2005 Mini Cooper S Convertible 2-door 1.6l on 2040-cars

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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.

EPA: Four 2014 Mini Cooper models need to drop mpg numbers

After the huge problems that Hyundai/Kia experienced with its mislabeled fuel economy labels, you'd think that any time an automaker has to adjust its mpg numbers, heralds would be shouting from the rooftops. But, after Ford admitted to three big mistakes with its numbers for the 2013 C-Max Hybrid and Mercedes-Benz had to lower the fuel economy rating for the C-Class, we understand if those heralds are a bit tired by now. The models affected include the 3-door and the 3-door S. Still, today's news is that BMW has to lower the fuel efficiency numbers for four versions of the 2014 Mini Cooper thanks to an audit conducted by the EPA and then some joint re-testing. The models affected include the 3-door with the 1.5-liter engine and the 3-door S with its 2.0-liter powerplant, with both manual and semi-automatic transmissions. As with the Benzes, the rating changes are not big ones, around one or two miles per gallon. The big exception is the manual S 3-door's highway number, which lost four mpg from 38 to 34. You can see all the numbers, new and old, in the press release below, but the EPA isn't saying what caused the problem this time. The Agency's new test procedures can't come fast enough. It should be noted that the 2015 Mini Cooper was recently delayed a bit because of the extra time it took to get the EPA numbers right. There's no confirmation that these two items are connected, but we would not be surprised to hear they were. EPA Requiring BMW to Correct Fuel Economy Labels for Four Mini Cooper Vehicles Washington - The U.S. Environmental Protection Agency (EPA) is revising estimates for four 2014 BMW Mini Cooper vehicles to ensure consumers are given accurate fuel economy values. The EPA performed a fuel economy audit on the BMW Mini Cooper and obtained values that differed from those BMW submitted to EPA for certification. With EPA oversight, BMW conducted new emissions and fuel economy testing, and EPA conducted its own testing at its National Vehicle and Fuel Emissions Laboratory in Ann Arbor, Michigan. As a result of this subsequent testing, EPA is requiring BMW to relabel four of its 2014 Mini Cooper models with lower fuel economy values. The specific changes to fuel economy stickers are listed in the table below.

The electric Mini SE crushes its EPA range estimate in our real-world test

The range meter of my fully charged 2020 Mini Cooper SE reads 110 miles as I fasten my seatbelt, which is hardly a surprise because that number matches the official EPA-certified range of this all-new electric car. But then I turn on the climate control system, at which point the range prediction promptly falls to 103 miles. “Uh-oh. This could get interesting,” I say to myself. My range test course, you see, is a vast loop that measures about 105 miles around. I donÂ’t really think IÂ’ll end up walking, though. I remind myself that most electric cars IÂ’ve tested — the Porsche Taycan among them — routinely outperform their rated range. But “most” is the operative word in this train of thought, so I ease out of my driveway to begin the test under a tiny cloud of uncertainty. Will the Mini Cooper SE prove to be one of the outliers? Will I encounter any low battery warnings? All will become clear in the next three and half hours. None of my initial hand-wringing should be taken to mean the MiniÂ’s rated range of 110 miles is somehow insufficient. ItÂ’s not, in my view. The length of my course has no special meaning. It doesnÂ’t represent the “right” number of miles. How the test was run My loop in Orange County, Calif., represents what I call typical suburban city driving. ItÂ’s not as dense as the notorious gridlocked areas found in West Los Angeles or certain big-city downtown environs, so itÂ’s applicable to the vast majority of drivers. It features suburban residential and arterial streets, with speed limits that range from 25 mph to as much as 60 mph. But thereÂ’s no pure freeway mileage, and the entire route is peppered with more than 310 signals. As for elevation, it ranges from sea level to just over 600 feet. I run with the automatic climate control system set within the range of 72 to 75 degrees, aiming to settle on one specific setting throughout that delivers adequate comfort. IÂ’ll try whatever Eco drive mode there is, but if throttle response is anemic IÂ’ll use the normal setting. Here, the default mode is the “green” mode, and IÂ’m sticking with it because the SEÂ’s driveability is totally agreeable. As for speed, IÂ’m running mid-pack between the leadfoots and the slowpokes. I wonÂ’t try to out-drag anyone leaving signals, and I look far enough ahead that I can choose the best lane and anticipate when the next signal is going to change. In short, IÂ’m aiming to land halfway between hypermiling and hyperactive.