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Mini announces thoroughly modern engines and chassis for 2014 Cooper

The 2014 Cooper will come with a three-cylinder engine and the Cooper S will get a 2.0-liter four-cylinder, both with Mini's TwinPower turbochargers.
We have seen spy photos of the all-new Mini Cooper. We have been teased about its drivetrain. Now we have the engine details confirmed by BMW.

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.

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.