2005 Bmw 645ci Silver Convertible,black Leather Interior, Sports Package 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.

BMW's DriveNow car sharing shutting down in SF next month

BMW's DriveNow car-sharing service is suspending operations in San Francisco next month after more than three years. The culprit? Not enough parking spots in the City. BMW debuted both DriveNow car-sharing and its ParkNow service in the City by the Bay in August 2012, initially launching with the ActiveE plug-in vehicle and later moving over to the i3. While there probably wasn't a shortage of folks looking to drive those cars, it was the ending part of that equation that proved problematic. That's because San Francisco hasn't been able to clear out enough street-parking spots to make the program work properly, despite adding 80 spaces for the 150 cars in the program back in 2014. "We hope to return to San Francisco in the future and will continue to engage with the City on possible solutions that will allow you to experience the full benefits of our one-way car sharing service," said DriveNow CEO Richard Sternberg on the company's website. "In the meantime, we are focusing our efforts on new cities where our transportation solution can flourish. We would like to thank you for your loyal support and embracing flexible car sharing as an alternative transportation method." As far as that expansion to other US cities, BMW hasn't been specific. Bimmer also runs the DriveNow program in three Germany cities as well as Copenhagen, Vienna and London. So, DriveNow apparently has an easier time finding parking spots in London than in San Francisco. Why BMW couldn't use a flexible parking system for its one-way rentals like the similar Car2go program uses remains a mystery. Related Gallery BMW i3 Available Through DriveNow In Germany View 17 Photos News Source: DriveNow via BMW BlogImage Credit: DriveNow/Facebook Green BMW California parking drivenow

BMW X4 slantback is nearly here

Another day, another new BMW spied. Sometimes it feels like Bimmer is developing so many new models that in the future, every buyer will get their own unique car. The latest one spied is the upcoming BMW X4 that was launched as a concept nearly a year ago. The Bavarians still see a need to camouflage the rear end of its prototypes, though.
As you can see, the production version is hewing very closely to the concept. If you peer around the camo, the headlights have the same shape, but the foglights are a new addition. The rear roofline seems quite similar to concept, too, but the back end is still somewhat more mysterious because the masking and dirt hide a lot. Still, it doesn't seem like the production model is going to be radically different from the concept based on the previous test cars we spied in the past. It also strikes us as very similar in size and form to the already available 3 Series Gran Turismo, with which it is expected to share a great deal.
Our wait might not be very long to see the midsize German CUV undisguised, because the X4's debut is rumored for the New York Auto Show on April 16 with a reveal as early as March 14.