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Drive like a prince: Join us for a walk through Monaco's car collection

Small, crowded, and a royal pain in the trunk lid to drive into during rush hour, Monaco sounds like an improbable location for a huge car museum. And yet, this tiny city-state has been closely linked to car culture for over a century. It hosts two major racing events every year, many of its residents would qualify for a frequent shopper card if Rolls-Royce issued one, and Prince Rainier III began assembling a collection of cars in the late 1950s. He opened his collection to the public in 1993 and the museum quickly turned into a popular tourist attraction. The collection continued to grow after his death in April 2005; it moved to a new facility located right on Hercules Port in July 2022. Monaco being Monaco, you'd expect to walk into a room full of the latest, shiniest, and most powerful supercars ever to shred a tire. That's not the case: while there is no shortage of high-horsepower machines, the first cars you see after paying ˆ10 (approximately $11) to get in are pre-war models. In that era, the template for the car as we know it in 2023 hadn't been created, so an eclectic assortment of expensive and dauntingly experimental machines roamed whatever roads were available to them. One is the Leyat Helica, which was built in France in 1921 with a 1.2-liter air-cooled flat-twin sourced from the world of aviation. Fittingly, the two-cylinder spun a massive, plane-like propeller. Government vehicles get a special spot in the museum. They range from a Cadillac Series 6700 with an amusing blend of period-correct French-market yellow headlights and massive fins to a 2011 Lexus LS 600h with a custom-made transparent roof panel that was built by Belgian coachbuilder Carat Duchatelet for Prince Albert II's wedding. Here's where it all gets a little weird: you've got a 1952 Austin FX3, a Ghia-bodied 1959 Fiat 500 Jolly, a 1960 BMW Isetta, and a 1971 Lotus Seven. That has to be someone's idea of a perfect four-car garage.  One of the most significant cars in the collection lurks in the far corner of the main hall, which is located a level below the entrance. At first glance, it's a kitted-out Renault 4CV with auxiliary lights, a racing number on the front end, and a period-correct registration number issued in the Bouches-du-Rhone department of France. It doesn't look all that different than the later, unmodified 4CV parked right next to it. Here's what's special about it: this is one of the small handful of Type 1063 models built by Renault for competition.

Rolls-Royce bringing three customer-commissioned cars to Beijing show

Rolls-Royce inaugurated a customization center called Private Office in Shanghai, China, in 2023, and it will bring the first three cars created in the facility to the 2024 Beijing show. The builds are based on the Spectre, the Phantom, and the Ghost, and they're inspired by travel. The cars are grouped under the Spirit of Expression label, and each one is given a name. Shown above, the Spectre is named "Escapism" and finished in a color combination that references a flower called lantana found in the South American tropics. The top part of the coupe is painted in Tempest Gray while the bottom wears Lantana Red paint. This color also appears on the center caps fitted to the 23-inch wheels. Inside, there's Selby Gray, Purple Silk, and Sunset leather upholstery, Sunset piping, and a Starlight headliner with Sunset-colored lights. Rolls-Royce Phantom Spirit of Expression View 15 Photos Somewhat more subtle than the Spectre, the Phantom is an extended-wheelbase model named "Magnetism" that's also characterized by a two-tone look. Designers headed to Sicily's Cala Luna beach for inspiration: There's Kabira Blue paint above the beltline and Cala Luna Sand paint below it. Arctic White and Cala Luna Sand accents add a finishing touch to the look. The interior gets a Starlight headliner with white and Galileo Blue lighting, an array of stainless-steel inlays, as well as Blue Gray, Navy Blue, and Arctic White leather upholstery. Rolls-Royce Ghost Spirit of Expression View 12 Photos We're off to Boracay Island in the Philippines for the Ghost, which is called Expressionism. Boracay Blue paint "evokes the sunsets over Boracay Island," according to Rolls-Royce, and it's accented by a hand-painted Lime Green stripe added as a reminder of the island's tropical landscapes. Black, Arctic White, and Lime Green leather upholstery dominates the interior. Look up, and you'll see a Starlight headliner that features a unique wave pattern, "like silk in the wind," created with over 1,000 "stars." There are eight shooting stars, too. Rolls-Royce notes that the three Spirit of Expression cars were commissioned by customers, so they'll presumably head off to their new home when the Beijing show closes its doors. The brand will open additional Private Office centers later in 2024, meaning we'll undoubtedly see additional one-off models before the end of the year. Rolls-Royce points out that most of its clients pay extra to customize their car.

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.