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BMW won't build this classic Mini Electric, but we wish they would

We have good news, and we have bad news. First, the good: BMW is showing off this ridiculously fun classic Mini at the New York Auto Show, complete with the addition of a fully modernized electric powertrain. And now, the bad: It's a one-off with zero chance of even small-scale production. To clarify, Mini will indeed unveil a full electric model sometime in 2019, but it'll be based on the new Cooper, not the classic you see here. View 26 Photos There aren't any real specifications to go along with the announcement and images released just ahead of the NY Show. BMW just hints that the car's driving characteristics "remain true to the brand" with "spontaneous power" that contributes to its "unmistakable go-kart feeling." Oh, and BMW also says the little red hatchback is "a sympathetic ambassador for environmental awareness." Whatever that means. We're content to let all that posturing and press-release speak go unchecked, mostly because we're just so pleased that BMW took the trouble to build this thing in the first place. Classic cars are fun in general, and if the reimagining of such an icon with future-proofing technology like an electric powertrain conversion keeps the public focused on cool cars both past and present, well, that notion gets a hearty nod of approval from all of us here at Autoblog. Check out the images up above for now, and stay tuned for plenty more fun surprises as the festivities in New York carry on over the next couple of days. Related Video: Green New York Auto Show MINI Hatchback Electric Luxury Special and Limited Editions Performance Classics 2018 new york auto show electric conversion mini electric

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 Superleggera Vision Concept keeps us hangin' on [w/video]

Mini's Superleggera Vision Concept may not be a Paris Motor Show debut, but this is the first time we've seen this stunning all-electric roadster in the metal, having been first shown on the tony shores of Lake Como at Villa D'Este in May. While it's small in stature, it's still big on both presence and detail, from its overall stubby yet sleek proportions to its Union Jack taillamps, Jaguar-esque rear fin and elegant rearview mirrors.
We still don't know much more about what powers this Touring Superleggera coachbuilt showcar, as any powertrain specifics are conspicuous by their absence, but we'd welcome both a pure electric version and something powered by the BMW/Mini turbocharged three-cylinder currently making the rounds in the new Mini Cooper.
Last we heard in September, any decisions on a production future for the Superleggera Vision have been tabled, with word being that a further six months of study is planned before Mini decides to greenlight or nix the project. We'd love to tell you that the fact that it's here in Paris is a great sign, but we wouldn't believe us, either.