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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.

Mini recalls 86,000 hatchbacks, convertibles from 2002 to 2005

Mini is recalling 86,018 cars built for model years 2002 through 2005 over concerns about the power steering system. The affected vehicles include both R50 Cooper and R53 Cooper S hatchbacks as well as convertibles (where applicable). Mini's public communications with the National Highway Traffic Safety Administration over the issue are decidedly oblique and simply pointing out owners could "experience temporary or permanent loss of the electro-hydraulic steering assistance." Worryingly, Mini claims it's aware of 20 accidents and five injuries due to the power-steering issue. This isn't the first time Mini has had problems with the power steering systems on these first-gen Coopers. The automaker had so many claims of bad power steering pumps and cooling fans that it upped the warranty on those units to 13 years or 150,000 miles for the same 2002 to 2005 models being recalled here. This author's personal 2006 model is on its third fan and second pump, though that year has never officially been investigated or recalled. A slight drop in steering assist and a low-battery warning at engine startup are the main signs your car needs recall work. Owners of the affected hatchbacks and cabrios will be notified by Mini and asked to report to their local dealer to have the electrohydraulic steering system's wiring and components inspected. Any repairs will be done free of charge. Read on for the official NHTSA bulletin. Related Video: Report Receipt Date: OCT 15, 2015 NHTSA Campaign Number: 15V660000 Component(s): STEERING Potential Number of Units Affected: 86,018 Manufacturer: BMW of North America, LLC SUMMARY: BMW of North America, LLC (BMW) is recalling certain model year 2002-2005 MINI Cooper and Cooper S vehicles and 2005 Cooper and Cooper S Convertible vehicles. The affected vehicles may experience temporary or permanent loss of the electro-hydraulic steering assistance. CONSEQUENCE: If the vehicle experiences a loss of power steering assist, extra steering effort will be required at lower speeds, potentially iincreasing the risk of a vehicle crash. REMEDY: MINI will notify owners, and dealers will inspect the electro-hydraulic power steering system, replacing the components and wiring, as necessary, free of charge. The recall is expected to begin December 1, 2015. Owners may contact MINI customer service at 1-866-825-1525.

Junkyard Gem: 2011 MINI Cooper Clubman

The original BMC Mini changed the automotive world forever in 1959, staying in production in essentially the same form all the way through 2000. Its innovative transverse-mounted engine and front-wheel-drive transaxle became the layout for most cars built in the world today, and its cheap price tag put millions of new drivers on wheels for the first time. Like the Volkswagen Beetle and Fiat 500, it was inevitable that the shape of such an iconic machine would be applied to a modern platform for the retro-ization craze of the late 1990s and early 2000s, and that's just what happened when BMW ended up owning the Rover Group. The BMW-built MINI Hardtop first appeared on our shores for the 2002 model year, and used-up examples of these cars are now extremely plentiful in self-service wrecking yards across the continent. The Cooper Clubman, which debuted here for the 2008 model year, has been a rare sight during my junkyard travels, and so I documented this one in Denver a few weeks ago. The Clubman wasn't quite as nimble and easy to park as the regular Cooper, but its increased cargo capacity and split rear doors made it a lot more useful for trips to the big-box store. It also offered more space for rear-seat passengers, and the right-side suicide rear door made it much easier to get into the back seat (on that side). The new MINI started out much larger than the clown-car-tiny old Mini, anyway. The added usefulness and more recent release of the Clubman have made it an uncommon sight in American car graveyards. This one was uncrashed and still had the original manuals inside, which suggests that some owners of first-generation (2008-2014) Clubmen are no longer willing to pay for major mechanical repairs when needed. We'll see how this sorts out during the next few years. As the owner of a 2000s wagon with a manual transmission, I applaud the original purchaser of this wagon for the choice of three-pedal setup. The interior looks to have been fairly tidy before junkyard shoppers tore it apart. The Colorado toll-road transponder suggests that this machine was a well-cared-for commuter for its decade on the road, but proved to be not worth repairing when some major component failed. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The future will look exactly like the MINI CLUBMANIA human-scale pinball machine. This content is hosted by a third party.