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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.

BMW says current M3 sold out, no new AWD M models planned

Car and Driver asked the head of BMW M, Friedrich Nitschke, a few questions about what the go-fast division had in mind for the future, and was rewarded with some enlightening answers. The best news to purist ears is that Nitschke said customers don't want all-wheel drive on their M cars, so it's the rear wheels alone that will propel new product into the future. If you want both an M badge and four driven wheels, it's the X5 M, X6 M and M Performance models you're looking for in the catalog.
"Mixed bag" is the phrase you're looking for regarding the other answers. Nitschke said that future M engines "at the core of their architecture" would "be closer to BMW AG engines" that are optimized for M cars, instead of following in the line of unique marvels like the V10 and naturally aspirated V8. They will keep the high redlines, however, with Nitschke saying "there is room beyond" the 7,000 rpm mark in BMW's current V8 turbos.
Managing weight will keep the same priority for M that it is for every other brand, so electrically assisted power steering is coming, as is an "unconventional" materials mix. At the smaller end of the M scale, Nitschke described three-cylinder engines as "attractive," saying that the brand can produce more than 310 horsepower from a three-pot.

BMW gearing up for Sochi Olympics with bobsled documentary [w/video]

BMW might be a German brand, but that isn't keeping its US branch from helping out Team USA as the 22nd Winter Olympics gets set to kick off in Sochi, Russia next month. We last reported on BMW's partnership with Team USA's bobsled team in November of 2012, but with barely a month until the opening ceremony, it's about time we hear something new about the team's progress. And that's exactly what's going to happen when Driving on Ice airs this Sunday afternoon. The documentary charts the progress of the Team USA/BMW partnership to redesign the team's two-man bobsled for an event in which the USA hasn't captured gold in since 1936. And if you're concerned that this will be nothing more than a long advertisement for BMW, then you'll enjoy knowing that the program has more to do with the Team USA bobsledders than with the automaker. Even the trailer stars a number of team members and coaches, along with BMW DesignWorks USA's Michael Scully, lead designer on the program. There's a short preview embedded below, so if you just can't wait for next month's Olympics to kick off, you'll want to tune into NBC at 12:30 pm (Eastern time). Scroll down to watch the video preview and check out the full press release from BMW. BMW Slides into 2014 Winter Olympic Year with Announcement of U.S. Olympic Marketing Campaign, Bobsled Documentary. "Driving on Ice," a Film About BMW's Redesign of the Team USA Two-man Bobsled, to Air This Sunday on NBC. Woodcliff Lake, NJ – January 3, 2013... BMW of North America, the Official Mobility Partner of the United States Olympic Committee (USOC), today announced its U.S. Olympic marketing campaign for the Sochi 2014 Olympic Winter Games which includes a series of Olympic-themed advertisments, consumer and retail activations, social and digital media executions, and a national drive campaign to benefit Team USA. In addition, a documentary on BMW's complete redesign of the U.S. two-man bobsled entitled "Driving on Ice" will air this Sunday, Jan. 5 at 12:30 p.m. EST/11:30 a.m. CST on NBC. "Driving on Ice" chronicles BMW's collaboration with the USA Bobsled & Skeleton Federation (USBSF) to deliver a fleet of six new two-man bobsleds, applying the automaker's world-class design and engineering expertise to help Team USA chase its first Olympic gold medal in the event since 1936.