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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.

Rolls-Royce wrapped a Ghost in gold for Antonio Brown's Super Bowl use

Well, don't I feel like a jerk. While in San Diego earlier this week for the Honda Civic Coupe launch, I stumbled across a Rolls-Royce Phantom that had been wrapped in a chrome/polished gold finish. It was atrocious, so I took a picture, posted it on Facebook, and captioned it by suggesting that Charles Rolls and Henry Royce were turning in their graves. Now, the company those two men lent their names to have wrapped a Ghost in a very similar style for Pittsburgh Steelers wide receiver Antonio Brown to drive around San Francisco during Super Bowl 50. It's not clear why Brown is in San Francisco, since his team never made it past the AFC Divisional Playoff. But his love of Rolls-Royce motorcars is no secret. Brown made headlines in the sporting world in July of 2015 for his Phantom. Sporting a matte-black finish with a wide yellow stripe down the middle – just like the Steelers' helmets – the car also wore whitewall tires and bore Brown's signature in a gloss decal. This wrapped Ghost is about as tasteful. Its semi-gloss gold finish is broken up by the silver hood, while Brown's catchphrase, "Business Is Boomin" is displayed along the doors. The front fenders feature Brown's initials and his number. At least there aren't whitewall tires. You can check out the one-off Ghost in the gallery above. Or you could do the sensible thing and forget this thing ever existed. Related Video:

Rolls-Royce shows off bespoke Wraith with interplanetary inspiration

Rolls-Royce is dangling yet another one-off Wraith far out of our reach — so far out of reach, one might even say it's not of this world. If you've ever dreamed of rolling around in your own private planetarium, well, one lucky Rolls-Royce customer in Dubai is about to be living your fantasy.  Bestowed with the tagline "Inspired by Earth," this Wraith draws its cues from more than just the Blue Planet. While the hood is adorned with an air-brushed scene of the Middle East as viewed from the heavens, this luxury coupe's overall aesthetic is decidedly interplanetary. The first hints of this can be seen in the hand-painted solar system incorporated into the pinstriping elements on the Wraith's flanks. “WeÂ’re used to clients bringing us grand visions for their Bespoke Commissions, but this provided a new perspective altogether. In our response to the brief, weÂ’ve worked at both the ‘macroÂ’ level, referencing the Sun and planets of the whole Solar System, and the much more personal ‘microÂ’ level, centring our view of the world on the place the customer calls home,” said Rolls-Royce Bespoke design chief Michael Bryden. Bespoke Rolls-Royce Wraith 'Inspired by Earth' View 9 Photos The artwork on the hood might be the highlight of a first impression, but if you ask us, Rolls-Royce buried one of the Wraith's coolest touches pretty deep in its announcement: a headliner embroidered with the solar system, floating like a magnified night's sky over the earth-themed elements of the cabin surfaces.  "The seats are made from Moccasin leather to mimic the sands of the EmiratesÂ’ deserts; Navy and Cobalto Blue accents are suggestive of rivers and lakes and Emerald Green piping symbolises nature in all its forms. Arctic White ‘RRÂ’ monograms and stitching hint at clouds and translucent running water," the announcement says.  The result creates the impression of gazing toward the heavens from Earth, which sounds like a tranquil cure for standstill traffic.  Related Video: