new version of the BMW i3, but an updated version of a lightweight concept car from SABIC, BMW, the Technical University of Munich, Daimler and others does bear a certain resemblance to the well-designed plug-in city car. From the black "glass" in the hatch to the angled line tail lights to the up-and-down window line, you can see a sort of family resemblance (see an i3 comparison photo here). And, of course, they both have an electric powertrain. But the changes made to the new lightweight urban electric concept vehicle is more of an exercise in what's possible rather than a way to evolve the i3 and i8 into a broader i family of vehicles. Even so, what we see here is interesting, since SABIC found all sorts of new ways to take weight out of the car as part of the Visio.M (Visionary Mobility) project, which was first announced in 2012. Let's start with the window material, which as you might guess from the quotation marks above, is not made of glass but is instead SABIC's Lexan polycarbonate (PC) resin plastic. The lower weight (the PC helps shed about 29 pounds) adds two miles of range while the PC resin has better thermal conductivity compared to glass and so does even more because the HVAC system can be more efficient. According to SABIC's computational fluid dynamics analysis, an extra 9-10 miles of range, in fact. Without the battery, this concept weighs just 992 pounds. Remember, BMW already made a lot of weight-reduction measures in the i3 thanks to carbon fiber reinforced plastic, so to make the "glass" lighter would only help boost efficiencies on a production vehicle that uses a resin like this. Read more below. SABIC's LEXAN™ resin delivers weight savings and thermal efficiency for new ultra-lightweight electric car concept developed by BMW-led Visio.M Consortium Munich, October 20, 2014 Today, at the Technical University of Munich (TUM), BMW, Daimler, TUM scientists and a consortium of industry participants showcased a lightweight urban electric concept vehicle with various advances, including an all-plastic design of the car's windows. The windows are made of LEXAN resin, a polycarbonate (PC) material, and coating technologies from SABIC, a leading developer of PC glazing for automotive windows and many other thermoplastic solutions for the automotive industry.

EVO "2012 Car of the Year: The Track Battles" is a sports car salmagundi

EVO has come out with another gotta-watch-it video, throwing its 2012 Car of the Year contestants around the UK's 1.5-mile Blyton Park track. It's actually a 15-minute teaser for the full-length DVD detailing the magazine's Car of the Year selection, but the tease is worth every penny free second.
Tiff Needell and sports car racer Richard Meaden handle the wheel duties, the two driving five pairs of sports cars: Lotus Exige S vs. Porsche Boxster S, Morgan Three-Wheeler vs. Toyota GT86, BMW M135i vs. Porsche 911, Mercedes-Benz C63 AMG Black Series vs. Alpina B3 GT3, the marquee event pits the McLaren MP4-12C vs. the Pagani Huayra. After a head-to-head lap with commentary during drifts, Meaden takes each car out to set a representative lap time.
You'll find the verdicts, lots of tire smoke, and lines like "Anything you can do sideways I can do sideways" in the video below.