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MarketScreener Homepage  >  Equities  >  Xetra  >  BMW Vz    BMW3   DE0005190037

BMW VZ

(BMW3)
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Bayerische Motoren Werke Preference : BMW to recall more than 139,000 of its 3-series cars in China

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09/17/2018 | 01:04pm EDT

INTERNATIONAL -German automaker BMW will recall more than 139,000 of its 3-series cars in China from Nov. 9, 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, the State Administration for Market Regulation said in a statement.

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

This comes afterChinese property developers were offering free luxury cars and hefty discounts to lure buyers as lending curbs and funding constraints squeeze their finances.

China Merchants Shekou Industrial Zone Holdings. was giving away a BMW Series 3 or X1 to buyers of a three-bedroom unit or townhouse at its Shanghai development. The car, or cash equivalent, equates to about a 10 percent discount on the 3.1 million yuan ($450,000) price of the 89-square-meter apartment.

- REUTERS

(c) Pretoria News 1999 - 2018 Independent Newspapers (Pty) Limited. All rights strictly reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

Stocks mentioned in the article
ChangeLast1st jan.
BMW VZ -0.33% 48.78 Delayed Quote.-21.45%
CHINA MERCHANTS SHEKOU IND ZN HLDG COLTD End-of-day quote.
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Sales 2019 98 863 M
EBIT 2019 7 393 M
Net income 2019 5 198 M
Finance 2019 15 553 M
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EV / Sales2020 0,23x
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