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Rolls-Royce names new chief executive for North America

Rolls-Royce has announced a changing of the guard in its North American office. Stepping out of his role as North American regional president is Eric Shepherd (pictured). In his place, the uber-luxe British automaker is bringing in Pedro Mota, who comes by way of Porsche Cars North America, where he served as the west coast regional vice president. Mota holds an MBA from European business school INSEAD, and a Master's in electrical engineering from Lisbon Technical University. He'll join Rolls-Royce with almost immediate effect on October 1 to learn the ropes before taking over on January 1, 2016 - the day after Shepherd vacates the office. The company was rather unspecific in disclosing what Shepherd will be doing next, saying only that he'll be staying "within the Rolls-Royce family" in a "new entrepreneurial role in the super-luxury automotive retail sector." The shift in leadership in the North American office at Rolls-Royce comes as the automaker prepares to role out new models. It's now in the process of adding the new Dawn convertible to the Ghost/Wraith family. It's also preparing to launch its first SUV, known internally as project Cullinan, into a burgeoning new market segment for ultra-luxurious crossovers. It's an area with which Mota, having helped move so many Cayennes and helped introduce the new Macan through West Coast dealers, ought to be intimately familiar. Related Video: LEADERSHIP TRANSITION AT ROLLS-ROYCE MOTOR CARS NORTH AMERICA Rolls-Royce Motor Cars has announced that President (North America), Eric Shepherd, has decided to move to a new entrepreneurial role in the super-luxury automotive retail sector within the Rolls-Royce family. Chief Executive, Torsten Mueller-Oetvoes, said, "Eric's move is a big loss to our successful business at Rolls-Royce North America but we are highly supportive of talented managers like Eric pursuing personal business opportunities, particularly when it means they stay within the Rolls-Royce community. Eric's dynamic leadership of our North American operation has been highly effective. He has established a strong team and cohesive network which has led to a substantial strengthening of our business in the region." Shepherd will continue in office as President of Rolls-Royce NA until 31 December 2015. He will be succeeded by Pedro Mota who will join Rolls-Royce NA from Porsche Cars NA where he served as Vice President, Area West.

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.

Aeroboat packs 1,100 seahorses of Rolls-Royce Merlin V12 power

We don't typically cover boats here - this is, after all, Autoblog and not Aquablog - but every so often something comes along that makes us want to dip our toes in the water, whether it's a Jaguar-designed speedboat, a Gulf-liveried megayacht or a Lamborghini-powered Riva Aquarama. This is another one of those occasions.
Set to be unveiled at the Salute to Style show in July at The Hurlingham Club in London, the Aeroboat is a motor yacht that seems to blend retro and furutistic lines in equal measure that would make Jules Verne proud without going Steampunk. Inspired by the Spitfire fighter plane, the Aeroboat packs aircraft-inspired switchgear and shock-mounted seats into a long, sleek form. But what really has our interests piqued is what lies beneath the stylish decks.
Each of the dozen Aeroboats to be built will pack a reconditioned, marinized, fuel-injected Rolls-Royce Merlin V12 engine - the same 27-liter powerplant that propelled the Spitfire. With 1,100 horsepower on tap, it's expected to propel the Aeroboat up to a top speed between 75 and 95 knots, or 86-109 miles per hour by landlubber standards, which is pretty damn fast on the open water.