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Automakers are getting nervous about Europe's economy

Carmakers BMW and Stellantis on Thursday expressed concerns about Europe's economic outlook, joining a chorus of retailers and others in warning of waning consumer confidence on the continent and hitting their shares. "Obviously the macro(-economic situation) in Europe is more challenging, which gives me pause, personally," Stellantis chief financial officer Richard Palmer said on a conference call with analysts. "If there was anywhere where I was more concerned, it would be Europe than anywhere else really based on the macro." This follows a dire assessment of consumer sentiment in Europe from the likes of consumer goods company Unilever and news of lower spending by Europeans from Amazon. Like other major auto companies, Stellantis and BMW have been hit by supply chain disruptions stemming from the global coronavirus pandemic that have curtailed car production. They have also benefited from strong consumer demand amid low vehicle supply, allowing them to raise prices and keep them high even as the semiconductor shortage shows signs of easing. BMW posted a 35.3% jump in third-quarter revenue despite a small drop in vehicle sales. Stellantis said its revenue rose 29% on the back of a 13% increase in vehicle sales as more semiconductors became available. The concern among analysts has been that demand may falter, just as carmakers get their hands on the supplies they need, undermining pricing and hurting profits. But this week Ferrari said it was confident about its prospects for this year and 2023 as demand for its luxury cars, as well its pricing power, remained strong. Both BMW and Stellantis said on Thursday they had vehicle order books that stretched into the second quarter of 2023. But BMW's chief financial officer Nicolas Peter said high inflation and rising interest rates could hit buyers' wallets. "This is causing conditions for consumers to deteriorate, which will affect their behaviour in the coming months," he said. "We therefore continue to expect our higher-than-average order books to normalise, especially in Europe." He added customers had been unhappy about the wait for new cars, so "a slight reduction (in orders) would not be negative." Palmer said Stellantis was "ready for any softness in demand" but in the short term had been affected by a shortage of drivers to deliver its cars to dealers. "At the moment, we can't build enough cars," he said.

Next BMW M3 sedan to be plug-in hybrid?

BMW has a lot in mind for the next-generation 3 Series and 4 Series cars, and we're hearing about it now even though they're not expected for another three or four years. The sedan is expected to be lighter, wider, with a longer wheelbase and a lower center of gravity. Rumored tech updates include the water injection system debuted in production on the BMW 1 Series, and the 4 Series convertible might go back to a fabric top. Now The Detroit Bureau reports BMW insiders have revealed that the next M3 will get a plug-in hybrid drivetrain. We've heard about plug-in variants in the mix for the G20 3 Series using a small displacement four-cylinder, but not on the M3 and possibly M4. The goal is familiar, according to the "several senior company officials:" to improve the performance while reducing the emissions footprint. Apparently, the power unit being worked on uses a "similar engine" to the 425-horsepower, 3.0-liter inline six employed at the moment, with power sent to the rear wheels. Electric assistance would come from a KERS-like unit that would also - and only - send power to the rear wheels. Torque is said to go up at least 73 pound-feet from the 406 lb-ft available currently, and all-electric range might be as much as 20 miles. Plenty of carbon fiber will help offset the weight of the lithium-ion batteries. Despite company obfuscations, we know BMW is working on a hybrid powertrain for a vehicle rumored to be called either i5 or i7, and would use one or two electric motors to drive the front wheels while the traditional ICE drives the rear wheels. This potential M3 and M4 powertrain would be an offshoot of that engineering. Automobile speculates there will be electric turbochargers and a horsepower number around 500. Related Video:

Giles Taylor succeeds Ian Cameron as head of Rolls-Royce design

Back in the day, a Rolls-Royce looked pretty much the same as a Bentley, but with a different grille. Once BMW took over Rolls-Royce, however, it was faced with the challenge of visually separating itself from its former sister brand. And most would agree that it did so pretty well. But its cars have looked pretty much the same ever since. What Rolls-Royce needs, then, is a bit of a design shake-up. And that's just what this latest appointment could bring.
After a baker's dozen years as design director at Rolls-Royce (and twenty years designing for the BMW Group altogether), Ian Cameron is retiring from his post. In his place, Rolls-Royce has named Giles Taylor as its new director of design. In his new capacity, Taylor will report directly to BMW Group chief designer Adrian van Hooydonk, and be responsible for all design matters related to the Rolls-Royce brand and its products.
Taylor was promoted to the role from his previous position as head of exterior design for the marque, a position he's held for barely more than a year. We'll be eagerly watching to see what the veteran British car designer has in store for the future of Rolls-Royce. In the meantime you can read the full announcement below.