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MarketScreener Homepage  >  Equities  >  Xetra  >  Bayerische Motoren Werke AG (Preference)    BMW3   DE0005190037

BAYERISCHE MOTOREN WERKE AG (PREFERENCE)

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Bayerische Motoren Werke Preference : BMW to recall 140,000 3-series cars in China

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09/17/2018 | 01:12am EDT

GERMAN motor giant BMW will recall more than 139,000 of its 3-series cars in China from 9 November, because of a defect in the air-conditioning system, the market regulator said.

The recall covers 89,309 vehicles produced in China between May 2005 and July 2011, and 50,143 imported vehicles manufactured between January 2005 and July 2011, China'sState Administration for Market Regulation said in a statement yesterday.

"A part in the air-conditioning blower may wear after use and lead to rising resistance, which may cause an increase in temperature and raise the chance of a fire," the authority said.

BMW Brilliance Automotive, a joint venture based in northeast China, and BMW China Automotive Trading will check the vehicles and replace the defective parts free of charge.

Meanwhile, China Merchants Shekou Industrial Zone Holdings is giving away a BMW Series 3 or X1 to buyers of a three-bedroom unit or townhouse at its Shanghai development.

Reuters

(c) 2018 City A.M., source Newspaper

Stocks mentioned in the article
ChangeLast1st jan.
BAYERISCHE MOTOREN WERKE AG (PREFERENCE) 0.79% 48.32 Delayed Quote.-22.19%
CHINA MERCHANTS SHEKOU IND ZN HLDG COLTD End-of-day quote.
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Financials (EUR)
Sales 2019 98 863 M
EBIT 2019 7 393 M
Net income 2019 5 198 M
Finance 2019 15 553 M
Yield 2019 -
P/E ratio 2019 -
P/E ratio 2020 -
EV / Sales2019 0,23x
EV / Sales2020 0,22x
Capitalization 38 615 M
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Harald Krüger Chairman-Management Board
Norbert Reithofer Chairman-Supervisory Board
Nicolas Peter Chief Financial Officer
Susanne Klatten Independent Member-Supervisory Board
Manfred Schoch Deputy Chairman-Supervisory Board