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BMW looking to save billions with cost cuts

BMW is planning a fairly extensive overhaul in a bid to recoup some its annual costs, with CEO Norbert Reithofer (pictured above) aiming to save three to four billion euro ($4 to $5.4 billion) per year to help keep the company's profit margins between eight and 10 percent, while also maintaining investments in production expansion and new tech. BMW's profit margins sat at 9.4 percent in 2013.
According to Automotive News Europe, Reithofer is none too pleased about costs at Mini and on the 1 Series, although neither AN nor its source story, from Germany's Manager Magazin, elaborate on what steps could be taken to improve losses on either project. That makes it hard to figure out just where the fat will be trimmed from.
What may happen, though, is that BMW attempts to trim 100 million euros ($135 million) from its German labor costs each year; a solution hinted at a few weeks ago by Germany newspaper Muenchner Merkur. While a dramatic cost reduction, 100 million euros still doesn't begin to even approach the savings envisioned by Reithofer.

2020 Mini E caught in the Alps with concept looks

The upcoming full-electric 2020 Mini E hatchback has been spotted in the wild, specifically the Alps. One of our spy photographers caught it while recharging. Fans of the concept shown at the 2017 Frankfurt Motor Show will be pleased to see that this more production-ready car takes many cues from the show car. Unsurprisingly, the car does look pretty much the same as the standard Mini Hardtop. It has the round lights, broad grille section and upright Mini body. Differences show up first with the grille. Most of it is solid, which is understandable since an electric car typically doesn't need the amount of airflow an internal combustion car needs. There is a strip in the middle that is open, evident by circular cutouts. This is also a design that was featured on the concept, in which the two halves of the grille were solid, with an open slot dividing them. The rest of the bumper appears to be the same one used on the standard Mini Cooper Hardtop. The sides of the car also seem to be identical to the normal Minis, but the wheels are unique to this electric iteration. They're cool four-spoke alloys that have aren't completely symmetrical. Three of the spokes are open and finished, but one has some additional metal, and it seems to connect with the center section where the lug nuts are. There will probably be a cover that goes over these sections. The overall look is directly taken from the Frankfurt concept. At the back, the electric Mini still looks like a Mini, but with no provisions for an exhaust pipe. It also uses taillights from the pre-refresh model, but with some neat hexagonal texture on the lens. These will probably be replaced by the new Union Jack taillights, though. The interior continues the current Mini looks. The seats do have an interesting upholstery. It looks a bit like a gray denim. This production Mini E Hardtop should arrive sometime next year, in keeping with BMW's promise made with the concept car's reveal. Specs are unknown, but we hope it will be comparable in power with the original Mini E introduced for the 2009 model year. That car had an impressive 204 horsepower and 162 pound-feet of torque. Hopefully the new model will also improve on the old car's range, which was about 150 miles according to BMW. Related Video:

Mini Convertible will reportedly close its top for the final time in 2024

Mini will cancel the droptop version of the Hardtop after three generations, according to a recent report. The Convertible competes in a shrinking segment of the market, so it's one of the brand's slowest-selling nameplates. Production of the current-generation Convertible (pictured) is scheduled to end in February 2024, Automotive News learned from unnamed supplier sources, and the model will not spawn a direct replacement. Mini hasn't confirmed the report, but it's credible because the firm sold only 4,031 units of the Convertible in the United States, one of the largest droptop markets in the world, in 2019, a 25% drop compared to 2018. Global sales totaled 30,426 last year, the publication reported, a not-insignificant 14% drop compared to 2016's results. Motorists who want a convertible Mini may not be entirely out of luck. While it doesn't sound like the head-turning Superleggera Vision concept unveiled in 2014 will reach production, the BMW-owned brand hasn't given up on the idea of launching a standalone sports car that could arrive as a mid-engined roadster. It would likely be electric, like we previously reported, and it hasn't been approved for production yet. Mini has more pressing issues to deal with. Global sales fell by 4.1% in 2019 as motorists in all markets flock around crossovers. As a remedy, executives confirmed they've delayed the launch of the next-generation Hardtop, which will again wear a retro-inspired design but rely largely on technology to offer motorists a simpler, cleaner-looking interior. In the meantime, the company is reportedly developing a pair of crossovers that will allow it to plant a stake in key segments of the market. One, which could revive the Paceman name, will arrive as an electric model developed jointly with China-based Great Wall Motors and built locally. Possibly named Traveller, the second will be a more conventional SUV aimed largely at the American market and neatly positioned between BMW's X1 and X3 in terms of size. It will ride on the German firm's modular CLAR platform, which underpins cars like the 3 Series. Expanding the range while investing in new technologies, like electrification and autonomy, requires a huge amount of resources. In turn, these expenditures make the Convertible's business case even more challenging. If the report is accurate, the Convertible will stick around for about 3 1/2 more years, so it might receive a handful of updates before it closes its top for the final time.