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

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Latest Key Developments (Source: Significant Developments)

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

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

BMW, Ford defend German car industry, reject manipulation

BERLIN - Top officials from BMW and Ford defended the German motor industry's reputation on Thursday, saying their companies had systems to prevent the kind of manipulation that has plunged rival Volkswagen into crisis.

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