Tag Archives: BMW

Manufacturing cost, emissions: BMW 2nd quarter earnings drop 48%

08 August, 2019 11:31 am 11:31 am

FRANKFURT (Reuters) – Britain’s car giant BMW stuck to its outlook even as second quarter earnings fell 48%, hit by the rising cost of manufacturing, currency headwinds and emissions limits. BMW said its earnings before interest and taxes (EBIT) fell to 2.79 billion euros (£2.54 billion) in the second quarter. The Munich-based company said the operating … Read More

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BMW sells cars globally despite tariffs: board member

06 June, 2019 8:38 am 8:38 am

SAN LUIS POTOSI, Mexico (Reuters) – BMW sees no reason to change its plans for Mexico in the wake of US threats to slap duties on Mexican imports, a board member of the German carmaker said adding the company sells cars globally despite tariffs placed by most countries on imported vehicles. The automaker also foresees … Read More

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BMW, Mercedes-Benz lower prices in China after VAT drop

03 March, 2019 10:32 am 10:32 am

SHANGHAI (Reuters) – BMW AG and Mercedes-Benz said on Saturday they will lower their prices in China, after the government announced it will reduce the country’s value-added tax (VAT) starting on April 1. The German automobile companies each published posts on Chinese social media announcing immediate price cuts for several models. The discounts come as … Read More

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Honda says any Brexit delay must be long enough to give stability

03 March, 2019 9:03 am 9:03 am

LONDON (Reuters) – Japanese carmaker Honda said any delay to Brexit must be long enough to give businesses stability whilst BMW is still preparing for a “worst-case scenario” no-deal Brexit after lawmakers backed postponing Britain’s exit from the EU. The country’s car sector, which employs more than 850,000 people, has quickly gone from a manufacturing … Read More

Daimler, BMW autonomous alliance seeks to define self-driving rules

BMW, Daimler autonomous alliance seeks to define self-driving rules

03 March, 2019 8:55 pm 8:55 pm

GENEVA (Reuters) – Daimler and BMW are teaming up to develop autonomous driving technology to cut costs and set an industry standard that can help to shape future regulation for self-driving cars, senior executives said on Wednesday. “It is a chicken and egg situation. Somebody has to standardise the technology and regulation will follow,” Klaus … Read More

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Daimler, BMW to invest 1 billion euros in venture to rival Uber

02 February, 2019 10:35 pm 10:35 pm

BERLIN (Reuters) – German carmakers Daimler and BMW unveiled a joint ride-hailing, parking and electric car charging business to compete with mobility services provided by Uber and other tech firms. The luxury car firms said they would invest more than 1 billion euros ($1.13 billion) to expand the joint venture, shifting beyond manufacturing and car … Read More

Germany’s Hanover airport reopens after car intruder overpowered

12 December, 2018 8:45 am 8:45 am

BERLIN (Reuters) – Germany’s Hanover airport temporarily suspended flights after a man drove onto the apron area before police stopped his car and overpowered and detained him, they said. “Police checks of the vehicle have been completed, no dangerous objects were found. Hanover airport resumed operations at about 20:05 (1905 GMT),” Hanover police tweeted. They … Read More

BMW names Vukotich as new head of autonomous driving development

12 December, 2018 12:01 pm 12:01 pm

FRANKFURT (Reuters) – Germany luxury carmaker BMW said Alejandro Vukotich will be the new head of its driver assistance and autonomous driving development department from January 2019. Vukotich will replace Elmar Frickenstein, who has been in charge of the department since it was created in May 2016 and who will retire after a three-month handover … Read More

European shares fall on doubts over US-China trade truce

12 December, 2018 11:04 pm 11:04 pm

LONDON (Reuters) – European shares fell on Tuesday led lower by auto stocks as investors started to question whether the truce agreed by the United States and China on their trade dispute would lead to a long-term deal. After enjoying a rally for its first day of trading in December, Germany’s DAX – the most … Read More

US officials, German car firms prep for White House meeting

11 November, 2018 9:48 am 9:48 am

BERLIN (Reuters) – US officials and German carmakers are preparing for a meeting of the chief executives of Volkswagen , BMW and Daimler with the Trump administration in the coming weeks, sources close to the matter said. One of the sources said the meeting could take place as soon as next week. A second source … Read More

BMW to buy control of China venture in ‘new era’ for foreign ca...

10 October, 2018 10:08 am 10:08 am

SHENYANG (Reuters) – Germany’s BMW will pay 3.6 billion euros (£3.2 billion) to take control of its main joint venture in China, the first such move by a global carmaker as Beijing starts to relax ownership rules for the world’s biggest auto market. The luxury carmaker said it would increase its stake in its venture … Read More

BMW says rivals are interested in joining forces on self-driving cars

10 October, 2018 10:05 am 10:05 am

FRANKFURT (Reuters) – BMW (BMWG.DE) rivals and ride-hailing companies are considering joining its consortium for developing self-driving cars as auto industry profits come under increasing pressure, board member Klaus Froehlich said on Tuesday. Carmakers and ride-hailing companies have sought to build self-driving cars as a way to enter the business of smartphone-hailed robotaxis. However, they … Read More

BMW to recall more than 139,000 of its 3-series cars in China from November

09 September, 2018 2:21 pm 2:21 pm

BEIJING (Reuters) – 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 … Read More

BMW drives to cut battery costs, share costs on autonomous vehicles

09 September, 2018 9:17 am 9:17 am

NEW YORK (Reuters) – German luxury vehicle maker BMW AG plans more deals with mining companies to secure electric vehicle battery materials, and is open to forming alliances to share the costs of developing autonomous-vehicle systems, the automaker’s research and development chief told Reuters. BMW management board member Klaus Froehlich said automakers and large suppliers … Read More

Electric Mercedes opens German assault on Tesla

09 September, 2018 9:41 am 9:41 am

STOCKHOLM (Reuters) – Mercedes-Benz is set to unveil its much-anticipated electric SUV on Tuesday, marking the start of a German onslaught against Tesla’s dominance of the fast-growing market for premium battery cars. Daimler-owned  Mercedes, BMW  and Volkswagen’s Audi and Porsche divisions are all gunning for the $52 billion Californian upstart, with early publicity efforts emulating … Read More