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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 confirms M4 DTM for next season

Fans of BMW performance had two events to keep an eye on this weekend: the reveal of the M4 Concept at Pebble Beach, and the efforts of the Bavarian automaker's DTM teams at the Nurburgring. What ties them together, however, is what BMW has in store for next year.
The German carmaker has confirmed that it's already working on a new M4 DTM to campaign in the highly-competitive touring car series starting next season. It didn't reveal any details, but we can expect the M4 to make the same jump to competition spec as the M3 did before it. And with some success, we might add: successive versions of the M3 have won 48 DTM races over the years, starting with the checkered flag which Harald Grohs claimed at Hockenheim in 1987 through to the same race which Augusto Farfus won earlier this year. After taking home the title for BMW in its first year back in DTM last season, Bruno Spengler also won at the Red Bull Ring in Austria two months ago, but the Bimmer teams seem to be having a bit of trouble defending its title against fresh assaults from Audi and Mercedes.
BMW undoubtedly hopes the new M4 DTM will help it turn another new leaf, and we're looking forward to seeing how it all shapes up. Read more in the press release below.

BMW 225xe and 330e get official ahead of Frankfurt

BMW is going green at the 2015 Frankfurt Motor Show with the launch of the 225xe and 330e plug-in hybrids, but the Bavarians are spilling the beans about them early. The models are the latest to use Bimmer's eDrive tech that's derived from the i3 and i8. The modular system allows the automaker to roll out PHEVs through its range. For the new 225xe, eDrive makes for an all-wheel drive, PHEV version of the brand's usually front-wheel drive wagon. Other than the door hiding the charging point, the vehicle looks the same as other versions. Underneath the skin, it uses a 134-horsepower, 1.5-liter turbocharged three-cylinder to spin the front-wheels through a six-speed automatic. An 87-hp electric motor with a 7.7-kWh lithium-ion battery turns the rear, and the result is a total system output of 221 hp and 284 pound-feet. BMW claims a sprint to 60 miles per hour in 6.7 seconds, but this 2 Series shines in fuel economy with between 112 and 118 miles per gallon on the European cycle. Multiple driving modes let the driver find the right mix of power and mileage, but the electric range is only 25 miles. Like the standard version, there's no chance of the 225xe coming here, but prices in Germany start at 37,800 euros ($42,050, at current rates) later this year. For buyers wanting BMW's iconic 3 Series as a PHEV, there's the 330e. Again, the only major styling difference is the charging door on the front fender. Its 87-hp electric motor and 181-hp, 2.0-liter turbocharged four-cylinder both send power to the rear wheels. The result is a total system output of 248 hp and 310 lb-ft. The 330e maintains a 50-50 weight distribution, and fuel economy on the European cycle is rated between 112 and 124 mpg. Even with that efficiency, the 330e can get to 60 in 6.1 seconds. The 7.6-kWh lithium-ion battery allows for 25 miles of EV range, too. BMW's gargantuan press release goes into exhaustive detail about every technological element in the two new models. You can check out all of those details below ahead of the Frankfurt reveal, below. BMW eDrive – the latest generation. 1. BMW eDrive technology. Setting a new benchmark for efficiency. The innovative BMW eDrive technology in the new BMW 225xe and new BMW 330e once again underlines BMW's leading role in the premium segment when it comes to powertrain electrification. BMW eDrive technology includes a number of cutting-edge plug-in hybrid components and makes a significant contribution to reducing fuel consumption and emissions.