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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.

These are KBB's Top Ten Green Cars for 2015

For the second straight year, the Top Ten Green Cars list from KBB (i.e. the acronym for Kelley Blue Book) should have been retitled KBBimmer. That's because the BMW i3 electric vehicle has topped KBB's list of greenest production vehicles for two years running. That means that having the lowest purchase price wasn't that big of a factor in determining the winner. KBB releases its list about this time of year every year in honor of Earth Day and this year not only praised the Bimmer for its performance and single-charge range, but also noted that its factory is powered by wind turbines, which gives the car and the company a few more treehugger points. Meanwhile, KBB didn't exactly surprise a ton of people by including models like the Chevrolet Volt extended-range plug-in (with a caveat that the next-generation version will be coming out next year), Nissan Leaf and Tesla Model S EVs and the Toyota Prius' four hybrid variants. Other somewhat lower-profile advanced-powertrain models to make the cut were the Honda Accord Hybrid, Toyota Camry Hybrid, Volkswagen e-Golf and Ford C-Max Hybrid. Rounding out the list was the Volkswagen Jetta TDI, the only diesel that KBB recommended as a Top Ten pick. Related Video: Featured Gallery 2014 BMW i3: First Drive View 33 Photos News Source: KBBImage Credit: Drew Phillips Green BMW Electric top 10

BMW electrifies the 2 Series Active Tourer with a plug-in prototype

BMW is developing a hybrid version of its 2 Series Active Tourer. At the company's Innovation Days 2015, we're finally getting to see the fruits of that electric labor with a prototype for a plug-in hybrid version of the front-wheel-drive hatchback. The Bavarians aren't keeping a secret that they intend to build a model like this in the future. But like the rest of the Active Tourer family, it's likely to remain unavailable to US buyers. BMW is already somewhat familiar with the realm of plug-ins with its i sub-brand and forthcoming X5 xDrive40e PHEV. This 2 Series Active Tourer is largely an adaptation of some of that tech. Up front, there's the company's transversely mounted, 1.5-liter turbocharged three-cylinder gasoline engine making 134 horsepower and 162 pound-feet of torque, and it's linked to a six-speed automatic gearbox. A generator on the front axle can also briefly boost output by 20 hp and 111 lb-ft, or help charge the rear-mounted battery. At the back is an electric motor making 87 hp and 122 lb-ft with a two-speed transmission spinning the rear axle. All of this is linked together via the Dynamic Stability Control to shuffle around power as necessary. The hybrid system generally prioritizes using electric power at speeds below 50 miles per hour and kicks on the engine from there. Depending on the settings, drivers can also force it into EV mode with a maximum range predicted at nearly 24 miles. BMW claims the 2 Series Active Tourer PHEV could get to 62 mph in a brisk 6.4 seconds, and the company estimates the setup can return the equivalent of 118 miles per gallon on the European cycle. While there's a lot of equipment to package together in this system, BMW claims that interior room is identical to the purely internal combustion version. The hybrid battery is under the rear seat, and propulsion for the back wheels is centered around the axle. As a prototype, the automaker isn't really talking pricing yet beyond stating buyers "do not have to pay a high premium for the technology." 2. BMW eDrive in the pipeline for further BMW models: The BMW 2 Series Active Tourer plug-in hybrid prototype. The advent of plug-in hybrid variants in various model series from the BMW brand is making all-electric driving with zero local emissions in a premium car a possibility for an ever-increasing number of target groups.