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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.

2015 BMW M4 Convertible Quick Spin [w/video]

Quite a while ago, we ran a story where our editors disclosed their guilty pleasure cars. There, I admitted my love for the ultra-comfortable Acura RLX. But I have another automotive guilty pleasure, and it's the BMW M4 Convertible, and the droptop M3 that came before it, as well. Whether it's an E46, E93, or the new F83 M4 model, I just love the idea of a droptop M car. It kind of goes back to my Lexus RC F review, where I posit that most consumers buy a car like this solely for the image. To the point of this car, if you're opting for a convertible, you're boldly throwing out any pretense that you bought this car for its performance. It's a different and far grander indulgence than something like a droptop Ford Mustang, Chevrolet Camaro, or even a Corvette, and that's especially the case with the new M4, as I found out after a week at the wheel. Driving Notes Anyone that's listened to me on the Autoblog Podcast knows I've been none too kind about the state of BMW's turbocharged M cars. In effect, they're too easy to drive. In older models, the narrow power band meant you needed to always keep an eye on the tach, lest you fall into a weak zone. But because today's turbocharged M engines are so damn torquey, you can simply mash the throttle, regardless of engine speed or gear, and zoom forward. That's mostly the case here, although with a 7,500-rpm redline, the M4 at least maintains the illusion that you have to keep the revs up. Power delivery is fast and immediate, capable of catapulting the M4 towards the horizon at even half throttle. But more than the brutal power delivery, this latest M entertains with a strange but familiar singing voice. It's an almost feral, straight-six howl, particularly high in the rev range. But because of the single-scroll turbochargers and today's sound-tuning sorcery, the noise here is far richer and complex than what you'd get in a naturally aspirated M car, like the old E46. The turbos hiss and spit, and wide-open-throttle upshifts come with a cackling snap from the quad-tipped exhaust. Despite my belief that M cars' manual transmissions are generally pretty lousy these days, the M4's gearbox is far better than what you'll find in an M5. The clutch is more forgiving than in the larger sedan, too. With a broad catchpoint and a linear action, it feels natural and intuitive to work.

BMW i8 official images leak ahead of Frankfurt [w/video]

The new BMW i8 plug-in electric supercar isn't set to make its official debut until September 10, when it will glide onto the Frankfurt Motor Show stage amidst a sea of flash photography. Of course, that isn't so true in today's world, where debuts are always preceded (often carefully) by "leaks."
Take this trio of images of the BMW i8 - there's just enough of the exterior on display in the profile shot to draw attention, without showing important styling points that might be present on the front or back of the car. The same goes for the video attached below. The cabin shot is cool, but isn't particularly earth-shattering when it comes to BMW interiors. As for the skeletal shot, we can see the 1.5-liter, turbocharged engine positioned between the rear axles, the battery pack found in what would be the transmission tunnel and the front-mounted electric motors.
We'll have a full set of live images when the BMW i8 makes its debut in Frankfurt next week. Until then, have a look in the gallery and at the video below, and let us know what you think of BMW's next big thing.