1970 Rolls Royce Silver Shadow 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.

Rolls-Royce commemorates end of Phantom with Zenith models

Rolls-Royce will discontinue the current generation Phantom in 2016 after 13 years. Rolls will also axe the Phantom Coupe and Drophead Coupe in November, and the company won't build new versions of them on its future platform. However, the automaker will send off the pair in style with special edition models. The Phantom sedan will eventually return on Rolls' future aluminum platform, which will underpin all of the company's models. Spy shots suggest minor design tweaks for the new generation Phantom, but there's no mistaking the massive vehicle's chiseled shape. The overall size should remain similar to the current one, but the lightweight metal and carbon fiber should dramatically reduce the weight. Rumors suggest it would still use a V12 for propulsion, and there could be a plug-in hybrid variant later. "I am proud and excited to announce that a new Phantom is on the way – a contemporary and beautiful Phantom enhanced with cutting-edge technologies and design innovations." Rolls CEO Torsten Muller-Otvos said. Rolls will also build 50 Zenith versions of the Drophead and Coupe to give the pair a proper farewell from the lineup. These special vehicles will include a Tailgate Hosting Area to party with class, laser-etched armrests that show the launch sites for the 100EX and 101EX concepts, custom instrument dials, a special version of the Spirit of Ecstasy, and more. "Zenith will be the sum of all the best features of Phantom Coupe and Drophead Coupe, with a few surprises added," Giles Taylor, the company's director of design, said. Related Video: ROLLS-ROYCE MOTOR CARS BRINGS SEVENTH GENERATION OF PHANTOM TO AN END Rolls-Royce Motor Cars Chief Executive Officer, Torsten Mueller-Oetvoes, has announced that the current Phantom will enter the last stages of its celebrated life in 2016. This announcement follows the recent news that Rolls-Royce Motor Cars has begun testing its all-new aluminium architecture, which will underpin every future Rolls-Royce arriving in-market from early 2018. He also announced that Phantom Coupe and Drophead Coupe models will not be renewed in the future. These two magnificent Phantom models will end their lives with a special collection of only 50 highly desirable cars to be called Phantom Zenith. The current seventh generation of Phantom started production in Goodwood over 13 years ago and quickly became the foundation upon which the renaissance of Rolls-Royce Motor Cars was built.

Rolls-Royce Cullinan test car takes the wheel — from a BMW 3 Series

The biggest, baddest Rolls-Royce will soon be here. We've seen spy shots the new Cullinan for months, but this is our first look at the SUV's interior. Though much of it is still covered, we can make out a few details hiding beneath the surface. There's no word on when the new Rolls will hit the streets, but look for a debut sometime this auto show season. At first glance, there seems to be a lot of parts taken straight from a BMW parts bin. BMW owns Rolls, so this shouldn't be too much of a surprise. Still, it's disappointing to see the steering wheel from a 3 Series in place of the handsome, thin-rimmed wheels you usually find in a Rolls-Royce. That said, this could simply be a temporary solution while the car undergoes development. The rest looks a lot like the new Phantom. This includes the digital instrument cluster and various switches and knobs. There really isn't anything new we can glean from the Cullinan's exterior. We've seen this all before. The rear doors are of particular note as they each appear to have two door handles. Look closely and you can see a regular one in the back and what appears to be another up front. The latter suggests it may have suicide doors, though it may simply be a trim piece meant to simulate that iconic Rolls feature. We'll have to wait for the full debut to find out more. Related Video: Featured Gallery Rolls Royce Cullinan Spy Shots View 12 Photos Image Credit: CarPix Spy Photos Rolls-Royce SUV Luxury