BMW Lost Money Last Summer But Sold More Cars

The reasons for which are numerous and complex.

Although 2018 still has a few months to go, the sales results from the third-quarter of the year are in and, as it turns out, BMW actually lost money. According to its own Q3 report and an analysis by Reuters, the German automaker reported a 27 percent drop in operating profit to $2 billion due to currency effects, higher raw material prices, higher research and development costs, and trade tensions between the US and China. Oh, and there’s also a price war going on in Europe.

Interestingly, BMW reported a slight increase in overall vehicle deliveries for the period of July through September. However, overall operating return dropped from 8.6 percent to 4.4 percent, which was below BMW’s targeted range of 8 to 10 percent.

“Along with the rest of the industry, we are increasingly confronted with adverse external factors, the negative impact of which cannot be fully offset," said Chief Financial Officer Nicolas Peter. BMW hopes to save money by bringing down some costs in order to better help offset spending on upcoming vehicle launches, specifically EVs. As for that price war in Europe, the cause can be pinpointed to new emissions testing rules. BMW also had to set aside funds to finance recalls of fire-prone vehicles, including the 5 Series diesel, and other warranty claims.

And then there are the trade tensions between the US and China. Tariffs are having an effect and BMW, like all other automakers, doesn’t expect this disagreement to be solved in the near future. An increase in raw material prices also didn't help matters.

“Compared with 2017, additional upfront expenditure of around 1 billion euros for the mobility of the future and a high three-digit million euro negative impact from exchange-rate and raw materials price developments had been factored into expected earnings for the year,” BMW said.

One of the key raw materials automakers need these days is cobalt. BMW plans to buy more of it and then make it available to battery cell suppliers in order to secure its own supply of batteries for its upcoming EVs. Like any automaker, BMW wants to end the year on a high note by actually making money, and the clock is ticking fast to ensure that happens.

Is It Worth Your Money?

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BMW Charging Lots Of Money For Fancier X1

The new X2's base price is nearly $5k more than the X1's.

If there’s a new automotive segment that could be there but currently isn’t, leave it to BMW to fill in the blank. The German automaker has become a master at finding potential new segments. Best example: the X6. Nobody asked for it and yet it’s become a huge success. And now BMW is attempting to replicate that success with its new X2, a sleeker version of the X1 crossover. With the aim of appealing to younger buyers, the X2 definitely has the looks to do so, but when it comes to pricing, well, that may be a hindrance.

CarsDirect has learned that 2018 BMW X2 xDrive28i pricing begins at a hefty $39,395, including the $995 destination fee. To compare, that’s $2,500 more than the X1 xDrive28i. What are the main differences between the two? The X2 has sharper styling with its coupe-like roof and is also 3.2-inches shorter. Both crossovers share the same 2.0-liter turbo four with 228 hp and most other mechanicals. Outside of BMW, what else will the X2 be competing against? There’s the Mercedes-Benz GLA250 4Matic, which begins at $36,395, the Acura RDX ($38,295), and the Land Rover Discovery Sport SE 4x4 ($38,790). And remember, that nearly $40k X2 base price is just that, the base price.

Tack on extras such as the Driver Assistance Package ($700), M SportX Package ($4,650), and the $2,350 Convenience Package, and you’re awfully close to $50k. Oh, you want leather seats? No problem. The X2’s price will immediately climb above $43,000 in that case. BMW figures X1 shoppers who want something a bit more unique with sexier styling will be tempted to cough up the extra dough, and this assumption will more than likely turn out to be true.

Does A Hybrid Car Actually Save You Money?

Are they really the fuel-efficient alternative they claim to be?

Buying a new car tended to be a lot less complicated a few years ago. If you wanted fuel efficiency you bought the one with the small gasoline engine. If you craved performance you got the big V6 or V8. Simple. But now we have turbochargers, electric vehicles and the most confusing of all, the gasoline-hybrid offerings. These cars make use of both an internal combustion gasoline engine and an electric motor for propulsion, while you can get a variety of different ones such as plug-in hybrids, mild hybrids and full hybrids.

Since they do not rely on electric power alone, hybrids offer reduced range anxiety and you do not have to plan longer trips around available charging points. They also promise improved fuel economy versus their gasoline-only powered counterparts. However, as with any solution that claims to offer the best of both worlds, there are inevitable compromises too. The added complexity and weight of an electric motor and battery pack tend to impact performance levels and increase the base price. Claimed economy improvements are also heavily reliant on the type of driving you will be doing.

