2007 Bronze Mini Cooper With Hard-to-find Red Leather Interior 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.

David Brown's latest Remastered project shows the Mini's classy side

England-based David Brown Automotive builds some of the most mesmerizing classic Mini models we've ever seen. Its latest creation is no exception: Commissioned by a client in Japan, it leaves behind the Mini's econobox roots and proudly highlights the car's upscale side. In a way, David Brown is to the Mini what Singer is to the Porsche 911. It keeps the original car's basic design and proportions but modifies nearly everything else. For this posh, England-inspired build, it applied a coat of paint called Fade to Black and installed 13-inch wire wheels, which were never available from the factory. There's also a hand-painted Union Jack flag on the roof. Look closely and you'll spot several other subtle changes, like LED exterior lighting, bullet-shaped door mirrors, fender flares, and smooth fenders (the originals have a seam). The resto-mod treatment continues inside with red leather upholstery, black inserts in the seats, a wood-rimmed Mona-Lita steering wheel, Smiths gauges, and a push-button ignition. David Brown also replaced the air vents and most of the switchgear, and added a modern sound system. The finishing touch is a pair of leather straps designed to carry an umbrella and attached to the passenger-side door panel. While the company has dabbled in performance, it doesn't sound like the customer who commissioned this Remastered asked for rally-ready speed. The standard engine that David Brown Automotive puts in its cars is a 1,275-cc four-cylinder that develops 71 horsepower and 88 lb-ft of torque in its standard state of tune. It's fuel-injected, and in this application it spins the front wheels via an automatic transmission. David Brown Automotive hasn't revealed how much this specific build cost. However, it previously noted that each Remastered takes about 1,000 hours of labor to complete, so it's reasonable to assume that it's priced accordingly — and likely far above anything Mini makes. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Automotive April Fools' joke roundup [w/videos]

Happy April, everyone. And we all know what this first day of the month means: April Fools' Day. Today is a national holiday for pranksters with the Internet acting as a serious enabler, and it's always fun to see what kind of vivid imaginations exist out there in the automotive world. The abundance of fake news gets a little old as the day rolls on, but we did manage to get in a few chuckles thanks to a handful of major automakers and automotive news outlets that got into the pranking spirit this year
Some of our favorites this year includes Subaru showing what happens when you combine a bunch of rumors, a Corvette some may have already thought was a joke or Honda providing some in-car innovation circa the late 1980s. Honestly, we're still waiting for official confirmation from Mitsubishi that the recently introduced 2014 Mirage is an elaborate April Fools' joke using a failed design intended for the 1995 Geo Metro. We dug up as much "official" OEM foolishness we could find, as well as some of our other favorites, and posted them all below.