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Mini teases one-box concept — a Mini-van

Mini appears poised to unveil its first van concept if this just-released teaser image is anything to go by. The brand showed a teaser image for the Vision Urbanaut on Twitter, calling the vehicle "an urban oasis." https://twitter.com/MINI/status/1328352146224418816?s=20 Mini previously offered a panel-van version of the Clubman, but the Urbanaut concept appears to be a much differerent one-box design. Its ultra-short frontal area suggests it does not utilize the current Mini platform. Instead, this is likely an EV, with its batteries packaged under the floor. The concept, then, could also debut a new dedicated EV platform for Mini. (Mini's current electric car, the Cooper SE, is a battery-powered version of the standard Mini hardtop.) Based on its profile, the Urbanaut concept does not appear to be a preview of any of the future models the brand has recently discussed. Those include two new crossovers, a BMW X1–sized model that revives the Paceman nameplate and a second entry built on BMW's RWD platform and possibly called Traveler. However, the brand also mentioned adding more EVs, and that could be where the Urbanaut fits in. Of course, the Urbanaut also could end up going nowhere, like the Rocketman concept that failed to launch. Still, a tiny-sized van does strike us as an intriguing and brand-correct new model for Mini — certainly more so than another large-ish crossover. We'll be interested to learn more about the Urbanaut. Related Video:

Mini Rocketman back on the table, might go aluminum

Mini just doesn't want its Rocketman concept to die. It unveiled the truly mini model at the 2011 Geneva Motor Show, and since then, there have been countless on-again, off-again rumors about the possibility of it going into production. If the latest talk proves true, a smaller vehicle like the Rocketman might make it into the automaker's lineup after all, as competitor to other stylish city cars like the Smart ForTwo.
According to the company's head of design, Anders Warming, speaking to Auto Express, Mini likes the idea of having a smaller model in its lineup, but it has to figure out a way of actually making it work. Warming is clear that the next iteration of the Rocketman concept (or whatever it's called then) won't be seen until a design is ready.
There are still plenty of challenges keeping a production Rocketman off of the city streets of the world, and chief among them continues to be finding a platform. But Mini is at least considering it. "At the moment, we don't have the right tech solutions, but we are working on it. We don't yet have a final solution, you could say," said Warming to Auto Express. He also thinks the final version would drop the concept's carbon fiber in favor of more aluminum components.

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.