In light of this, we took a look at a wide range of popular hybrids on the market and assessed whether they really are the fuel-efficient alternative they claim to be.

The BMW 330e uses a 2.0-liter four-cylinder turbocharged engine and electric motor to produce 248 hp and a strong 310 lb-ft of torque. That’s puts it on an equal footing to the 330i power wise and gives it a 52 lb-ft torque advantage. Dig a little deeper though and you find that the lighter and less complicated 330i actually outsprints it to 60 mph (5.5 seconds versus 5.9), and there is a fairly steep $5,000 price premium for the hybrid. The 34 mpg combined rating of the 330i falls well short of the 71 mpg-e rating of the 330e but you will have to make full use of the electric range to match those figures.

A similar scenario can be found at Audi, the A3 Sportback e-tron offers 204 hp from its hybrid powertrain and a combined 83 mpg-e. Promising, but the base 186-hp A3 Sedan is even quicker (thanks to being much lighter) and even at 29 mpg overall, it is still going to cost you less to run thanks to a nearly $9,000 difference in pricing. So, going the hybrid route does not seem to make a whole lot of sense in the premium sector, what about lower down the range? The Prius has been around longer than just about any other mass-produced hybrid and is available in no less than four different styles.

The underlying technology is well-proven and the system is unobtrusive in its operation. Fuel economy is among the very best in the business but rivals like the Hyundai Ioniq claim to be even more efficient and there are a number of similarly priced and less controversially styled alternatives out there. One of them is the Kia Niro Hybrid. Available in a plug-in hybrid version too, it is the cheaper standard hybrid that seems to make more sense. At $23,340 for the base model you get a combined 50 mpg which is class-leading and while it is no ball of fire it is quick enough for its segment. The plug-in version offers longer electric-only running but prices start at $27,900 so it makes less financial sense.

Compared to a conventional gasoline-powered car, the Niro Hybrid is a valid alternative and while it may not quite be the compact crossover Kia claims (it is FWD only and hardly any higher off the ground than a standard sedan), it is a competent and efficient city car. The Chevrolet Malibu is available with a 182-hp hybrid drivetrain and carries a sticker price of $28,795, economy ratings are 49/43mpg in city/highway driving and it straddles the line between cars like the Prius and upmarket German sedans. It looks like a viable alternative to the two gasoline powered offerings in the Malibu range too. The LT trim is equipped with a 160-hp 1.5-liter turbocharged engine and comes closest in terms of standard equipment to the hybrid.

Fuel consumption figures are worse at 27/36 mpg for city/highway driving, however the base price is $2,700 less, so you will only reap the benefits once you have covered a lot of miles in the pricier hybrid. The Acura NSX is a good example of hybrid technology being used to boost power levels rather than singularly focusing on economy figures. Three electric motors and a twin-turbo 3.5-liter V6 deliver 573 hp to the road and the 0-60 mph time of under 3 seconds is firmly in supercar territory. The 21/22 mpg city/highway fuel economy figures are not bad considering the performance on offer. However, if we look at something with similar acceleration, say a 580-hp Porsche 911 Turbo S, the figures are virtually identical.

Both are priced at around $160,000 too, so in this case there is not much benefit in opting for the more complex hybrid setup from an economy point of view. The Panamera 4 E-Hybrid offers 462 hp, a 0-60 mph time of 4.4 seconds and good fuel economy. The Panamera 4S costs $3,000 more, makes 440 hp, gets to 60 mph 0.2-seconds quicker, and offers 23 mpg overall. This is nowhere near the E-Hybrid’s effort but you will have to make regular use of the 30-mile electric-only range to match the claimed figures. Is that likely in a performance-oriented luxury sedan? That comes down to the individual but seems like an unlikely scenario in most cases.

Whether it is performance or economy you are looking for out of a hybrid setup, it is worth comparing your potential purchase to other similar conventionally powered alternatives as the benefits may not always be a given. We have found that higher initial purchase prices, lots of time spent on the highway and enthusiastic driving will quickly negate any economy benefits a hybrid car may offer. Conversely, if you spend the majority of your commute in the traffic, stick mainly to city roads and can take advantage of the electric-only mode on a regular basis, a hybrid can offer a significant fuel saving.

