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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.

BMW Concept 4 Series Coupe proves that 3-2=4

BMW may be calling this 4 Series Coupe a concept, but take a long, hard look - this will be the car that replaces the 3 Series Coupe in the automaker's lineup. Don't let that number change trip you up. This car will have all the basic elements of what makes a 3 Series coupe so popular, and while this isn't technically the production model (there are still come conceptual elements and we don't have powertrain details), it's pretty much what we can look forward to seeing out on the road very soon. And honestly, the naming strategy isn't that weird (though it's still plenty odd) - BMW will be using even numbers for all its coupes and convertibles moving forward. 1 Series, meet 2 Series. And when a 3 Series loses two doors, it becomes a 4 Series.
Dimensionally, the new 4 Series coupe is 1.7-inches wider, half an inch shorter in overall height, and rides on a 2.0-inch longer wheelbase. It's a really pretty thing, with bold, aggressive body sculpting up front, and a rear deck that's sort of like a downsized version of the larger 6 Series two-door. It's all very handsome, but we'll reserve final judgment until we see the production version with its likely smaller wheels and possibly toned-down visuals.
We don't yet have powertrain details, but we fully expect the 2.0-liter turbocharged four-cylinder and 3.0-liter turbo-six to carry over in 328i 428i and 435i guise. Though remember, other 3.0-liter models in BMW's range use 40i designation, so we could possibly be looking at a 440i Coupe, instead. We won't know until the production car officially bows later this year.

Recharge Wrap-up: Tesla's new wheels, BMW Smart Transport Robots

Tesla has added a new standard wheel option for the Model S. The electric carmaker updated its configurator to include the 19-inch "Slipstream" wheels, replacing the standard five-spoke wheels. The Slipstream wheels look somewhat similar to the larger Turbine wheels Tesla also offers in the Model S. Recent deliveries may have included the new wheels, and one Redditor said he was surprised to find them on his new Model S. Customers can still opt for the 21-inch Turbine wheels or the 19-inch Cyclone wheels for additional cost. Read more from Teslarati. A scam artist who pled guilty to fraud for selling credits for biodiesel he didn't produce has been sentenced to more than 10 years in prison. Philip Rivkin will spend 121 months in prison with three years of supervised release, and is required to forfeit $51 million and pay $87 million in restitution. Rivkin pled guilty to one count of mail fraud and one count of making a false statement under the Clean Air Act. "Today we take another big step toward upholding the integrity of an important program that reduces greenhouse gas emissions and promotes energy independence," says EPA Assistant Administrator Cynthia Giles. She adds, "This sentence deters would-be violators and helps protect responsible companies that follow the rules." Read more from the US Department of Justice. BMW will launch its On-Street Parking Information service this year. By the end of 2016, the service will allow drivers in the US and Germany to find open parking spaces through their navigation system. It uses movement data of cars entering or leaving parking spaces to predict areas that are more likely to have vacant parking and direct drivers to those areas. Besides offering convenience, On-Street Parking Information could help save fuel that cars use while the driver searches for parking. BMW says trials in major cities have already delivered "reliable results." Read more at Green Car Congress. BMW is developing autonomous robots that move parts around its factories. The Smart Transport Robots can make their way to rolling parts containers and deliver them to where they need to be on the factory floor. The robots use radio transmitters and a digital map to navigate around the factory, but BMW plans to eventually upgrade to a more accurate 3D camera system. Powered by retired BMW i3 batteries, the robots have enough charge to last an eight-hour shift. According to BMW Vice President of Foreign Supply Dr.