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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 to change model designations, further yet from actual displacement?

Once upon a time, you could look at the back of a trunk lid of a BMW and come up with a pretty fair idea of what sat under its hood. For example, a 320i was a 3 Series with a fuel-injected, 2.0-liter engine, a 328i was a 3 Series with a fuel-injected, 2.8-liter engine and a 328Ci was a two-door 3 Series with the same engine. Those were good days.
Today, though, that simplicity is dead and gone. A 328i now has a 2.0-liter engine, just like the 320i, while the simple "C" designation that was affixed to two-door models has been replaced with a "4," so we have a 428i and a 435i. It gets worse, though. A 550i uses a 4.4-liter, twin-turbocharged V8 (it should be a 544ti, although we'd be willing to hear an argument for "tti") and a 740i uses a 3.0-liter, turbocharged six-cylinder, which is the same engine found in a 535i. It's madness.
And, well, it's about to get madder, if a post on a BMW enthusiast forum is to be believed. According to f30post.com, we could see a shakeup in at least the 3 and 4 Series nomenclature, thanks to an impending refresh that will see the addition of new, turbocharged four- and six-cylinder engines, codenamed B48 and B58, respectively.

BMW bringing X3 diesel, X5 PHEV concept to New York

We've seen the i3 and i8 plug-in vehicles at plenty of BMW auto show stands these past few years. At the upcoming New York International Auto Show, the automaker will spread out a bit by showing off both new diesel and plug-in hybrid SUVs. Bimmer will showcase its diesel-powered X3 vehicle, which starts sales this spring as a 2015 model, and a concept plug-in hybrid X5 SUV. There are lots of figures to digest for what will be called the X3 xDrive28d. The vehicle will be powered by a 2.0-liter four-cylinder twin-turbodiesel engine that will deliver 180 horsepower and 280 pound-feet of torque. Propelled in part by an eight-speed automatic transmission, the SUV will be able to go from 0 to 60 miles per hour in about eight seconds. It will be priced with an MSRP of $42,825, which is represents a $3,500 premium over the base X3. BMW hasn't made fuel efficiency figures available, but they should be a nice improvement over the base X3's 24 mile per gallon fuel-efficiency rating in the US. Bimmer is also supposed to bring the X5 eDrive concept plug-in hybrid stateside. We saw it in Frankfurt last fall and then in some on-the-road spy shots more recently. The SUV pairs a 245-horsepower four-cylinder gasoline engine with a 95-horsepower electric motor, and will be able to go as fast as 75 mph and as far as 20 miles on electric power alone. BMW says fuel efficiency will be about 62 miles per gallon, per the more lenient European Union test cycle. That's more than double the current diesel powered X5's 26 combined mpg rating handed out by the EPA. And the model's 0-60 time is less than seven seconds. If you'd like to know more, you can take the better part of the day and check out Bimmer's mighty long press release below. BMW X4 Sports Activity Coupe and M4 Convertible Make World Debut at 2014 New York International Auto Show New BMW 4 Series Gran Coupe and BMW ALPINA B6 xDrive Gran Coupe to make North American debuts Updated BMW X3 Sports Activity Vehicle also makes North American debut including first BMW Advanced Diesel X3 model for the US BMW Concept X5 eDrive showcases new dimension of BMW EfficientDynamics technology Woodcliff Lake, NJ – April 3 , 2014 6:00pm EDT/3:00pm PDT. . . The all-new BMW X4 Sports Activity Coupe as well as the BMW M4 Convertible make their world debuts at the 2014 New York International Auto Show. North American debuts include the all-new BMW 4 Series Gran Coupe as well as the BMW ALPINA B6 xDrive Gran Coupe.