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Mini's Oxford factory builds its 10 millionth car

Mini has a lot to celebrate in 2019. The original, pocket-sized city car that spawned the entire brand made its debut 60 years ago, and its historic factory in Oxford, England, made its 10 millionth vehicle in August. The zesty hatchback is already on its way to meet its biggest fans. Fittingly, the milestone car is a limited-edition 60 Years-badged model. It's based on the two-door Cooper S, so its 2.0-liter four-cylinder engine is turbocharged to 192 horsepower, and it receives several edition-specific touches like brown leather upholstery with green accents, an array of special decals and logos, plus 17-inch alloy wheels designed for the model. The 10 millionth Oxford-built car isn't destined for a life spent in a museum or in a private collection. At least not yet. It's already hit the road as part of a 61-car convoy making the 84-mile trip from the Oxford factory to Bristol to attend the International Mini Meet taking place August 11. The first Mini built, a white Morris Mini-Minor, is at the head of the pack. It's followed by an example made during every year of the model's unusually long production run. And what a run it was. There were 5.3 million examples of the original Mini made between 1959 and 2000, but not all of them were manufactured in Oxford, and none were sold under the Mini brand. Parent company BMW created Mini as we know it in late 2000 when it launched the first-generation Cooper (the car now known as the Hardtop). Its numerous predecessors were given more than a dozen names including Austin Seven, Austin Mini, Innocenti Mini, Morris 850, Riley Elf, and Rover Mini.

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 USA will temporarily stop importing manual transmissions

Emissions certification woes strike again, this time at Mini. The U.S. arm of Blighty's iconic car company has had to temporarily put a stop to importing any models with manual transmissions beginning with July production, which is when BMW typically begins rolling the new model year down assembly lines. According to MotoringFile, calibration testing for the six-speed manual is taking longer than expected. The outlet guesses the interruption will conclude by September, because it has "seen these type of delays in the past and they've lasted from 1-4 months." It has queried the brand's head of communication, who said, "As much as we at MINI USA would like to have a definitive timeline, it would be too early to say." The spokesman did, however, say that Mini remains committed to the manual gearbox. That comes in contrast to Toyota's recent breakdown of manual take-rates across a range of vehicle types, Hyundai jettisoning the manual on the 2020 Elantra, and stalwart enthusiast rides like the Ford Mustang Shelby GT500 and Chevrolet Corvette leaving the stick-shift fold. Nevertheless, Mini's efforts feel, at best, like raging against the dying of the light, especially because the end of the MF report states, "the other big news is that Mini USA is also eliminating the manual option from some models all-together." MF isn't yet certain about which models are affected, though. Buyers stepping up during the row-your-own intermission will get a crack at the long awaited seven-speed dual-clutch transmission or a revised eight-speed automatic. The DCT will slide into the Cooper and Coooper S models, the traditional automatic makes a home in the 301-horsepower John Cooper Works Clubman and Countryman.