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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.

2025 Mini Countryman First Drive Review: Mini no more

CASCAIS, Portugal — LetÂ’s cut straight to the issue of size. If the original Mini was a sporting beagle ready for the hunt, the reborn version that hit the world stage in 2001 may have been an English bulldog, albeit bred in Germany, its parents being the engineers and coffers of BMW. From there, the Mini brand has grown in size in regular increments, culminating with the 2025 Mini Countryman thatÂ’s the subject of this review. The first Countryman that we first tested in 2011 was comparatively large for the brand, but was suitably mini by SUV standards. Its stocky proportions moved it well into the working dog class. And then the second-generation Mini Countryman debuted for the 2017 model year, gaining 8 inches in length and more than 5 inches of width over its predecessor. We described it as “still in keeping with the brand's ethos from the very beginning when Alec Issigonis created a car that was microscopic on the outside but disproportionately spacious inside.” Nevertheless, it was starting too look a little husky, if you catch our drift. Consider the 2025 Mini Countryman a mastiff, then. Compared to the second-gen Countryman it replaces (which, as we already pointed out was much larger than the first edition), the new version is 5.1 inches longer, 2.4 inches taller and 0.8 inch wider. This translates into additional interior space for passengers and cargo, but adds an awful lot of visual and physical girth to something wearing a badge that literally calls out a diminutive size. The proportions are well considered, but parked next to the old car, the new Countryman sticks out like a sore thumb. Literally, like one thatÂ’s swollen post-accidental-hammer strike. When the full Countryman model lineup is available Stateside, a base model may well be included, but at least for the start of 2025 production the lineup will start with an S edition for $39,895 that will have 241 horsepower and 295 pound-feet of torque. WeÂ’re not driving that today. Instead, the subject of this review will be the only other gas-powered Countryman: the high-performance John Cooper Works edition or JCW. The new Countryman JCW starts at $47,895 and is powered by a 2.0-liter turbocharged four-cylinder that spins out 312 ponies (up from 301) and 295 pound-feet of torque (unfortunately down from 331) to all four tires through a seven-speed dual-clutch gearbox and MiniÂ’s ALL4 all-wheel-drive system.

Mini Superleggera patent renderings suggest production prospects

Mini impressed us all when it revealed the Superleggera Vision concept at the Paris Motor Show a couple of months ago. But even before the little roadster concept debuted, there were already rumors of its production potential. And those rumors are only being further entrenched by the emergence of a series of patent renderings. Bearing much more than a passing resemblance to the concept, these images show what could be a revised, production version of the Superleggera, though not without its concessions to reality. For one thing, it looks like it's got a proper framed windshield, but it's hard to tell with the roof in place – something we never saw on the concept, either. It's also got more substantial wing mirrors, but the fin on the rear deck is still there, as are the extractor vents on the hood. We also note that the grille openings are the same shape as the concept's. Of course, the emergence of these images and their filing with the relevant authorities doesn't necessarily mean that Mini is moving ahead with the roadster's production. But if it did, it would likely ditch the concept's electric powertrain, and could stand to fill the void left by the discontinuation of the maligned, outgoing Mini Roadster that was essentially a scrunched Cabriolet with a cowling where the rear seats and stacked roof would be. Parent company BMW is likely taking into account that its rival Daimler didn't have much luck when it slotted a unique roadster of its own into the Smart lineup, so here's hoping that if it does give the Superleggera the green light, it'll have more success in the marketplace.