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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.

Next-gen BMW 5 Series sedan spotted with production body, possible PHEV

The current BMW 5 Series is just a few years old since its 2009 debut, but the Bavarians are already preparing to put the model out to pasture. Here's our first glimpse at the production bodywork for the next-gen sedan after spotting the wagon version during testing – twice. While the cladding and swirling camouflage make specific details difficult to discern, it doesn't look like we should expect any massive changes in design language from the new model. The nose appears to dip a bit more at the tip of the front end, but otherwise there's no way to mistake this as anything other than a 5 Series. Squint hard enough at the front left fender and you can notice what seems to be a small door. Our spies think that this might be hiding the charging port for a plug-in hybrid version. While the styling doesn't appear to be changing much, the next 5er reportedly has a new platform underneath the skin that supposedly will help it shed around 220 pounds. The debut for this lighter but likely similar looking BMW is expected sometime in 2016.

BMW Concept 90 Motorcycle debuts at Villa d'Este

The Concept 90 is one of two new vehicles BMW is showing off at the Concorso d'Eleganza Villa d'Este on the tony shores of Lake Como in Italy. This year is the 90th anniversary of BMW Motorrad and the 40th anniversary of the R 90 S (inset) - the first production motorcycle to come with a front fairing - and BMW has worked with custom bike builder Roland Sands Design to craft a homage to the Daytona Orange boxer from the Seventies.
While following the line of its forbearer, obviously the Concept 90 has been sexed and sleeked up. The bodywork is of hand-worked aluminum, the giant halogen lamp of the 1975 model (which is when Daytona Orange was introduced) has gone LED, and the front engine cover, valve covers, exhaust and wheels have been made with a contrast-cut milling process.
For a finer description of the Concept 90 check out the press release below, or skip the words and go straight to the high-res images above.