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European car sales up 8% in February

Three weeks ago an analyst increased projections for European car sales this year, expecting them to climb three percent compared to last year instead of 2.7 percent. That number is a postive sign after years of hard times but it turns out February was especially good, overall European sales climbing eight percent on a wave of southern European recovery and discounts - and this comes after five months of gains including January's 7.2-percent jump over the year before.
The only country of Europe's five largest markets to post a decline was France, just as it did in January, Germany, the UK and Italy posting solid double-digit numbers, Spain rocking the charts with an 18-percent increase because of a government program to encourage trade-ins.
The only brand to miss the wave was Volkswagen, dropping 0.8 percent as it watched the double-digit growth at sister brands Audi, Seat and Skoda lift the Volkswagen Group sales up by seven-percent. Peugeot overcame flat sales at Citroën to improve the group by 3.5 percent, BMW and the Mercedes-Benz/Smart combo rose by four percent, the Fiat group jumped 5.8 percent, Ford was up 11 percent, the Renault Group 11.5 percent, General Motors 12 percent and the Toyota clan by 14 percent.

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.

2016 BMW 435i ZHP Edition Coupe Quick Spin [w/video]

BMW will make a total of 100 ZHP 435i coupes for 2016. This is not one of them. Nope, it's their predecessor, what the company calls a "replica," based on a 2015 car. Think of it as Car Zero. Bimmer nerds (the ones who correct you if you call their car a "Beemer") will remember the ZHP package from the E46 3 Series. An internal option code that became insider lingo and a must-have for enthusiasts. They're still sought after today. Built from 2003 to 2006, the original ZHPs included a power boost (to 235 hp), a modified suspension, an M-Tech II body kit, and a unique shifter and shift knob. The new ZHP has a considerably longer list of equipment. It builds on a 435i coupe with the M Sport package and either a manual or automatic transmission. Additions begin with the new-for-2016 Track Handling package – 18" wheels, M Sport brakes, the Adaptive M Suspension, and Variable Sport Steering. To that BMW adds an M Performance limited-slip differential, M Performance exhaust, the M Performance Aerodynamics package, and the M Performance Engine Kit; horsepower goes from 300 to 335, torque jumps to 332 lb-ft for automatic cars or 317 on manuals. Yeah, it's a lot of stuff, but nothing you can't order on a car for yourself. So the process that let BMW make this replica so easily also contributes to a lack of specialness. All of the equipment is available either from the factory or through BMW's VIA personalization program. VIA components are spec'd at the time of ordering and then installed at port when the car lands in the US. BMW hasn't announced pricing yet, but we have a hunch a full-on ZHP will come in slightly lower than a car optioned a la carte (though we don't know, since BMW didn't tell us how much our car cost). The 4 Series we reviewed had all the ZHP equipment save the wheels and tires. All 2016 ZHPs will get v-spoke wheels finished in Orbit Grey and wrapped in Michelin Pilot Super Sport tires; the car we drove had a different 18-inch wheel design and Bridgestone Potenza S001 rubber. Driving Notes The 435i already has too much power. The M engine kit provides more of it. You may not be surprised to learn that we also enjoy chocolate-covered chocolate. Perhaps the saving grace of the questionable output bump, and the most transformative part of this package, is the mechanical limited-slip. Even without the grippier tires it's supposed to come with, the near-ZHP put it all to the ground smoothly and predictably.