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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 to reach 4,000 units this year

Rolls-Royce is, by nature, an exclusive auto marque, but it has been steadily increasing its sales to the point that it could be looking at 4,000 units by the end of this year, setting a new record for the German-owned British automaker.
You don't even need to go back a decade to find Rolls-Royce sales hovering around the 1,000-unit mark. But that was when Goodwood only offered the Phantom saloon. The subsequent addition of the Phantom DHC and Phantom Coupe helped expand its portfolio, enlarged even further by the addition of the Ghost in 2010, by which time total sales were reaching 3,000 units.
The Spirit of Ecstasy marque has been hovering around the 3,500 mark ever since, but with the Wraith now in the mix and its reach extending into growing markets around the world, Autocar reports that global sales could top 4,000 units this year. (Of course that pales in comparison to one-time sister brand Bentley, which topped 10,000 deliveries last year, but Rolls-Royce typically competes at a higher price bracket.)

Rolls-Royce Phantom DHC gets special Nighthawk treatment

We see info on a lot of special edition Rolls-Royces coming across our desks here at Autoblog, and most of them are destined for some far-flung Asian market. But not this one. This one is just for North America. It's called the Nighthawk edition, and it's based on the Phantom Drophead Coupe (Rolls-speak for "convertible"). It made its debut in Phoenix during the Super Bowl, but Rolls has just released the full skinny on it now. Limited to just nine examples, the Rolls-Royce Phantom DHC Nighthawk edition is "inspired by the sleek yet bold designs of stealth aircraft," the most iconic of them known as the F-117 Nighthawk. The Rolls cabrio features a metallic black paintjob with a matte black hood and windscreen frame and an interior decked out in carbon fiber trim, black and red leather and instruments with glowing orange tips. It's a stark take on a decidedly luxurious automobile, and only goes to show the extent to which the Rolls-Royce Bespoke department can transform one of its vehicles. ROLLS-ROYCE PHANTOM 'NIGHTHAWK' MAKES A BOLD NORTH AMERICAN DEBUT IN PHOENIX ARIZONA The latest Rolls-Royce exclusively created for North American customers has arrived in Arizona this evening. The first of nine Phantom Drophead Coupe 'Nighthawk' Bespoke Collection cars hit the streets of Phoenix, featuring bold design and a low profile inspired by stealth technology in modern aerospace development. 'Nighthawk' features a combination of modern materials and subtle colour to create a new contemporary interpretation of a classic Rolls-Royce motor car. Following its first public drive in Phoenix, Arizona this evening, 'Nighthawk' will be on display to millions of Americans during the festivities surrounding Super Bowl XLIX. Phantom Drophead Coupe 'Nighthawk' Collection These nine stunning Phantom Drophead Coupes showcase the unique design capabilities of Rolls-Royce Motor Cars' Bespoke team, and are now available through the company's 41 North American retail dealers. Inspired by the sleek yet bold designs of stealth aircraft, 'Nighthawk's' designers have used cutting edge technology and materials to ensure the stunning Rolls-Royce Phantom Bespoke Drophead Coupe will not go unnoticed. Incorporating the latest design and technology with the super-luxurious hallmarks of the brand, 'Nighthawk' features a lustrous Diamond Black Metallic paint with a Matt Diamond Black bonnet. The windscreen surround design is inspired by radar-absorbent material (RAM) coating used in aviation.