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Automakers are getting nervous about Europe's economy

Carmakers BMW and Stellantis on Thursday expressed concerns about Europe's economic outlook, joining a chorus of retailers and others in warning of waning consumer confidence on the continent and hitting their shares. "Obviously the macro(-economic situation) in Europe is more challenging, which gives me pause, personally," Stellantis chief financial officer Richard Palmer said on a conference call with analysts. "If there was anywhere where I was more concerned, it would be Europe than anywhere else really based on the macro." This follows a dire assessment of consumer sentiment in Europe from the likes of consumer goods company Unilever and news of lower spending by Europeans from Amazon. Like other major auto companies, Stellantis and BMW have been hit by supply chain disruptions stemming from the global coronavirus pandemic that have curtailed car production. They have also benefited from strong consumer demand amid low vehicle supply, allowing them to raise prices and keep them high even as the semiconductor shortage shows signs of easing. BMW posted a 35.3% jump in third-quarter revenue despite a small drop in vehicle sales. Stellantis said its revenue rose 29% on the back of a 13% increase in vehicle sales as more semiconductors became available. The concern among analysts has been that demand may falter, just as carmakers get their hands on the supplies they need, undermining pricing and hurting profits. But this week Ferrari said it was confident about its prospects for this year and 2023 as demand for its luxury cars, as well its pricing power, remained strong. Both BMW and Stellantis said on Thursday they had vehicle order books that stretched into the second quarter of 2023. But BMW's chief financial officer Nicolas Peter said high inflation and rising interest rates could hit buyers' wallets. "This is causing conditions for consumers to deteriorate, which will affect their behaviour in the coming months," he said. "We therefore continue to expect our higher-than-average order books to normalise, especially in Europe." He added customers had been unhappy about the wait for new cars, so "a slight reduction (in orders) would not be negative." Palmer said Stellantis was "ready for any softness in demand" but in the short term had been affected by a shortage of drivers to deliver its cars to dealers. "At the moment, we can't build enough cars," he said.

Next Jaguar F-Type rumored to get BMW M-sourced 4.4-liter twin-turbo V8

Unless we're discussing the Porsche 911 or Chevrolet Corvette, trying to predict the future of any sports car out there would stump even Miss Cleo. Reportage takes a walking dead theme, as with the next-generation Audi R8. Or it delves a succession of intel from "reliable sources" on every possibility, each one wilder than and incompatible with the last. The newest turn in the rumor cycle for the next-gen Jaguar F-Type says Jaguar's coupe will be fitted with a BMW-sourced 4.4-liter twin-turbo V8. The gossip comes courtesy of Georg Kacher writing in Car magazine. It closes the loop Kacher opened in 2016 when, writing in Automobile, he said BMW was hammering out a deal to provide V8 engines for the top-end Jaguar and Land Rover products. The deal would put more money in BMW's pockets for an engine that's expensive to develop but doesn't sell in large numbers, while weaning Jaguar off the thunderous and thirsty Ford-sourced 5.0-liter supercharged V8. We haven't heard anything else about that deal in the meantime. Since Kacher says the next F-Type will come in 2020, it seems the coupe would be the first car in the JLR range to get BMW power — specifically, BMW M Power. The 4.4-liter V8 codenamed S63 by BMW, but supposedly codenamed Project Jennifer inside JLR, makes 560 hp in standard form, or 625 hp in the M division's Competition vehicles. The current F-Type R Coupe puts out 550 hp, the SVR Coupe puts out 575 hp. However, the cloud of F-Type rumors is wide and nebulous. The head of JLR North America said last year that every product launched after 2020 will have some form of electrification, and we haven't heard of any hybrid plans for the 4.4-liter S63 V8. The next BMW M3 is said to get some sort of hybridization, but that sedan uses an inline-six. When Road & Track spoke to Jaguar design head Ian Callum earlier this month at the Paris Motor Show, the mag asked about a hybrid F-Type. Callum said electrification "is not necessarily the plan," adding, "There's not a plan, to be honest with you." He said what he'd like to do is "a mid-engine-style electric car." When Auto Express reported on Callum's wish, the mag called the product "a hybrid mid-engine supercar" with " dreams of taking on the McLaren 570S and Audi R8," using a V6 engine and powertrain components from the I-Pace. As a pure electric or a hybrid vehicle, this could be a way to get a C-X75-inspired sports car on the road, but it's not an F-Type replacement in either soul or price.

BMW i3 with range extender won't get all the EV tax benefits in NJ

Everyone loves that new-car smell, but not everyone loves that new-car tax. And whoever in New Jersey thought the extended-range version of the BMW i3 plug-in would be exempt from said tax was sorely mistaken, Green Car Reports says. To paraphrase the Garden State's favorite son, Bruce Springsteen, the first kick those drivers will take is when they hit the ground. BMW said last year that the BMW REx would qualify for new-car tax exemptions in New Jersey and in Washington State. The car's all-electric range was recently estimated at 72 miles and it has another 87 miles of gas-powered range-extended capability. Unfortunately, the range extender not only tacks on $3,850 to the car's sticker price but adds on almost that much again because New Jersey's seven-percent sales tax applies to all cars with any sort of gas-powered engine. BMW didn't respond to a request for comment about the New Jersey situation from AutoblogGreen. In other New Jersey electric vehicle news, the Consumer Affairs Committee of the New Jersey State Assembly will discuss the legality of Tesla selling directly to consumbers tomorrow. The extended-range i3 is involved in a different issue on the other side of the country. BMW said earlier this year that the REx would qualify for California's white zero-emission vehicle stickers that allow for solo access to high-occupancy vehicle (HOV) lanes. These unlimited white stickers can go on any EV, but the REx version only qualifies for the green stickers, which are designated for plug-in hybrids and extended-range plug-ins and the state has run out of those.