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BMW looking to save billions with cost cuts

BMW is planning a fairly extensive overhaul in a bid to recoup some its annual costs, with CEO Norbert Reithofer (pictured above) aiming to save three to four billion euro ($4 to $5.4 billion) per year to help keep the company's profit margins between eight and 10 percent, while also maintaining investments in production expansion and new tech. BMW's profit margins sat at 9.4 percent in 2013.
According to Automotive News Europe, Reithofer is none too pleased about costs at Mini and on the 1 Series, although neither AN nor its source story, from Germany's Manager Magazin, elaborate on what steps could be taken to improve losses on either project. That makes it hard to figure out just where the fat will be trimmed from.
What may happen, though, is that BMW attempts to trim 100 million euros ($135 million) from its German labor costs each year; a solution hinted at a few weeks ago by Germany newspaper Muenchner Merkur. While a dramatic cost reduction, 100 million euros still doesn't begin to even approach the savings envisioned by Reithofer.

U.S. issues new tariff threat, this time against British-built cars

WASHINGTON — Britain is the United States' closest ally but their long friendship may be sorely tested as the two countries try to forge a new trade agreement after Britain's exit from the European Union. U.S. Treasury Secretary Steven Mnuchin said on Saturday in London that he was optimistic that a bilateral deal with Britain could be reached as soon as this year. But Mnuchin gave up no ground after a second meeting with his UK counterpart, Sajid Javid. Javid has insisted that Britain will proceed with a unilateral digital services tax, despite a U.S. threat to levy retaliatory tariffs on British-made autos. Mnuchin told reporters after Saturday's meeting that such taxes would discriminate against big U.S. tech companies like Alphabet Inc's Google, Apple, Facebook and Amazon. The UK Treasury declined to comment on the private meeting. The divide highlights the challenges ahead as the Trump administration seeks a new bilateral agreement with Britain, part of a broader push to rebalance relations with nearly all its major trading partners. The stakes are high — British Prime Minister Boris Johnson has pegged the trade deal with United States as a way to ease the pain of breaking with Europe, Britain's largest trade partner. U.S. President Donald Trump, has promised a "massive" trade deal to support Brexit, the product of a populist movement similar to his "America First" agenda. The goodwill and special relationship the two countries have enjoyed for decades may not count for much, experts say. "Trump is not going to be doing Johnson any favors," said Amanda Sloat, a senior fellow with the Brookings Institution in Washington. "He's not going to give him a trade deal without major concessions." Even before the digital tax issue arose, the Trump administration threatened to tax foreign car imports, which could hit British-made Jaguar, Land Rover, Mini, and Honda Civic hatchback cars. Stiff U.S. trade demands include increased access for U.S. farm goods, concessions that will be difficult for Britain's entrenched natural food culture to swallow. The United States also wants Britain to change the way its National Health Service prices drugs and allow in more U.S. pharmaceuticals, which could prove politically unpopular for Johnson's government. Washington's demand that London block Chinese telecoms equipment maker Huawei Technologies Co Ltd for national security reasons could also cloud talks.

Mini Countryman Park Lane looks classy in Earl Grey

Wade through the very, very thick fluff of the press release that announces its entry into the premium compact market (see below for what we consider to be particularly artful prose in the presser), and you'll see that this is the first special edition Mini Countryman the British-born, German-owned brand has so far released. The Mini Countryman Park Lane is painted up in a striking shade of Earl Grey metallic (clever, boys) with contrasting Oak Red roof and accents. And, while it's possible to design a Mini of your very own with a seemingly endless array of colors, stripes and badges inside and out using the online configurator, the Park Lane is one of the classier jobs we've seen from the factory. For those keeping track, Park Lane refers to a street in the London borough of Mayfair, and this is the third special-edition vehicle from Mini that wears the name. See it in high-resolution above and below, and don't forget to read the press release below for a chuckle or two. Related Video: All-round talent with individual style: the MINI Countryman Park Lane. 03.03.2015 MINI Countryman Park Lane. Munich. Bold athletic flair and supreme versatility define the character of the MINI Countryman. As the first MINI with four doors, a large tailgate, five seats and optional all-wheel drive, it took on the role of an irresistible front-line force from the very outset - both in the conquest of additional target groups for the British premium brand and in the area of off-road driving. Its irrepressible forward thrust and flexibility are now expressed even more strikingly in an exclusive edition model. The MINI Countryman Park Lane sees its world premiere at the Geneva International Motor Show in March 2015. It will be available worldwide in up to four engine variants from July 2015. The MINI Countryman has enabled the brand to establish a secure standing in the premium compact segment. Unmistakable design, premium quality, an interior concept of exemplary versatility and typical MINI driving fun both on and off the road go together to create an overall package that is unique in this category of vehicle, meeting the multi-faceted mobility needs of demanding target groups in urban traffic and beyond. In this way the MINI Countryman has successfully asserted itself as an all-round talent with individual style. For the first time, this special status within the competitive environment is now underscored with an edition model.