371k Msrp, Theatre Package, 21 Chrome Wheels Only 7k!!!! on 2040-cars

Auto blog

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.

Watch the Rolls-Royce Phantom live reveal

Watch the live reveal of the all-new eighth-generation Rolls-Royce Phantom. For decades, the Phantom has defined what it means to be a luxury car. As with other Phantoms, look for metal, wood, and enough leather to support a small farming operation for years. Rolls-Royce Luxury Videos Sedan rolls-royce phantom

Recharge Wrap-up: Google Street View maps gas leaks, Rolls-Royce helps kids build electric racer

Google Street View is looking for gas leaks. Natural gas leaks are not only extremely dangerous, they're a terrible waste of resources and, as a greenhouse gas, a threat to the environment. Unfortunately, with the decaying infrastructure in many of America's older cities, they're pretty common, too. That's why Google is teaming up with the Environmental Defense Fund to map gas leaks. With sensors attached to the Street View cars, they are sniffing out methane leaks and documenting them. So far, they've covered Boston, Staten Island and Indianapolis, with Los Angeles and Syracuse up next. Read more over at Gizmodo. Consumer and environmental groups are calling on the Federal Trade Commission to change the way car advertisements disclose fuel economy. Nine groups, including Sierra Club, Union of Concerned Scientists and Consumers Union, want mpg figures to be clearer and more complete. They have requested that when mpg is advertised, that it includes the EPA's city, highway and combined ratings. They also, among other requests, want mile-per-gallon-equivalent ratings for electric cars to state that they are for comparative purposes only, and to include separate gas and electric ratings for plug-ins and range extended EVs. See what else the groups have requested at Kicking Tires. Rolls-Royce has a new electric car, and it's not the 102EX. The luxury automaker worked with a group of elementary school students in the UK to build an electric car for the IET Formula Goblin project, where students build and race their own electric "car." Rolls-Royce lent the 9, 10 and 11 year-olds a bit of engineering and manufacturing assistance to build the car, which they then raced at the Goodwood Motor Circuit. Read more at World Car Fans, or check out the press release, below. ROLLS-ROYCE SUPPORTS LOCAL PRIMARY SCHOOL'S RACING DEBUT A team of school children mentored and supported by Rolls-Royce Motor Cars successfully completed the Greenpower IET Formula Goblin race at the Goodwood Motor Circuit on Sunday. The group of 10 boys and girls from Years 5 and 6 built and piloted a specially developed electric car in a race against teams from schools across the UK. 'Team March', from the March CE Primary School adjacent to the Home of Rolls-Royce in Goodwood, finished well up the order and scooped the prize for 'Best Bodywork'.