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Rolls-Royce Phantom Metropolitan Collection wafts into the annals of exclusivity

Limited-edition, hand-built cars are kind of a bizarre thing. On the one hand, people pay umpteen amounts of money for bespoke cars, with the manufacturer adding that iconic descriptor to all its press materials, but then the company goes and produces 20 of the exact same car and sells them as a "special edition." It seems kind of contradictory.
Rolls-Royce must not see it that way, though, as it has just unveiled one of 20 Metropolitan Collection Phantom sedans at the 2014 Paris Motor Show. As the latest member of the brand's Bespoke Collection, the Metropolitan joins the Phantom Drophead Coupe Waterspeed Collection, the Pinnacle Travel and the Ghawwass Edition.
According to Rolls-Royce, the Metropolitan Collection pays "homage to the world's great metropolises" by way of the company's well known craftsmen. The veneers, particularly on the second row picnic table, get extensive attention, with just the table using 500 individual pieces of wood.

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.

Rolls-Royce signs deal to trial hybrid-electric train conversions

LONDON — Rolls-Royce has signed an agreement to conduct a trial conversion of diesel trains to hybrid-electric engines in Britain, in a deal which could be rolled out to hundreds of trains across the country starting in the 2020s. The British company, which is best known for making aircraft engines, said on Wednesday that its German Power Systems business had signed an agreement with Porterbrook, the UK's largest owner of passenger rolling stock. Rolls-Royce's Power Systems unit, which sells engines used on ships, yachts, trains, trucks, mining and nuclear power stations, is one of the fastest growing parts of the company, and its boss said hybrid technology is behind that. "We expect hybrid technology to grow at above the current growth rates of diesel," the CEO of Rolls-Royce Power Systems, Andreas Schell, told Reuters. The Power Systems business is expected to post low double-digit revenue growth this year and is a bright spot in a company grappling with the negative headlines and cost of fixing a problem with its Trent 1000 aero-engines. Diesel trains can be fitted with Rolls-Royce Hybrid PowerPacks to turn them into hybrid trains that can also run on battery power, reducing carbon emissions and making them cheaper to run for operators while also making them much quieter when, for example, they approach stations. From RR's press release: The MTU Hybrid PowerPack is an environmentally friendly drive system which combines the advantages of diesel and battery-powered rail traction. The version for Porterbrook incorporates an MTU diesel engine which fulfils future EU Stage V emissions regulations; plus an electric machine, which can be used either as an electric motor or generator; and an MTU EnergyPack battery system, which stores the energy recovered during braking. This enables very low-noise, emissions-free battery-only electric operation in urban areas and around stations. The hybrid initiative comes as Britain seeks to phase out diesel-only trains by 2040. Adding the powerpacks to trains allows railway networks to be partially electrified without the need for expensive overhead infrastructure. The Institution of Mechanical Engineers says that 42 percent of Britain's rail network is currently electrified, which means that the country lags behind electrification rates in other European nations. Last year the British government scrapped electrification projects in some parts of the country, saying it would look to hybrid technology trains instead.