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News Breaks
June 3, 2014
06:27 EDTBAMXYBMW to reduce annual German labor expenses by EUR100M, Reuters says
BMW is planning to reduce annual German labor expenses by EUR100M from 2015 onwards, according to Reuters, citing comments from workers' representatives in a report from German local newspaper Muenchner Merkur. The report said the savings were due to the firm contemplating which Bavaria plants would be economically attractive enough to construct new BMW models in the coming years. Reference Link
News For BAMXY From The Last 14 Days
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October 5, 2015
09:55 EDTBAMXYU.K. researchers says Ford, BMW diesels break emissions limit, Daily Mail says
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October 4, 2015
19:47 EDTBAMXYAutomakers ask for easier European emissions tests, NY Times says
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October 1, 2015
13:31 EDTBAMXYBMW Group reports September U.S. sales up 4.1% to 31,022 vehicles
September 30, 2015
19:27 EDTBAMXYEuropean carmakers use stripped-down vehicles for certification, WSJ says
European car certification tests rely on "golden vehicles," stripped down models with oftentimes sparse resemblance to their real-world counterparts, reports the Wall Street Journal. One anonymous auto executive disclosed that automakers in the region never use random vehicles drawn from assembly lines, remarking, "It's like preparing for a major race. We tune them and pamper them like stud horses." Companies in the space include Volkswagen (VLKAY), BMW (BAMXY), Daimler (DDAIF), Peugeot (PUGOY), and Fiat Chrysler (FCAU). Reference Link
09:09 EDTBAMXYChina enacts special license lottery for new energy vehicles, Xinhua reports
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September 24, 2015
14:57 EDTBAMXYAutobild says has no indication of BMW exhaust manipulation
German-language magazine Autobild clarified its earlier report on BMW and the company's X3 xDrive 20d sport utility vehicle, stating that it has "no indication of exhaust manipulation" by the company, according to both Bloomberg and CNBC.
09:22 EDTBAMXYFord exec says company does not use emissions 'defeat devices,' CNBC reports
Ford President of the Americas Joe Hinrichs said, while appearing on CNBC's Squawk Box, that Ford does not use "defeat devices and we clearly understand what it means from an integrity standpoint to make sure our vehicles perform on the road like they do in the lab." Hinrichs' comments come after Volkswagen (VLKAY) was accused by the EPA of installing a device in its diesel vehicles to mask their true emissions and after a German report said that a discrepancy with on-road emissions performance was found with an SUV made by BMW (BAMXY). Reference Link
07:41 EDTBAMXYBMW X3 said to exceed EU emission limit, Bloomberg reports
According to German-language magazine Autobild, BMW's (BAMXY) X3 xDrive 20d sport utility vehicle was found to emit as much as 11 times the European limit for emissions in a road test, reported Bloomberg. "There is no function to recognize emissions testing cycles at BMW. All emissions systems remain active outside the testing cycles," BMW said in a statement in response to the report. Shares of BMW trading in Germany fell over 9% following the report, while peers Daimler (DDAIF) and Volkswagen (VLKAY) declined as well, as investors fear that VW's emissions scandal in the U.S. may spread to Europe. Reference Link

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