Audi BMW

During a worldwide economic crisis and turmoil in the automotive industry, BMW Group recorded 2009 net profit of 210 million euros, or $286 million, a drop of 36.4 percent from the previous year.

With less than three months left before the first official photos will hit our inbox, the next and second generation BMW X3 continues to be in the center of attention. First Final Evaluation Phase photos were spotted last week by the fearless spy photographers.

Today, AutoWeek magazine publishes their latest rendering of the premium mid-size Sports Activity Vehicle. As portrayed in this rendering as well, the 2011 BMW X3 has grown in size, 15.15 feet in length. The redesigned/reinvented X3 is built on the next generation 3 Series platform and features a more rounded design lines and a sleeker look.

Since the X1 is the new entry-level model in the X family, the 2011 X3 will move up a notch, both in size and style with similar dimensions to the first generation BMW X5.

The “kicked-up” window line that first saw the daylight in the X3 will be again evident and it will be seen as an X3 characteristic, a design element that will be associated with the model. It will also have will have a roof line slightly lower than the current mode, giving the car a sportier look.

The newly redesigned X3 will be aimed at customers looking for a dynamic SAV and United States remains the main market.

The future X3 is moving its production from the Magna factories in Graz, Austria, to the U.S soil at the Spartanburg plant, a move that will reduce some of the manufacturing costs.

The new BMW X3 will be introduced in late 2010 with sales beginning in 2011.

[Source: AutoWeek via GermanCarForum - Klier]

We’ve all seen the spy-shots of a rumored ///M 1 series car, but speculation around its production is making us sea sick. Of course, as enthusiasts, we hope this car will come to fruition, but we have heard a lot of skepticism around the validity of M1 rumors.

First of all, the current 1 series is late in its life cycle, already providing thrills to the driving public for over 6 years. Would the M division really set about developing an M car from an aging chassis? Typically M needs 3 years to develop a production BMW into an ///M car.

The next nail in the M1’s proverbial coffin was its failure to make an appearance in Geneva. This was a surprise to some and a disappointment to many. Again, the life cycle clock is ticking, so if not in Geneva, then when?

Well, if Scott 27 is to be believed, then here are the answers. The M1 (1 Series M car) is still slated for production and the first official details will be released at the end of this year. As for price, it is rumored to ring in around $10,000 Euros more than the 135i, or around 50 to 60,000 USD or 60 to 70,000 CAD (these figures are extremely flimsy – take with a grain of salt). While the 1 Series is “over the hill,” we will still see an ///M car based upon it – such is the enthusiasm of Dr Kay Segler for an attainable ///M variant. Of benefit to the design team is the long established 1 series platform. Engineering costs will be reduced through heavy modification and retooling of an existing BMW engine (we don’t know which one, but we suspect the N55). With the aforementioned cost reductions, more time and attention will be paid to the balance and handling of the M1. A highly tuned chassis will efficiently transfer power from the engine to the road – it is said that the engineers are working to emulate the best qualities of BMW’s beloved E30 and 2002. The M1 will firmly place below the M3 in terms of its performance envelope and stature, but clearly the bar is set very, very high.

A few months after the M1’s release, we will see a cabriolet version for open-air motoring. The M1 will come equipped with a manual transmission or choice of an M-DCT (notice how I listed these in order of importance). When can you write the check? Official release is expected at the end of this year and global sales should begin mid 2011 with M1s rolling off showroom floors. The M1 should see a two-year production run into 2013 when the next generation 1 Series is revealed. Power figures have taken a bump in the right direction, apparently closer to the 370 hp mark. Further weight reduction is rumored, we can only hope.

Speaking of the next generation 1 Series, Scott 27 goes on to offer more information: the 5 door hatch will premier first followed by the 3 door hatch. The coupe and cabrio will follow with production starting in 2013. Really hope the Mayans were wrong about that calendar.

[Source: Scott27 for 1Addicts | Rendering by Roger Ligtheness ]

We all come to love BMW’s famous 4-year maintenance program. As many of you know, BMW is one of the few companies left to offer a Car Free Maintenance Program for any vehicles still under the original factory warranty. In a recent article, we spoke about the options you have when your BMW warranty expires, but that’s a whole different story and you can read upon it.

Last month, BMW published a video on Youtube featuring their BMW Ultimate Protection Program, a new protection program that offers advanced levels of insurance to protect against damage, loss or theft of vehicles, full coverage of vehicle service costs and long life options for long-time BMW drivers.

