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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.

2025 Mini Cooper reveals its OLED screen, retro gauges and dog assistant

We got to see the 2025 Mini Cooper’s interior the other week, but now Mini is peeling back the veil on everything there is to know about the new round screen in the center and the all-new software itÂ’s running.  Mini is calling this fancy, round screen the “Mini Interaction Unit.” From a hardware perspective, itÂ’s rather special. The super-thin screen itself is a perfect circle and measures 9.4 inches in diameter. That might sound small in the world of ever-increasing car screens, but every other screen out there is rectangular, so the measurement applies in every direction, rather than just the diagonal of a rectangular screen. We sat in the driverÂ’s seat of the new Mini, and thereÂ’s certainly no lack of screen size to be seen here. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. To make matters even better, Mini is using OLED technology — Samsung is the supplier — for this round screen. That means extra vivid colors and the darkest-possible blacks. Cadillac uses OLED tech for its screens in the Escalade, too, and the result is beautiful. Of course, the software playing on this screen is the real star of the show, and itÂ’s called Mini Operating System 9. ItÂ’s a completely new-from-the-ground-up software suite, and you can wave goodbye to the old BMW iDrive control knob, too, because this is touch-control-only. The pictures describe the design aesthetic best. ItÂ’s vibrant, colorful, modern and full of pleasant surprises. We'll also note that while the photos here depict the electric Mini Cooper, the new Countryman will feature the same screen setup. What you see on screen is largely dependent on what “Experience Mode” youÂ’re in. Those include Core, Go-Kart, Green, Balance, Timeless, Vivid and Personal (Trail is added for the Countryman). Core is going to be your standard mode that provides a simple interface with your navigation, media and phone status spread out across the screen. A lot changes in the other modes, but certain things remain consistent across all modes including the auto climate controls, speedometer, range and the shortcut bar at the bottom with often-used menus. You can store even more (customizable) frequently used commands into a “tool belt” that is accessed by swiping up from the bottom of the screen.

Mini locks out the podium at Dakar Rally

Motor racing is often overcome by dominant forces. In Formula One these days, it's all about Red Bull. Le Mans is absolutely dominated by Audi. Citroën devastated the World Rally Championship for years. And the Dakar Rally is no exception to that particular rule, either.
The Mitsubishi Pajero won the event seven years in a row and many times before that. Then Volkswagen took the lead, winning three years running with competition-spec Touaregs once the rally shifted from North Africa to South America in 2009. But these days it's Mini that dominates.
The Mini All4 Racing team won in 2012, again in 2013 and has just won it again for 2014. Not only did it win again, but it took a devastating 1-2-3 finish to lock out the podium. Over the course of 13 days, Minis won 11 out of 13 of the total stages that make up the grueling rally, at the end of which Nasser Al-Attiyah crossed the line in third, Stéphane Peterhansel finished second, and just five minutes ahead of him, Nani Roma crossed the finish line in Valparaíso in first place. (Of course it didn't hurt that there were no fewer than 11 Minis entered in this year's rally, but still.)