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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 sells 500,000th car in US

Mini has officially sold 500,000 vehicles in the United States. The achievement came just a few days after the company commemorated its 11th anniversary in America. When the automaker first opened its doors to US buyers in 2002, it sold just 24,590 unis. Last year, the automaker moved 66,123 vehicles thanks in part to an expanded lineup that now includes the Clubman, Countryman, Coupe, Roadster and Paceman in addition to the stalwart Hardtop and Convertible. The company plans to have some 130 dealerships nationwide by the end of 2013; there are currently 116 Mini dealers in the US.
Mini helped reignite an interest in small cars with plenty of personality when it debuted the Cooper 11 years ago. The move helped pave the way for machines like the Fiat 500, Ford Fiesta and Chevrolet Sonic. Check out the quick press release on the 500,000th Mini model below.

Honda engines and giant killing in the classic Mini Cooper

Electric Federal has taken a fresh look back at the enduring legacy of original Mini with a video interview with Heritage Garage's Graham Reid, one of the foremost experts on classic Minis. As Electric Federal points out, it's important to remember that the Mini did not start out as a performance car. It was built in response to the Suez Canal crisis of the mid-50s, which had a similar effect on British gas prices as OPEC did on American prices in the 1970s - rationing and rapid price jumps.
Through the years, Minis have grown from their budget roots to become seriously competent performance machines. As Reid says, a 150-horsepower Mini on the right track should have no problem outpacing a contemporary Porsche 911.
For some time now, classic Mini owners have been dropping Honda engines under the tiny hoods of their classics. With up to 250 horsepower pulling a car that tips the scales at barely 1,200 pounds, the upgraded Mini is "a real sleeper," Reid says. Interestingly, Reid doesn't mention another increasingly common swap in the Mini community - Suzuki Hayabusa-powered Coopers.