Fwd 4dr S Mini Cooper Countryman Low Miles Suv Automatic Gasoline 1.6l 4 Cyl Ox on 2040-cars

Auto blog

BMW profit of $2.7B is down as automaker invests to keep luxury lead

Despite selling 6.6-percent more vehicles - a record by volume - and posting higher revenues in the second quarter of 2013, BMW Group's profit of 2.07 million euros ($2.75 billion) is down 8.8 percent from last year. Investments in new technology (e.g. the new i3) and personnel, in addition to a competitive market, are to blame, BMW states. But the automaker remains committed to its fiscal targets for 2013, which, Chairman of the Board of Management of BMW AG, Norbert Reithofer, says will be "on a similar scale to 2012."
The BMW brand's sales performance in the first half of the year, which increased by 7.7 percent to 804,258 vehicles delivered, was good enough for it to maintain its lead in the luxury market, narrowly beating Audi, which delivered 780,510 vehicles, Automotive News reports. Mercedes-Benz delivered 694,433 vehicles to cement third place.

2016 John Cooper Works Clubman is torquiest Mini ever

Mini fancies its latest Clubman as more an executive car than a typical premium compact. Think BMW 5 Series to the regular Hardtop's 3 Series. With that in mind, you can think of the new John Cooper Works Clubman as a Mini M5 of sorts. The new JCW Clubman boasts a number of features not offered on its little brothers. Mini engineers are squeezing 228 horsepower out of the 2.0-liter, turbocharged four-cylinder, just like on the Hardtop model. But the bigger John Cooper Works gets a significant bump in torque, up from 236 pound-feet of torque to a more robust 258 lb-ft. And with a standard All4 all-wheel-drive system, the JCW Clubman maximizes the ability to deploy that extra power. View 15 Photos Regardless of transmission, the new Works model hits 60 in 6.0 seconds and runs up to 147 miles per hour, 0.9 seconds quicker and five miles per hour faster than the S model we drove last year. A sportier suspension, meanwhile, drops the ride height 0.4 inches, so expect at least slightly better handling from Mini's newest Works model. Exclusive two-piece sport seats should keep drivers in place while exercising the newfound handling ability. But beyond the extra power, all-wheel drive, upgraded suspension, and neat seats, the JCW Clubman is largely a mishmash of parts we know and like. It uses the same standard six-speed manual and optional eight-speed automatic as the regular car, while the polarizing six-doored body wears the usual JCW tinsel – 18-inch wheels and a more aggressive body kit that promises better engine and brake cooling. And it still has a weight problem – the new car weighs in just under 3,500 pounds to the standard car's 3,300-pound curb weight. Mini hasn't published pricing, but if the trend set by the Hardtop and Convertible continues, we'd wager the new JCW will start around $35,500, tacking $6,000 onto the S model's $29,450. Well, at least Mini has the executive-level pricing down. The John Cooper Works Clubman should hit US dealers in December. Related Video: Related Gallery 2016 Mini John Cooper Works Clubman View 18 Photos News Source: MiniImage Credit: Live photos copyright 2016 Drew Phillips / AOL MINI Wagon Luxury Performance mini clubman

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.