2005 2dr Conv 1.6l Copper on 2040-cars

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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.

Mini recalls 30K Hardtops to improve side-impact protection

Mini is recalling 30,456 units of its two-door models because they don't conform to federal side-impact requirements for the rear seat passengers. According to the documents submitted to the National Highway Traffic Safety Administration (here as a PDF), this includes 15,653 examples of the 2014-2015 Mini Cooper Hardtop, 14,782 units of the 2014-2015 Mini Cooper S Hardtop, and 21 of the 2015 Mini John Cooper Works Hardtop (pictured above). Those with production dates between December 2013 and March 2015 are affected, the automaker reports in a statement to Autoblog. According to NHTSA, the agency tested a 2015 Cooper and Cooper S Hardtop on July 1 and 2, but the S didn't meet one of the impact requirements. The analysis showed that rear passengers in these vehicles were potentially in greater danger in a crash. Upon further research, the government and Mini found more models potentially affected. The automaker isn't aware of any reports of accidents or injures from this problem. To rectify the situation, dealers will add more energy-absorbing material in the space between the rear interior panels and the exterior of the hatchbacks, which will take around four hours. The campaign to fix them will begin on Sept. 12. RECALL Subject : Side Impact Crash Worthiness/FMVSS 214 Report Receipt Date: JUL 17, 2015 NHTSA Campaign Number: 15V450000 Component(s): STRUCTURE Potential Number of Units Affected: 30,456 All Products Associated with this Recall Vehicle Make Model Model Year(s) MINI COOPER 2014-2015 MINI COOPER S 2014-2015 MINI JOHN COOPER WORKS 2015 Details Manufacturer: BMW of North America, LLC SUMMARY: BMW of North America, LLC (BMW) is recalling certain model year 2014-2015 MINI Cooper and MINI Cooper S Hardtop 2 Door vehicles and 2015 MINI John Cooper Works Hardtop 2 Door vehicles. The affected vehicles do not meet the side impact performance requirements for the rear seat passengers. As such, these vehicles fail to comply with Federal Motor Vehicle Safety Standard (FMVSS) number 214, "Side Impact Protection." CONSEQUENCE: If the side impact performance requirements are not met, rear seat passengers may be at a higher risk of injury during a crash. REMEDY: MINI will notify owners, and dealers will install additional energy absorption material between the rear interior side panels and the exterior vehicle body, free of charge. The recall is expected to begin September 12, 2015. Owners may contact MINI customer service at 1-866-825-1525.

Supply chain issues force stick-shift out of Mini lineup

Mini has temporarily stopped building cars equipped with a manual transmission due to supply chain-related issues. The company decided to prioritize production of automatic vehicles, which outsell stick-shifted models by a wide margin, and the move might be permanent. "Current circumstances, including the war in Ukraine and semiconductor shortages, are causing supply chain restrictions across the global automotive industry. In order to secure maximum production output to meet increasing customer demand, our product offer needs to be simplified," a representative for the BMW-owned firm told British magazine Autocar. Mini added this is the best way to avoid delivery delays. Affected models include the two- and four-door variants of the Hardtop, the Convertible and the front-wheel-drive Cooper S Clubman. This isn't the first time that Mini goes automatic-only; it temporarily stopped importing stick-shifted cars in early 2019 due to calibration-related issues. While the manual quickly made a comeback, whether Mini will resume building cars with three pedals this time around is unclear. Similarly, what effects this decision will have on the American market (beyond the obvious lack of a manual transmission option) remains up in the air. There may be pricing implications. Adding a seven-speed dual-clutch automatic transmission to the 2022 Hardtop Cooper two-door cost $1,500, while the Cooper S model's automatic was priced at $1,750, so it's not unreasonable to assume that pricing will go up. Autoblog has contacted Mini to learn more about this decision, and we'll update this story if we hear back. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.