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Mini will launch two additional crossovers to expand its footprint

Mini will maximize its global potential by releasing two crossovers during the 2020s, according to a recent report. The first will bolster the firm's electrification efforts, while the second will be positioned at the top of its range. The BMW-owned company's vast heritage makes expanding its presence in the crossover segment a tricky proposition, but executives believe they've blazed a way forward. The Countryman's first high-riding sibling will be an electric model developed jointly by Mini and China-based Great Wall Motors and built in the latter's home country. BMW announced the joint venture in late 2019, though it didn't specify which vehicle(s) it would build. Autocar learned the model, which could resurrect the Paceman nameplate, will be about as big as the current-generation X1, meaning it will slot slightly above the Countryman (pictured) in terms of size. It will arrive as a four-door soft-roader built on a platform developed through the joint venture, and it will benefit from a new generation of batteries manufactured without cobalt, an element mined in often-difficult conditions. Mini will dig even deeper into its past to name the second crossover it's working on. Executives favor the Traveller nameplate, which was introduced in 1960 on a Morris-badged version of the Austin Mini Countryman wagon. The model will inevitably become the poster child of the company's ongoing un-Minization process, but it should play a significant role in turning around its fortunes in key markets like the United States and China.  "The Countryman is a small SUV. In the United States and China, there are certain needs. We will look at a compact SUV in the next generation. There are lots of benefits with a car like that for urban use. For me, it's a good match," said Bernd Korber, the company's boss, in an interview with the magazine. Upsizing Mini's image will require borrowing the CLAR architecture currently found under BMW's X3, X4, X5, X6, and X7, though don't expect a jumbo-sized people-hauler masquerading as a city car. "We can stretch the interpretation of Mini always being the smallest, but I can't imagine being bigger in a segment. We need to fulfill a requirement on size," Korber stressed. It sounds like, size-wise, the Traveller may fall between the X1 and the X3. BMW's CLAR platform will make the Traveller the first Mini equipped with a longitudinally-mounted engine, and its first rear-wheel drive production car.

Cargo ship carrying 1,200 Jaguars and Land Rovers deliberately run aground [w/video]

A cargo ship carrying a load of new cars out of Southampton has run aground in the English Channel in between England and the Isle of Wight. The vessel apparently suffered some sort of failure just 45 minutes after leaving port that caused it to list heavily to the starboard side before the crew deliberately beached it on Bramble Bank to prevent the ship from capsizing altogether. The vessel, called the Hoegh Osaka, is a 590-foot car carrier weighing some 57,000 tons and registered in Singapore. Although several automakers (including Honda and Bentley) were reportedly looking into whether they had cars on board, the vessel is said to have been filled to approximately one-third its capacity, with 1,400 vehicles on board – including 1,200 Jaguar and Land Rover vehicles, 65 Mini models and one Rolls-Royce Wraith. 70 to 80 pieces of construction equipment were also said to be on board. The Hoegh Osaka was en route from the southern British port of Southampton to Bremerhaven, Germany. Fortunately, no major injuries have been reported. The crew was mostly airlifted by helicopter off of the beached ship, with two crew members evacuated by lifeboat. One crew member reportedly jumped over 25 feet off the ship into the water before being immediately retrieved by rescue workers. According to the Daily Mail, two crew members were treated for non-life-threatening injuries, including a broken leg. It may take several days, if not longer, to extract the vessel from the sand bank and ascertain the damage to the ship and its cargo. An early attempt to free the ship with tugboats failed, meaning that the Maritime and Coastguard Agency may have to wait until more favorable high tides to try again before towing the ship back into the port. Bramble Bank, where the vessel was run aground, is a well-known obstacle to maritime navigators. The Queen Elizabeth 2 ran aground there in November 2008 with 1,700 passengers on board, but was quickly freed by four tugboats and was able to continue on its way. Two local yacht clubs also play a cricket match there every year at low tide. The vessel's operator, Hoegh Autoliners, praised the skill and quick thinking of the crew in acting to prevent the ship's capsizing by running her aground on the soft, sandy shoal. Watch the clip below for aerial footage of the beached ship, courtesy of the BBC. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

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.