2004 Mini Cooper S Hatchback 2-door 1.6l - No Reserve on 2040-cars

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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.

The original Mini Cooper still has universal appeal

It sold over five million units. It was voted the second most influential car of the last century, bested only by the pioneering Ford Model T. It counted among its owners Steve McQueen, Enzo Ferrari and Peter Sellers. It is the classic Mini.
The tiny, two-box, four-seat hatch is an automotive icon of the first order and it's high time it featured in an episode of Petrolicious. Of course, the video gurus did it right, filming this handsome 1971 Mini, which has been modified to accommodate the 1,275-cc four-cylinder from the Mini Cooper S of the time.
Its owner, Sumner Norman, describes life with his right-hand-drive, UK-spec Mini. Naturally, he points out some of the idiosyncrasies inherent with a car built under the guise of British Leyland, including some of well known reliability woes, which he says is the car "going British." Mostly, though, he just seems to have a good time with the little hatch.

Mini deletes center rail in Countryman, Paceman

When Mini first introduced the Countryman, it only came as a four-seater, with a center rail between the two seats that could house things like cup holders and could be slid back and forth. Buyers could even opt for a full-length center rail that ran from just aft of the gear shifter all the way back between the rear seats, like we did in our long-term 2011 Cooper S Countryman All4, shown above.
Shortly after the Countryman's launch, Mini was able to offer the vehicle with a proper rear bench seat; the company could not offer this at launch due to NHTSA guidelines that governed the minimum vehicle width for three-person seating, but those rules were changed. And now, we've received official confirmation of something we reported last year: the Countryman is losing its center rail and four-person seating arrangement altogether. Moving forward, buyers will only be able to spec a Countryman with the bench seat, and a cup holder will be affixed to the back of the forward cabin's center console.
The larger-but-smaller Paceman will also be losing the center rail between its rear seats, but the car will remain a four-seater, instead having a console between the two rear seats that houses a cup holder, an iPod cozy and a 12-volt outlet, according to USA Today.