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BMW looking to save billions with cost cuts

BMW is planning a fairly extensive overhaul in a bid to recoup some its annual costs, with CEO Norbert Reithofer (pictured above) aiming to save three to four billion euro ($4 to $5.4 billion) per year to help keep the company's profit margins between eight and 10 percent, while also maintaining investments in production expansion and new tech. BMW's profit margins sat at 9.4 percent in 2013.
According to Automotive News Europe, Reithofer is none too pleased about costs at Mini and on the 1 Series, although neither AN nor its source story, from Germany's Manager Magazin, elaborate on what steps could be taken to improve losses on either project. That makes it hard to figure out just where the fat will be trimmed from.
What may happen, though, is that BMW attempts to trim 100 million euros ($135 million) from its German labor costs each year; a solution hinted at a few weeks ago by Germany newspaper Muenchner Merkur. While a dramatic cost reduction, 100 million euros still doesn't begin to even approach the savings envisioned by Reithofer.

2016 Mini Convertible puts the tanning salon on wheels

Here's a basic tenet of the Mini product schedule – a new generation Mini Hardtop debuts and then, within a year or two, it's followed by a convertible variant. Considering this, the debut of the third-generation Convertible – less than two years after the third-gen hardtop – is right on schedule. Slated to arrive in dealers right in time for the start of the 2016 convertible season, the latest Mini Convertible doesn't really shock. It takes the same basic look below the beltline, and pairs it to a power-folding softtop that does a much better job of maintaining the Hardtop's iconic silhouette. That said, the size of that "C-pillar," for lack of a better phrase, is immense. We doubt this new model will do anything to improve on the last Convertible's awful blind spots. Mechanically, the soft top can be raised or lowered in just 18 seconds and at speeds of up to 18 miles per hour. Like the two generations of Convertible that came before it, this latest droptop uses the same engine lineup as the three-door model. For the standard Cooper, BMW/Mini's 1.5-liter, turbocharged triple is still offering up 134 horsepower, 162 pound-feet of torque, and a 0-60 time of 8.2 seconds with the automatic and 8.3 seconds with the manual. For the Cooper S, the 2.0-liter, turbocharged four-cylinder dishes out 189 hp and 207 lb-ft of torque, along with 0-60 times of between 6.7 and 6.8 seconds, depending on the transmission. Those gearboxes have also been plucked from the Hardtop models, with standard six-speed manuals and optional six-speed automatics, regardless of engine. Yep, that's right, the excellent eight-speed auto from the Mini Cooper S Clubman isn't being offered on the Cooper S Convertible. We've got a huge array of photos of the new Mini Convertible, which puts a particular emphasis on the handsome, droptop-specific Caribbean Aqua of the base Cooper. Check out the photos, and then scroll below for the official press release from Mini. Related Video: OPEN DRIVING EXCITEMENT: INTRODUCING THE NEW MINI CONVERTIBLE Open Driving Excitement: Introducing the New MINI Convertible Newest member of MINI lineup goes on sale in U.S. in March 2016 First open top MINI powered by BMW Group engine technology and architecture Woodcliff Lake, NJ – October 22, 2015 – MINI USA introduced today the newest addition to its iconic product line, the new MINI Convertible.

500-hp Acura V6 turns this classic 1974 Mini into a mid-engined sleeper

Originally designed on a napkin, the world-famous Mini launched by the British Motor Corporation (BMC) in 1959 was envisioned as a cheap, practical city car for families on a budget. Now, 61 years later, it's a sought-after classic that many aftermarket companies hail as the ideal foundation on which to build their wildest dreams. Gildred Racing thought further out of the box than most by turning a Mini into a mid-engined, 500-horsepower sleeper. Starting with a 1974 model, the California-based firm removed the original four-cylinder engine (and the four-speed manual transmission bolted right under it, where you'd normally expect to find the oil sump) and completely stripped the interior. Only the front seats ended up going back in; the space occupied by the tiny rear bench is now home to a 3.2-liter V6 that started life under the hood of an Acura CL Type S from the early 2000s. It's mounted transversely, and it spins the rear wheels via a six-speed manual transmission. Acura quoted the six's output at 260 horsepower, which would be a healthy upgrade for the little Brit, but Gildred tuned it to 500 horses and 383 pound-feet of torque by making a long list of modifications (including, significantly, adding a supercharger). That's a 466-horse increase compared to a stock 1974 Mini 850, so the scope of chassis upgrades is long. It includes bigger brakes made by Wilwood, and a fully redesigned suspension. And, although packaging a V6 in a small, front-wheel drive car like the Mini was as challenging as it sounds, Gildred pulled it off admirably. The engine bay is now home to the fuel tank and the radiator, while opening the trunk reveals a huge exhaust. The trade-off, of course, is that there's no longer a trunk, but it's a sacrifice we'd happily make. Performance specifications haven't been released yet. Gildred simply said its 1,400-pound Super Cooper is "quite impressive," which we believe. The original wasn't; it took 34 seconds to reach 62 mph from a stop. Gildred also made several changes in the name of modernity. It added a 9.7-inch iPad where you'd expect to find a touchscreen for the infotainment system in a modern car, an Alpine sound system, a push-button ignition, power locks and windows, LED headlights, plus automatic A/C. We imagine the whole cabin gets hot when the V6 works up a sweat. The passengers sit on leather- and suede-upholstered Recaro bucket seats that are heated and cooled.