just when the 1series was hot news... there's going to be a new entry level bmw.
based on the mini platform, bmw is very close to producing its first FF (gasp) vehicle.
-edit-
the pic is the Concept CS, and some speculate that it could look like this...
"There have been numerous reports pertaining to the possibility of BMW building a new model positioned below the 1-series hatch that’ll share its underpinnings with the current Mini. Not only would the car be the first FWD BMW, it would also be cheapest as it’s rumored to cost less than the aforementioned Mini."
"How the new model will live up to the ‘Ultimate Driving Machine’ ethos, however, is anyone’s guess."
link