Equities

Reuters reveals BMW delays next generation Mini over Brexit uncertainty, costs

Reuters reveals BMW delays next generation Mini over Brexit uncertainty, costs

Reuters exclusively reported that BMW has delayed the development of its next generation Mini as it seeks to cut costs and as uncertainty over Britain’s trade relations with the European Union make long-term investment decisions harder. In March, BMW said it would seek 12 billion euros ($13.3 billion) in cost savings and efficiency gains by the end of 2022. To reach its goal, BMW is cutting the number of available engine and gearbox combinations by 50% and slashing vehicle development costs.