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Bayerische Motoren Werke AG (BMWG.DE)

BMWG.DE on Xetra

2 Dec 2016
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Latest Key Developments (Source: Significant Developments)

Bayerische Motoren Werke AG - Swiss court confirms 156 mln Swiss franc fine against BMW - Reuters
Thursday, 3 Dec 2015 07:54pm EST 

Bayerische Motoren Werke AG:Switzerland's Federal Administrative Court has upheld a 156 million Swiss franc ($157 million) fine against German luxury carmaker BMW BMWG.DE that anti-trust authorities levied in 2012, the court said on Friday. - RTRS.It dismissed an appeal by BMW in a ruling that can be appealed to the Swiss Supreme Court.The court "finds that the contractual clause which bans exports by BMW dealers located in the European Economic Area - RTRS.To countries outside the EEA and therefore also into Switzerland constitutes an unlawful vertical territorial restriction within the meaning of the Swiss Cartel Act," it said in a media release - RTRS.  Full Article

Bayerische Motoren Werke takes over Chinese leasing company - Reuters
Wednesday, 11 Nov 2015 02:15am EST 

Bayerische Motoren Werke AG:Takes over Chinese leasing company Herald International Financial Leasing Co - Reuters.Herald International Financial Leasing Co had 2014 sales of 208 million yuan renminbi.No purchase price disclosed.  Full Article

Bayerische Motoren Werke reaffirms FY 2015 outlook
Monday, 2 Nov 2015 07:00pm EST 

Bayerische Motoren Werke AG:Reaffirms its targets for FY 2015.Solid increases, and hence new record figures, are being targeted in FY 2015 for sales volume and Group profit before tax.Expects a profit margin in the automotive division of 8-10 percent this year, compared with 9.6 percent in 2014, as well as higher sales and pre-tax profit.  Full Article

Bayerische Motoren Werke AG - Mini recalls 86,000 cars to fix power steering problems -AP - Reuters
Wednesday, 28 Oct 2015 09:44am EDT 

Bayerische Motoren Werke AG:Under pressure from U.S. safety regulators, BMW's Mini brand is recalling more than 86,000 cars because the power steering could fail -AP.The recall covers the Mini Cooper and Cooper S models from 2002 to 2005. BMW says in documents filed with regulators that the power steering can fail because of manufacturing or other issues - AP.If that happens, manual steering remains but it would take greater effort to steer - AP.BMW at first extended steering warranties, but last month the agency sought a recall. BMW agreed but said the problem wasn't an unreasonable safety risk. Dealers will replace power steering parts if needed starting in December - AP.  Full Article

Bayerische Motoren Werke AG drops on report of diesel cars exceeding emissions limits - Reuters
Wednesday, 23 Sep 2015 08:00pm EDT 

Bayerische Motoren Werke AG:Shares in BMW drop in mid-morning trade after a report that some of its diesel cars were found to exceed emissions standards - Reuters.German trade magazine Auto Bild says the BMW X3 xDrive 20d exceeded the Euro 6 limits on nitrogen oxide emissions more than 11-fold in road tests by the International Council on Clean Transportation - Reuters.Auto Bild cites BMW as saying: "There is no function in BMWs for recognising exhaust cycles, and all exhaust systems remain active outside of exhaust cycles." - Reuters.A spokesman for BMW tells Reuters he has nothing to add to the comments cited by Auto Bild - Reuters.  Full Article

Bayerische Motoren Werke AG to Pay $1.6 Million and Offer Jobs to Settle Federal Race Discrimination Lawsuit - EEOC
Monday, 7 Sep 2015 08:00pm EDT 

Bayerische Motoren Werke AG:U.S. District Court for the District of South Carolina entered a consent decree ordering BMW Manufacturing Co., LLC to pay $1.6 mln - EEOC.Says and provide job opportunities to alleged victims of race discrimination as part of the resolution of a lawsuit filed by the U.S. Equal Employment Opportunity Commission - EEOC.He lawsuit, filed by EEOC's Charlotte District Office, alleged that BMW excluded African-American logistics workers from employment at a disproportionate rate when the company's new logistics contractor applied BMW's criminal conviction records guidelines to incumbent logistics employees - EEOC.The complaint alleged that when BMW switched contractors handling logistics at its production facility in Spartanburg, S.C., in the summer of 2008 - EEOC.It required the new contractor to perform a criminal background screen on all existing logistics employees who re-applied to continue working in their positions at BMW - EEOC.At that time, BMW's criminal conviction records guidelines excluded from employment all persons with convictions in certain categories of crime, regardless of how long ago the employee had been convicted or whether the conviction was for a misdemeanor or felony - EEOC.According to the complaint, after the criminal background checks were performed, BMW learned that approximately 100 incumbent logistics workers at the facility, including employees who had worked at there for several years, did not pass the screen - EEOC.  Full Article

Ten automakers are sued over keyless ignitions defendants include Bayerische Motoren Werke AG - Reuters
Tuesday, 25 Aug 2015 08:00pm EDT 

Bayerische Motoren Werke AG:Ten of the biggest automakers were sued by consumers who claim they concealed the risks of carbon monoxide poisoning from millions of vehicles equipped with keyless ignitions - Reuters.The lawsuit attributed at least 13 deaths to the problem, which it said arises when people mistakenly leave their vehicles running after removing their key fobs, sometimes in garages, believing that doing so turns off the engines - Reuters.The defendants include BMW, Fiat Chrysler , Ford, General Motors, Honda, Hyundai and its Kia affiliate, Mercedes Benz, Nissan , Toyota and Volkswagen and its Bentley affiliate - Reuters.The Lawsuit was filed in the federal court in Los Angeles - Reuters.  Full Article

Bayerische Motoren Werke reconfirms FY 2015 outlook
Monday, 3 Aug 2015 08:00pm EDT 

Bayerische Motoren Werke AG:Reaffirms targets for FY 2015.In FY 2015 intends to achieve solid growth and new record figures for sales volume and profit before tax.  Full Article

Bayerische Motoren Werke AG confirms FY 2015 outlook
Tuesday, 5 May 2015 08:00pm EDT 

Bayerische Motoren Werke AG:Reaffirms targets for full FY 2015.Aims to achieve solid growth in 2015, and hence new record figures for sales volume and profit before tax.  Full Article

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


BMW launches Indonesian-made sedans in luxury push

JAKARTA German automaker BMW on Wednesday launched its 7 series sedans in Indonesia that will be assembled in the country as it seeks to tap into the long-term demand for luxury vehicles in Southeast Asia's biggest economy.