The BMW Ultimate Protection Program consists of three complementary plans:

• BMW Extended Vehicle Protection
• BMW Guaranteed Auto Protection
• BMW Tire & Wheel Protection

Here is a quick description of these plans:

BMW Extended Vehicle Protection

All BMW drivers are not created equal. Whatever your driving habits happen to be, there’s an extended service contract designed for you. BMW tailored the BMW Extended Vehicle Protection program with your needs in mind, offering you a level of security you won’t find with any third-party contract provider.

Program benefits include:

• Covered repairs performed at an authorized BMW repair facility.
• Only original BMW parts for repairs.
• 24-Hour BMW Roadside Assistance, in the unlikely event of a breakdown.
• A worry-free ownership experience.

BMW Guaranteed Auto Protection (GAP)

In the event of a vehicle theft or an accident that results in a total loss, most insurance companies only reimburse the owner for the market value of the car. This, along with the deductible, can create a significant gap between what your insurer will pay you and the balance on your loan.

Because of common risks associated with theft, collision and natural disaster, the chances of your vehicle being involved in a total loss are greater than you think. With BMW GAP, you can be confident your deficiencies or deductibles will be paid off.

BMW Tire & Wheel Protection

The BMW Tire & Wheel Protection program provides coverage in the event of damage to your tires or wheels as a result of metal, nails, glass, debris, potholes, blowouts, etc. (excluding cosmetic damage). You can choose a plan that covers your vehicle for up to 5 years.

Program benefits include:

• Ultimate peace of mind. You no longer have to worry about unnecessary financial hardship in the event of damage due to a road hazard. We have you covered.
• Damaged tire(s) will be replaced, not plugged or patched.
• There are no maximum number of occurrences, no claim limits and no claim aggregate.
• Benefits are not restricted by vehicle mileage.
• Program benefits continue even if you replace your tires.
• Up to $100 of towing expenses are covered.
• Transferable — adds resale value.

Some of you might have already known about these protection plans, but for those of you new to the brand, the links above can be quite useful.

The BMW Group recorded positive earnings for the financial year 2009 as planned despite the ongoing worldwide financial and economic crisis. Profit before tax rose by 17.7% to euro 413 million (2008: euro 351 million). Net profit amounted to euro 210 million (2008: euro 330 million/-36.4%) due to the higher effective tax rate. Revenues decreased moderately by 4.7% to euro 50,681 million (2008: euro 53,197 million). Based on the proposal of the Board of Management and Supervisory Board, the dividend will remain unchanged against the previous year at euro 0.30 per share of common stock and euro 0.32 per share of preferred stock.

“We performed well in 2009 despite difficult market conditions worldwide. Our cost management and efficiency improvement measures had a positive impact, even though the effects of the worldwide financial and economic crisis were still being felt“, stated Norbert Reithofer, the Chairman of the Board of Management of BMW AG on Thursday in Munich. “We are proposing a dividend for 2009 despite the difficult economic climate, demonstrating the confidence we have in our operating strength, and we also want our shareholders to participate in the company’s performance“, continued Reithofer.

Automobiles segment records fourth-quarter EBIT of euro 93 million

Earnings of the Automobiles segment fell in 2009 due to lower unit sales brought about by the weak economies worldwide. Nevertheless, thanks to a more stable market environment towards the end of the year, the segment was able to generate a fourth-quarter profit before financial result (EBIT) of euro 93 million. For the full year, the segment recorded negative EBIT of euro 265 million (2008: positive EBIT of euro 690 million) and a loss before tax of euro 588 million (2008: profit before tax of euro 318 million). Revenues fell to euro 43,737 million (2008: euro 48,782 million).
In total, the BMW Group sold 1,286,310 BMW, MINI and Rolls-Royce brand vehicles in 2009 (2008: 1,435,876 units/-10.4%). This performance enabled the BMW Group to increase its market share in the premium segment and, as previously announced, to retain its position as the world’s leading premium manufacturer.

A total of 1,068,770 BMW brand cars (2008: 1,202,239 units/-11.1%) were sold in 2009, putting the BMW brand once again well ahead of relevant competitors in the premium segment. Strong sales increases were achieved by the BMW 7 Series (52,680 units/+35.7%), the BMW X6 (41,667 units/+56.8%) and the BMW Z4 (22,761 units/+26.4%). In Germany, both 7 Series (7,439 units/+74.8%) and the BMW X5 (10,933 units/-31.9%) and X6 (4,940 units/+51.0%) finished the year as clear leaders in their relevant segments. Since their launch at the end of October 2009 up to the end of the year, 8,499 units of the BMW X1 and 3,052 units of the 5 Series Gran Turismo had been sold worldwide.

