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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.

Coming Toyota Supra to forgo hybrid, get a BMW six-cylinder turbo?

For years, almost all of the talk about the Toyota FT-1 concept becoming a resurrected Supra envisioned a hybrid under the hood. And then the latest take on Future Toyota 1 showed up at the 2014 Detroit Auto Show and - although Toyota wouldn't say a word about any engine at all - horizons began to expand. Imaginary fancies were aided by the news that Toyota had partnered with BMW to develop a sports car on the next-generation BMW Z4 platform, which would necessarily mean an engine bay designed to accept an old-fashioned hunk of gas-burning iron-working solo. Car and Driver now turns the whole thing around, reporting that there will be an inline-six with forced induction provided by BMW under the hood. What about that hybrid, though? The report states, "there's currently no indication that the Silk Road cars will offer hybrid options" - 'Silk Road' being the codename for the jointly-developed vehicles. CD makes a point to note that said tidbit came from Germany, not Japan. However, designers at Toyota's Calty studio did tell Automotive News last year that they designed the body with an inline-six in mind, a nod to the Supra's history. Hybrid rumors aren't dead yet, though - remember, we were hearing about all-wheel drive and supercapacitors in May 2014. The coupe is predicted to be a 2018 model, making its appearance sometime in 2017, and be "about 10 percent" smaller than the FT-1 concept. Related Video:

2017 BMW M760i xDrive is an M and a 7, but not an M7

It's still not a proper M7, but the BMW M760i has a lot to offer. For one, it comes with BMW's silky smooth, 6.6-liter V12, good for 600 horsepower and 590 pound-feet of torque. It looks elegant, even in its Geneva Motor Show-spec shade of matte gray. In terms of baller status Bimmers, this is top-shelf stuff. Or is it? As I discussed in the earlier M760i post, the newly announced Alpina B7 xDrive has just as much power, is quicker to accelerate, and will run to a higher top speed. No, it doesn't come with that awesome V12, but it's a frickin' Alpina, complete with those super rad 21-inch wheels. But I digress. The M760i xDrive (that's all-wheel drive) is quite a beast to behold, and I'm sure it'll stack up nicely with the Mercedes-Benz S600s and Audi A8 W12s of the world. Check it out in the galleries above and below. View 18 Photos The All-New 2017 BMW M760i xDrive. - Superb performance and exceptional luxury combined. - The allure of the most powerful BMW V12 production engine. - First BMW 7 Series M Performance Automobile. Today, BMW announced the all-new BMW M760i xDrive, the latest addition to the BMW M Performance line-up. With the introduction of the 2017 BMW M760i xDrive, the sixth generation BMW 7 Series adds the first M Performance TwinPower Turbo 12-cylinder to its offerings. The all-new BMW M760i xDrive combines luxurious driving, style, safety and innovative technologies while embodying M Performance dynamics with the integration of the first 12-cylinder gasoline engine with M Performance Twin Power Turbo technology. The BMW M760i xDrive will arrive early in 2017 and MRSP will be announced closer to launch. The allure of the most powerful BMW V12 production engine. The M Performance TwinPower Turbo 12-cylinder gasoline engine in the new BMW M760i xDrive has a displacement of 6,592 cc, developing 600 hp (preliminary figure) at 5,500 rpm and peak torque of 590 lb-ft from as low as 1,500 rpm. These performance figures enable the luxury sedan to accelerate from 0 to 62 mph in just 3.9 seconds (preliminary figure) and on to a governed top speed of 155 mph. During the development of the all-aluminum block, the engineers focused on maximizing rigidity while also minimizing weight. Using a closed- deck construction combined with bolts holding the cylinder head down on the bed plate of the crankcase, the engine ensures maximum stability on the cylinder liners.