2006 Mini Cooper Convertible 1.6l I4 16v Engine Auto Transmission One Owner 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.

Mini John Cooper Works previewed in camo keeping gas performance alive

Curious about the next Mini Cooper JCW? Well, here’s a great sneak peek, as Mini just dropped a cache of photos showing it in race guise and wearing a thin layer of camouflage. WeÂ’ve already seen the electric John Cooper Works version of the two-door hardtop Mini, but this is the gas-powered variant. Many of the design elements weÂ’re seeing here like the grille, front lower side vents, rear bumper and more should make their way to the production car, which Mini says will be revealed this fall. The grille might be new, but it looks a whole lot like the front end we saw on the outgoing Mini Cooper JCW. That said, it adopts the new shape and minimalist vibes from the 2025 Mini weÂ’ve seen in the less-sporty variants. The rear end with its taillights are what we expect from the production car, though the rear diffuser shouldnÂ’t be anywhere near that aggressive. The specific car youÂ’re looking at here is covered in red and white camo as an homage to the red and white color schemes used in the 1960s for Minis in motorsports. It also has a “37” logo to commemorate the Mini Cooper SÂ’ victory (a car wearing 37) at the 1964 Rallye Monte Carlo. We still donÂ’t know specs, but since Mini is done with manual transmissions, expect this JCW to feature an automatic paired with an updated version of the 2.0-liter turbocharged four-cylinder engine found in the outgoing model. It should also feature a sportier version of the interior weÂ’ve already seen in the new Cooper. All the details will be made available before the year is out, but for now, enjoy these photos as a preview of whatÂ’s to come.

BMW, Sixt carsharing making money most places

The DriveNow carsharing service, which is a partnership between BMW and Sixt, is growing quite rapidly. "We've been surprised about the explosion of new subscriptions, which has helped boost revenue," says Sixt CEO Erich Sixt. The number of DriveNow users has increased from 215,000 at the end of last year to 300,000 today. Sixt says that DriveNow has been profitable in cities in which it has been established for over a year. Perhaps encouraged by its unexpected success, DriveNow is set to expand even further. The service is currently available in five German cities, as well as in San Francisco, California, and the involved parties are considering a five-year plan to expand to 25 more cities in Europe and the US. Still, Sixt expects DriveNow to report a "small-to-medium, single-digit" loss for this year, according to Sixt CFO Julian zu Putlitz. It's no big deal, just the result of startup costs in new areas. Sixt, which is Germany's largest car rental company, also reported that its own second-quarter income rose 12 percent to $37.7 million, while sales rose 7.6 percent to $585.78 million. DriveNow uses a membership and pay-per-minute model that allows customers to rent BMW and Mini vehicles as they need them. The service also acts as a way to let potential customers try out the vehicles and familiarize themselves with the brands before they buy cars of their own at some point. Depending on the location, DriveNow's fleet includes the BMW 1 Series, ActiveE and X1, as well as several Mini vehicles like the Cooper, Clubman and Countryman. Featured Gallery 2012 BMW ActiveE: First Drive View 31 Photos News Source: BloombergImage Credit: Copyright 2014 AOL Green BMW MINI car sharing profit revenue drivenow sixt