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Rolls-Royce is officially in the SUV business

This might be the most brand-appropriate announcement ever for a previously unthinkinable vehicle, complete with a press release titled like a royal edict. After saying a month ago that it would decide on building an mixed-terrain hauler by the end of the year, Rolls-Royce issued a press release entitled, "An Open Letter from the Chairman and Chief Executive of Rolls-Royce Motor Cars on the Subject of a New Rolls-Royce." Let's hold on a second while the sound of trumpets dies down. Nowhere among its 453 words will you find the acronym "SUV," nor the words "sport" or "utility." You will find talk of "an all-new Rolls-Royce," "a high-bodied car, with an all-new aluminum architecture," "a vehicle that can cross any terrain," and references to Lawrence of Arabia traversing mountain ranges and "the vastness of unexplored deserts" and the founders' "rigorous overland adventures," complete with sepia photos. And then there's this: "History sets our precedent and our future calls us to action." Let's hold on a second while the applause dies down. We don't know when we'll see it - Rolls-Royce says it plans to take its time getting it right, to create a vehicle that is "Effortless ... Everywhere." We would believe any date we read about, though; not even two years ago we were told a Rolls-Royce SUV hadn't even been discussed since such a vehicle couldn't fit into the brand ethos, not even a year ago the company's head designer had narrowed it down to "a shooting brake, not a crossover with a sloping roof. A proper SUV," with the Ghost platform for support and a speculated release date of 2017. If they brought a near-production-ready sample to the Frankfurt Motor Show this year, we wouldn't be surprised. We sincerely hope that, like the image, it comes with a man to shovel any obstacles out of the way. Gather round the dais and enjoy the press release below. It's a whole new world. Related Video: AN OPEN LETTER FROM THE CHAIRMAN AND THE CHIEF EXECUTIVE OF ROLLS-ROYCE MOTOR CARS ON THE SUBJECT OF A NEW ROLLS-ROYCE 18.02.2015 -- The launch of Phantom in 2003 marked the beginning of the renaissance of Rolls-Royce Motor Cars. Since then, we have set a new benchmark for what a super-luxury car should be – unique, hand-crafted, beautiful and rare. Often imitated, Phantom has never been equalled and continues to be hailed as 'The Best Car in the World' by our customers and media alike.

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 Spectre reveal: Watch it here live Tuesday morning

Rolls-Royce is preparing to unveil the Spectre, its first series-produced electric car. The big coupe is scheduled to make its global debut online tomorrow (Tuesday, October 18) at 8 a.m. Eastern, and you can watch the livestream right here to get all of the details. Official details about the Spectre remain few and far between; Rolls-Royce has done a good job keeping the EV under wraps. Official spy shots published by the British company in July 2022 suggest that the model will wear a futuristic-looking design, though it will remain recognizable as a member of the Rolls-Royce range, and it will be the brand's most aerodynamic car thanks to a 0.25 drag coefficient. Inside, the Spectre will be mostly standard Rolls-Royce fare. One of the exceptions is a digital instrument cluster. 2024 Rolls-Royce Spectre testing in Frnace View 10 Photos Rolls-Royce noted that it put the Spectre through the most rigorous testing program it has ever subjected a new model to; prototypes will have covered over 1.5 million miles by the time deliveries begin. While that might sound like overkill, there's a lot to test: In addition to a battery-powered drivetrain, the Spectre features "141,200 sender-receiver relations and has more than 1,000 functions and more than 25,000 sub-functions," according to the company, and it will inaugurate a new suspension system capable of disconnecting the roll bars. Details such as horsepower and driving range will be announced during the unveiling. One of the figures that we do know is that the 59-inch-long doors are the longest units ever fitted to a production Rolls-Royce; put another way, they're nearly as long as a Smart Fortwo is wide. Tune in tomorrow to watch the Spectre make its debut. Deliveries will begin in the fourth quarter of 2023, and pricing hasn't been announced — though Rolls-Royce buyers aren't price-sensitive.