One area where the majority of hybrids tend to suffer though is in driving enjoyment; this is particularly apparent at the lower price ranges. As the Acura NSX proves however, if you are willing to pay the price, a hybrid sports car is a different matter entirely. Porsche’s hybrid offerings too can be just as engaging as their conventional models and their commitment to hybrid technology is apparent in the fact that the latest Turbo S Panamera is a hybrid model.

BMW Lost Money Last Summer But Sold More Cars

The reasons for which are numerous and complex.

Although 2018 still has a few months to go, the sales results from the third-quarter of the year are in and, as it turns out, BMW actually lost money. According to its own Q3 report and an analysis by Reuters, the German automaker reported a 27 percent drop in operating profit to $2 billion due to currency effects, higher raw material prices, higher research and development costs, and trade tensions between the US and China. Oh, and there’s also a price war going on in Europe.

Interestingly, BMW reported a slight increase in overall vehicle deliveries for the period of July through September. However, overall operating return dropped from 8.6 percent to 4.4 percent, which was below BMW’s targeted range of 8 to 10 percent.

“Along with the rest of the industry, we are increasingly confronted with adverse external factors, the negative impact of which cannot be fully offset," said Chief Financial Officer Nicolas Peter. BMW hopes to save money by bringing down some costs in order to better help offset spending on upcoming vehicle launches, specifically EVs. As for that price war in Europe, the cause can be pinpointed to new emissions testing rules. BMW also had to set aside funds to finance recalls of fire-prone vehicles, including the 5 Series diesel, and other warranty claims.

And then there are the trade tensions between the US and China. Tariffs are having an effect and BMW, like all other automakers, doesn’t expect this disagreement to be solved in the near future. An increase in raw material prices also didn't help matters.

“Compared with 2017, additional upfront expenditure of around 1 billion euros for the mobility of the future and a high three-digit million euro negative impact from exchange-rate and raw materials price developments had been factored into expected earnings for the year,” BMW said.

One of the key raw materials automakers need these days is cobalt. BMW plans to buy more of it and then make it available to battery cell suppliers in order to secure its own supply of batteries for its upcoming EVs. Like any automaker, BMW wants to end the year on a high note by actually making money, and the clock is ticking fast to ensure that happens.

Are Plug-In Hybrids A Waste Of Time And Money?

Are Plug-in hybrids worth the investment? Read this before taking the plunge.

I’ve always loved the idea of hybridized drivetrains in vehicles. My inner technophile felt an inexplicable attraction to the idea of combustion power – in all its noise inducing, fume creating, rev the hell out of it glory – blended with the instantaneous torque – sweet, addictive torque – of an electric motor. Of course the rest of the world will tell you that hybrids are the future for their efficiency properties – reducing fuel economy and thus the reliance on fossil fuels. But I’m a nerd, so my attentions were elsewhere on the topic.

The notion of hybrid performance was brought to the fore by none other than the emergence of the holy trinity of hybrid hypercars – the McLaren P1, Ferrari LaFerrari, and Porsche 918 Spyder. But in the real world – for the bulk of us that can’t afford such engineering marvels, hybrid and plug-in hybrid (PHEV) commuter cars are the closest we’re likely to get to this tech for some time. But all that glitters isn’t gold, and in the real world, the functionality of hybrid offerings differs from that of bona fide performance car royalty. Real world hybrid and PHEV cars also have some real world flaws too, along with some real world benefits. But do the pros outweigh the cons? My recent experiences in a PHEV Volvo XC90 T8 eAWD brought some of these to light.

The Pros

With the many legal battles fought against manufacturers in the United States in recent years over fuel consumption, manufacturers have been forced to be more honest with their figures. As a result, you’re likely to get pretty close to claimed figures in a hybrid. But because they’re being more honest, the figures often aren’t all that spectacular. Take for example the Volvo XC90 T8 PHEV – with claimed combined consumption of 27 mpg – offering only 3 mpg more than its non hybrid counterpart, the T6.

But think of where you use the most fuel when driving, and it’ll be in one of two scenarios: sitting in traffic around the office, or driving through suburban streets on your way home, where speeds are low and stops are frequent. It’s here, right here, where the hybrid makes the most sense. Off goes the engine and the 5 mile traffic jam or the last 10 mile commuter in suburbia is managed without a single drop of archaic fossil fuel being burnt. Your highway journey still uses fuel – although nowhere near as much as the power figures of most PHEVs would suggest; which leads me to the next benefit of hybrids, and particularly those of the plug-in variety.

