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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.

BMW 4 Series Gran Coupe caught without cladding

Like it or not, the majority of BMW 3 Series variants are on their way out, and the 4 Series models are hotly embroiled in the testing needed to replace them. We've now driven the basic 4 Series, seen spy photographs of the 4 Series Convertible and both versions of the M4 and today we get a better-than-ever look at the 4 Series Gran Coupe.
And, mostly dependent on your personal disposition towards four-dour coupes, that look should be a pleasant thing. The long, swooping Gran Coupe may be roughly similar in size to the related 3 Series GT, but it has been sculpted with beauty in mind rather than crossover function. We expect that those details still hidden by the body cladding here, mostly front and rear, can be filled in by simply remembering what the standard 4 Series looks like and squinting your eyes a bit. Subtlety is thy name, BMW variants.
As for the mechanicals, well, we expect to have the very same greasy bits under the hood and beneath the car that are found in the 4 Series lineup, too.

BMW, Mini to offer Amazon Alexa in all models beginning next year

Voice recognition has been available in cars for years now, but the technology has improved, and found its way into our pockets and our homes. With applications like Siri and gadgets like the Amazon Echo essentially acting as digital personal assistants, the ways we interact with technology through our voice have advanced significantly in recent years. BMW plans to take advantage of the evolved voice technology, and will offer Amazon Alexa in every BMW and Mini model beginning in the middle of 2018. Drivers will be able to use the usual Alexa features (or "skills" in Amazon speak) to get the latest news and weather, provide entertainment, or remotely control their smart home gadgets. Alexa will also perform car-specific duties, such as navigation or locating nearby businesses. Users can also check on movie times, request specific playlists or even order products from Amazon through Alexa. View 5 Photos It's the logical next step for BMW, which has allowed owners to check the status or control features of their car through Alexa's BMW Connected skill since last year. Users won't need to bring their smartphone along for the Alexa to work, as BMW and Mini models will be equipped with their own SIM cards. Alexa will be available in cars in the United States, United Kingdom and Germany. As our friends at Engadget point out, the timing is important, as Amazon risked being left behind by the likes of Apple and Google, which offer their technology in vehicles via Apple CarPlay and Android Auto. Amazon would do well to expand access beyond the three markets in-car Alexa will launch in, for exactly the same reason. Check out the video above for how BMW envisions users interacting with Alexa. We really hope some lucky M4 owner does, in fact, actually order a pizza while drifting on the deck of an aircraft carrier. That's a future we want to live in. News Source: BMW, Engadget Auto News BMW MINI Technology Videos Amazon Amazon Alexa alexa