Key Developments: Bayerische Motoren Werke AG (BMWG.DE)

BMWG.DE on Xetra

107.25EUR
5 May 2015
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€0.50 (+0.47%)
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Latest Key Developments (Source: Significant Developments)

Bayerische Motoren Werke AG recalls 53,000 X3s in China on risk of short circuit - Reuters
Wednesday, 8 Apr 2015 08:37am EDT 

Bayerische Motoren Werke AG:Will recall 53,317 imported X3 models in China because a fault in the engine wiring harness and fuel supply system could cause the vehicles to short circuit, the country's safety regulator said - Reuters.The cars' engines could slow, shake or turn off as a result, according to a statement on the General Administration of Quality Supervision, Inspection and Quarantine's website.The recall affects xDrive20i, xDrive28i and xDrive35i X3 models produced between Oct. 2011 and Dec. 2013.  Full Article

Bayerische Motoren Werke AG recalls nearly 49,000 motorcycles - AP
Thursday, 26 Mar 2015 08:00pm EDT 

Bayerische Motoren Werke AG:Is recalling nearly 49,000 motorcycles in the U.S. and Canada because flanges that hold the rear wheel can crack if bolts are too tight - The Associated Press.The recall covers multiple models including certain 2005-2010 R1200GS and R1200RT motorcycles, as well as the 2006-2010 R1200GS Adventure and the 2007-2010 R1200R, 2007 R1200S and K1200R Sport.Also included are the 2005-2007 R1200ST, the 2008-2009 HP2 Megamoto, the 2006 HP2 Enduro, the 2008-2010 HP2 Sport, and the 2005-2008 K1200S, 2006-2008 K1200R and K1200GT.The recall also covers the 2009-2011 K1300S, 2010-2011 K1300R, and the 2009-2010 K1300GT.Says if bolts that hold the rear wheels to a flange are over-tightened, the flange can crack.If that happens, the bolts can loosen and the wheel may not stay secured to the bike.The problem was discovered after a 2004 motorcycle crashed in Spain last August.BMW says the rider and passenger were bruised and scraped.The recall is expected to begin April 21.  Full Article

Bayerische Motoren Werke AG Settles FTC Charges that Its MINI Division Illegally Conditioned Warranty Coverage on Use of Its Parts and Service - FTC
Wednesday, 18 Mar 2015 08:00pm EDT 

Bayerische Motoren Werke AG:BMW of North America LLC has agreed to settle Federal Trade Commission charges - FTC.Its MINI Division violated the Magnuson-Moss Warranty Act by telling consumers that BMW would void their warranty unless they used MINI parts and MINI dealers to perform maintenance and repair work.In an administrative complaint, the FTC alleged that BMW, through its MINI Division, violated a provision in the Warranty Act that prohibits companies from requiring that consumers.It’s against the law for a dealer to refuse to honor a warranty just because someone else did maintenance or repairs on the car.As a result of this order, BMW will change its practices and give MINI owners information about their rights.  Full Article

Bayerische Motoren Werke AG to pay dividend for FY 2014 - Reuters
Thursday, 12 Mar 2015 06:18am EDT 

Bayerische Motoren Werke AG:Would propose a dividend payment of 2.90 euros a share, up from 2.60 per share of common stock - Reuters.  Full Article

Bayerische Motoren Werke AG appoints Harald Krueger as new Chairman of Board of Management effective from end of AGM on May 13, 2015
Tuesday, 9 Dec 2014 04:08am EST 

Bayerische Motoren Werke AG:Appoints Harald Krueger as new Chairman of the Board of Management with effect from end of Annual General Meeting on May 13, 2015.Says Norbert Reithofer put forward to succeed Joachim Milberg as Chairman of Supervisory Board.  Full Article

Bayerische Motoren Werke AG reaffirms earnings forecast for full FY 2014
Monday, 3 Nov 2014 07:00pm EST 

Bayerische Motoren Werke AG:Reaffirms earnings targets for full FY 2014.Is aiming to achieve new records in terms of sales volume (2013: 1,963,798 units) and group profit before tax (2013: 7,913 million euros) for FY 2014.FY 2014 pre-tax profit estimate 8,807 million euros - Thomson Reuters I/B/E/S.  Full Article

Bayerische Motoren Werke AG approaches Madras HC against Competition Commission-Business Standard
Saturday, 11 Oct 2014 02:04am EDT 

Bayerische Motoren Werke AG (BMW):The Madras High Court on Friday asked the fair trade watchdog Competition Commission of India (CCI) not to take any action against luxury car maker BMW, as it (the Court) decided to hear the carmaker's plea along with other car manufacturers’ petitions against the CCI Order-Business Standard.In Aug. 2014, CCI slapped a combined penalty on 14 car makers including BMW (204.1 mln Indian Rupees ) for failing to sell spare parts in the open market.The watchdog said it wanted to make the components market more broad based, user friendly and less expensive for consumers.  Full Article

Bayerische Motoren Werke AG confirms FY 2014 guidance
Monday, 4 Aug 2014 08:00pm EDT 

Bayerische Motoren Werke AG:Says reaffirms its sales volume and earnings forecast for FY 2014.Says deliveries to customers (2013: 1,963,798 units) and Group profit before tax (2013: 7,913 million euros) are both expected to rise significantly in FY 2014.FY 2014 sales 80.02 billion euros - Thomson Reuters I/B/E/S.FY 2014 net income 5.78 billion euros - Thomson Reuters I/B/E/S.FY 2014 profit before tax 8.63 billion euros - Thomson Reuters I/B/E/S.  Full Article

Bayerische Motoren Werke AG to build a new luxury car factory-Business Standard
Thursday, 3 Jul 2014 11:39pm EDT 

Bayerische Motoren Werke AG:Will invest $1 billion to build a new luxury car factory in northern Mexico that will start production in 2019 as part of an effort to expand its presence in the United States-Business Standard.  Full Article

Bayerische Motoren Werke AG launches X5-Business Standard
Thursday, 29 May 2014 06:36am EDT 

Bayerische Motoren Werke AG:Today launched its third generation of new X5 in India at 7.090 mln Indian Rupees-Business Standard.  Full Article

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Audi's race to catch up with BMW hurts profit margin

BERLIN - Audi's race to catch up with German rival BMW is taking its toll on its profit margin, although the carmaker delivered higher underlying earnings on sales of its luxury saloons and sport-utility vehicles.

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