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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.

BMW will invest $750 million to build Mini EVs in the UK

LONDON — BMW said on Monday it will invest 600 million pounds ($750 million) in its UK plants to take its Mini brand all-electric by 2030, giving a fresh boost to Britain's car industry after years of Brexit-related uncertainty. From 2026, the German premium carmaker will make two electric models at its Mini plant in Oxford — the Mini Cooper 3-door and the compact crossover Mini Aceman. The plant will make only electric models as of 2030 and many of those cars will be exported to markets around the world, BMW production chief Milan Nedeljkovic said. Speaking to journalists in Oxford, Nedeljkovic said the company wants to use batteries made in Europe in the new models made in Oxford, but did not specify whether they would come from the UK, saying it depending on the attractiveness of the market for its suppliers. The same two models will also be made in China and exports of those cars will begin in 2024. Also speaking in Oxford, British business minister Kemi Badenoch said: "We want auto manufacturing not just to stay in the UK, but to be the best in the world, and this is part of that story". Badenoch declined to comment on the level of subsidy to be received by BMW for Mini production, reported by British media to be 75 million pounds. BMW will also invest in its plant in Swindon which makes parts for Mini models. It was too soon to say what would happen to the engine plant in Hams Hall, near Birmingham, Nedeljkovic said. The small, fast and affordable original Mini went on sale in 1959 and has remained popular under BMW since it revived the brand in 2001, but its future in Britain has been uncertain for years, exacerbated by fears that Brexit would prompt the company to relocate production to Germany, China or elsewhere. Still, the industry remains on edge with both Britain and Europe's carmakers calling for a delay in the implementation of post-Brexit "rules of origin", under which 45% of the value of an EV being sold in the European Union must come from Britain or the EU from 2024 to avoid tariffs. "The [auto] industry is screaming at the EU," Badenoch said in Oxford, arguing that tariffs on EU and UK-made cars would only help Chinese manufacturers and that more time was needed to build local capacity. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Mini Superleggera patent renderings suggest production prospects

Mini impressed us all when it revealed the Superleggera Vision concept at the Paris Motor Show a couple of months ago. But even before the little roadster concept debuted, there were already rumors of its production potential. And those rumors are only being further entrenched by the emergence of a series of patent renderings. Bearing much more than a passing resemblance to the concept, these images show what could be a revised, production version of the Superleggera, though not without its concessions to reality. For one thing, it looks like it's got a proper framed windshield, but it's hard to tell with the roof in place – something we never saw on the concept, either. It's also got more substantial wing mirrors, but the fin on the rear deck is still there, as are the extractor vents on the hood. We also note that the grille openings are the same shape as the concept's. Of course, the emergence of these images and their filing with the relevant authorities doesn't necessarily mean that Mini is moving ahead with the roadster's production. But if it did, it would likely ditch the concept's electric powertrain, and could stand to fill the void left by the discontinuation of the maligned, outgoing Mini Roadster that was essentially a scrunched Cabriolet with a cowling where the rear seats and stacked roof would be. Parent company BMW is likely taking into account that its rival Daimler didn't have much luck when it slotted a unique roadster of its own into the Smart lineup, so here's hoping that if it does give the Superleggera the green light, it'll have more success in the marketplace.