The MINI brand sold 216,538 units worldwide in 2009 (2008: 232,425 units/-6.8%). The model mix remained at a high level: more than one half of the brand’s customers (53.6%) opted for the MINI Cooper, with 26.2% selecting the MINI Cooper S and 20.2% the MINI One.

Rolls-Royce sold 1,002 motor cars (2008: 1,212 units/-17.3%) during the year, thus remaining the clear market leader in the ultra-luxury segment. The new Rolls-Royce Ghost made a good start, with 167 vehicles handed over to customers in December 2009.
The BMW Group grew strongly in 2009 in the emerging markets of China (90,536 units/+37.5%), Brazil (6,398 units/+118.8%) and India (3,619 units/+24.4%), achieving new sales records in all three markets. “We plan to grow our sales again in China, Brazil and India in the current year “, stated Reithofer. Germany was the largest single market for the company in 2009 for its BMW and MINI brand cars, with a total of 258,012 units (2008: 284,786 units/-9.4%) sold. With 33,517 cars handed over to customers, the MINI brand recorded its most successful year in Germany to date. The BMW Group also plans to increase sales in the German market during 2010, and hence, to increase market share in the premium segment.

In the USA, the BMW Group sold 241,727 vehicles (2008: 303,190 units/-20.3%) during the past year. The BMW brand, with 196,502 units sold, remained the best performing European premium car brand in the USA. The BMW Group forecasts that sales will increase in the US market during the current year.

EBIT of euro 19 million for Motorcycles segment in 2009

The earnings performance of the Motorcycles segment in 2009 was also adversely affected by difficult business conditions. EBIT fell to euro 19 million (2008: euro 60 million). Segment revenues totalled euro 1,069 million (2008: euro 1,230 million). With 87,306 units (2008: 101,685 units/-14.1%) sold worldwide, BMW Motorcycles recorded a moderate drop in sales volume compared to the market as a whole.

Sharp rise in earnings of Financial Services segment

Earnings of the Financial Services segment rose considerably in 2009 following a significant burden last year due to additional charges for residual value and credit risks. The EBIT rose to euro 355 million (2008: negative EBIT of euro 216 million). Segment revenues totalled euro 15,798 million (2008: euro 15,725 million). The increase in the credit loss ratio to 0.84% (2008: 0.59%) was in line with expectations.
The volume of new retail customers contracts declined by 15.8% to euro 24,709 million. The proportion of new BMW and MINI brand cars financed by the Financial Services segment amounted to 49.0%, up by 0.5 percentage points compared to the previous year.

Workforce of approximately 96,000 employees at end of 2009

The BMW Group’s workforce decreased over the past year as a result of a combination of natural attrition, pre-retirement part-time working arrangements and voluntary employment contract termination agreements. The BMW Group workforce comprised 96,230 employees at the end of the year (December 31, 2008: 100,041 employees/-3.8%) worldwide. The number of trainees remained at a high level, namely 3,915 compared to 4,102 one year earlier.

BMW Group cautiously optimistic for 2010

The worldwide financial and economic crisis will continue to have an impact on the automobile industry during the current year. The BMW Group will, however, grow profitably thanks to new models and the expected gradual global economic recovery in 2010. “We are heading into the new year cautiously optimistic. Our new models will provide us with a tailwind over the course of the year. We fully intend to remain the world’s leading provider of premium cars in 2010 and plan to increase sales within the single digit percentage range to over 1.3 million vehicles“, added Reithofer.
One of the most important model developments in 2010 is the new BMW 5 Series which will be launched at the end of March, thus providing further momentum from the beginning of the second quarter. The new BMW X1 and BMW 5 Series Gran Turismo models – both of which were very successfully launched at the end of 2009 – will also have a positive impact on sales performance in 2010. The MINI Countryman will be introduced onto the markets during the current year.

The 2010 BMW 750Li with xDrive offers the luxury and legroom of a limo but the power and handling of a, well, BMW

GERMAN luxury car maker BMW on reported a 36.4 per cent drop in 2009 net profit but also issued an upbeat 2010 forecast.

Successful Ginetta driver Nigel Moore is set to make his single seater debut this season after his participation in the 2010 Formula Palmer Audi Championship was confirmed today (11/03).

Ingolstadt, March 11, 2010 -- Exactly 183 days will have passed between the 2009 DTM finale and the 2010 season opener at the Hockenheimring (April 24) -- this equates to just about half a year, which is an extremely long break for a sportsman.

A £40,000 vehicle seized from a criminal gang begins a new life as a police car this week.