Performance benefits hugely, even on commuter based hybrids – though be careful not to judge their abilities out of context. Often, a dash of electric juice is enough to up power outputs by nearly 100 horsepower; sometimes more, sometimes less. The extra power and corresponding torque – instantly available – gives you a shot out of the blocks that’ll scare even the likes of a brawny performance hot hatch, though the advantage will most often be short lived. But in a city environment, where these cars are meant to be used, that brief dash is all you need to make a gap in the traffic or tear away from the intersection.

That lag-free, ‘suck your kidneys through the back of your seat’ instantaneous torque is addictive. If you haven’t yet had a hit, be careful – the first is free, but it leaves every other accelerative experience lacking in its wake. And it doesn’t care for weight either. Volvo’s XC90 T8 is a hefty SUV at more than 5100 pounds, but the 0-60 mph dash takes less than 5.6 seconds. Electrical torque doesn’t discriminate. But while the torque may be addictive, hybrid and plug-in hybrid vehicles aren’t without their vices…

The Cons

Many hybrids are born out of necessity to have an offering in the market – and as such their architecture isn’t designed with heavy battery packs in mind. Add the additional 300-500 pounds to a standard commuter hatch, and suddenly you have a very overweight vehicle, with all the compromises that brings with it – more body roll, suspension that can’t handle the weight, and poor braking performances. More often than not the fuel consumption benefits on a combined cycle are small compared to non-hybrid siblings using similar drivetrains.

Volvo’s XC90 for example offers similar figures for the T6 and T8 – both using the same twin-charged 2.0-liter engine. Out on the open road, both hybridized and non hybrid versions of a vehicle will consume roughly the same amount –posing little benefit in the area of efficiency, where hybrids are supposed to make the biggest difference. But I wonder, just how much more efficient that 2.0-liter twin-charged Volvo motor would be if it wasn’t hauling around an extra ±500 pounds of battery in the floor? The batteries, although heavy, also don’t offer a vast range in most cases. In the case of the Volvo XC90 T8, that’s a claimed 14 miles.

Few offer more than that, and while the distances you need electric power for are normally short, that range seems to deplete far quicker than the numbers might suggest – particularly if you leave the car’s computer systems to manage when electric power is used. You end up needing to charge them far more frequently than you’d think – overnight, when you arrive at the office, and then when you get home again, provided you haven’t done any other electrified running about throughout the day. If you live in some states, this isn’t a problem – with fast charge stations and charging infrastructure to be found quite easily in many areas – but in others it poses more of a problem.

The process of charging is also a rather time consuming one – a full charge takes a minimum of 3 hours provided the electricity grid plays its part, and provided you’re using a 240-volt power supply. There is some reprieve, though, as several hybrids can be put into a ‘re-gen’ mode to recoup some of the energy used – though the amount they regenerate is diminutive and this feature is only beneficial if your end destination is definitely downhill from the starting point of your trip.

So are Hybrids and PHEV’s worth it?

That’s the big question – trying to decide whether these engineering marvels are worth the extra weight, the extra inconvenience, and the extra money – all for what are arguably ‘eco bragging rights’ and the odd tax benefit and ability to use HOV lanes in some states. I like hybrids – I love the technological brilliance that goes into making them whizz silently in EV-only mode; the mechanical innovation behind blending futuristic electric energy with archaic fossil fuel combustion. For those that conform to a specific set of circumstances, geographically and habitually, they’re brilliant vehicles – wonders of engineering advancement.

For the rest of us, the 90% that don’t live in an ideal world, hybrids are more of a novelty item, a cool idea but one without real world applications……or perhaps they’re something more; portals to the future, perhaps. These flawed pieces of engineering are currently limited by engineering and battery technologies. But in a rapidly advancing technological world, with the likes of Tesla and Chevrolet making huge strides in electrified mobility, maybe hybrids and PHEVs are but small keys to unlocking the next great motoring evolution.

With every incarnation, hybridized vehicles will continually evolve and improve, until eventually what made the McLaren P1, Ferrari LaFerrari, and Porsche 918 Spyder so incredible will permeate our everyday driving experiences. Not only will the motoring world be more environmentally friendly, but the augmentation of combustion with electricity, and the performance benefits it offers, will give driving enthusiasts broadened horizons and new levels of excitement and appeal.