Certified Cpo X5 35i Nav Navigation Convenience Bluetooth Heated Seats Bluetooth on 2040-cars

Auto blog

BMW confirms new Mexican plant

After over a year of speculation, BMW is finally officially announcing that it's building a factory in Mexico. The new plant will cost the German automaker roughly $1 billion US and will have a capacity of about 150,000 vehicles a year when complete. However, production won't begin there until 2019.
The new factory is being built near the city of San Luis Potosí, Mexico, with plans to employ about 1,500 people. Unfortunately, BMW is still mum about which models it's producing south of the border. Earlier rumors indicated the possibility of the 3 Series, 1 Series and maybe even Mini models there.
BMW says Mexico's multiple free trade agreements are a major factor in the choice of location of the plant. They make it possible for the automaker to ship models more cheaply to North America, parts of South America and the European Union. "The Americas are among the most important growth markets for the BMW Group. We are continuing our strategy of 'production follows the market,'" said Harald Krueger, the board's head of production, in the company's official announcement.

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 to show car that can park itself in a multi-story garage at CES

Automatic parking systems are something of a novelty, in their present form. Sure, modern parallel parking systems work well enough. And they're great if you lack the special awareness required to complete such a task. But frankly, how often is the average owner of such a system in a position to use it? Perpendicular parking systems, meanwhile, are basically an admission that you don't really deserve a driver's license. Novelties these systems may be, but they promise a future where we won't even need to be behind the wheel to park our cars. BMW is going to deliver a vision of that future at the 2015 Consumer Electronics Show with the Remote Valet Parking Assistant, a smartwatch-activated system that takes the driver out of the parking equation and replaces them with an advanced collision avoidance system. Fitted to an i3 for CES, the BMW system relies on four laser scanners to map the surrounding environment and identify obstacles. Combined with a digital site plan for a building, the company claims its car can navigate its way to an open parking spot, moving around even unexpected obstacles like improperly parked cars. The car's owner can step out of the vehicle at the intended destination, and then tap the smartwatch app for vehicle parking and retrieval. BMW claims this system will allow more precise control than GPS, particularly in something like a multi-story parking deck. While it's an intriguing route with autonomous technology, we wonder how much is required of these digital site plans. There are more practical uses of this technology, beyond valet parking. According to BMW, the collision-avoidance technology can aid a driver in low-light conditions, automatically braking the car for its driver when an obstruction is detected. Look for more on BMW's Remote Valet Parking system as the 2015 Consumer Electronics Show approaches. Until then, scroll down for the full press release. BMW Innovations at the 2015 Consumer Electronics Show (CES) in Las Vegas. 360-degree collision avoidance and fully-automated parking in multi-storey car parks. BMW Remote Valet Parking, CES 2015. (12/2014) Munich/Las Vegas. BMW was already demonstrating at the Consumer Electronics Show (CES) 2014 how perfect control technology can provide highly automated mastery of all drive statuses right through to very tight margins.