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Stock Market & Financial Investment News

News Breaks
July 16, 2014
09:52 EDTBAMXYBMW issues recall for 1.6M vehicles globally, Reuters says
BMW issued a recall of close to 1.6M vehicles globally to replace passenger-side front airbags made by Takata since the inflators could break apart during deployment and potentially hurt passengers, according to Reuters, citing comments from BMW spokesman Dave Buchko. The recall pertains to 3-Series cars made between May 1999 and August 2006. Reference Link
News For BAMXY From The Last 14 Days
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September 1, 2015
12:39 EDTBAMXYBMW reports August U.S. sales up 2% to 32,864 units
In total, the BMW Group in the U.S., BMW and MINI combined, reported August sales of 32,864 vehicles, an increase of 2% from the 32,219 vehicles sold in the same month a year ago. Year-to-date, BMW Group sales are 263,908 vehicles, a 7.3% increase from the same period last year. Sales of BMW brand vehicles increased 2% in August for a total of 27,755 - a new August record - compared to 27,213 vehicles sold in August, 2014. Year-to-date, BMW brand sales are 223,348 vehicles, a 5.9% increase from the same period last year. "Even without Labor Day weekend as part of the month, the solid August results for both BMW and MINI continue to prove the strength of consumer demand and underscore the momentum BMW Group has shown throughout this year," said Ludwig Willisch, President and CEO, BMW of North America. "With the launch of the all-new BMW 7 Series getting underway and the new BMW X1 also on the horizon, I'm expecting a strong finish in the remaining four months of 2015." For August, MINI USA reports 5,109 automobiles sold, an increase of 2.1% from the 5,006 sold in the same month a year ago. Year-to-date, MINI USA sales are 40,560 vehicles, a 16% increase from the same period last year. In August, BMW Certified Pre-Owned sold 10,027 vehicles, down 7.1% from August 2014, with a year-to-date gain of 16.5% to 78,068 vehicles sold over the same period in 2014. Total BMW Pre-Owned sales continue to be challenged by low availability with 15,763 vehicles sold in August 2015, an 18.4% decrease from August 2014. The Total BMW Pre-Owned cars sold for the first eight months were 124,151, a 7.4% decrease from the same period in 2014. In August, sales of MINI NEXT were 1,134 vehicles, up 3.5 percent over August 2014, with a year-to-date gain of 25.6% to 7,925 cars over the same period in 2014. Total MINI Pre-Owned sales were 2,696 cars, an increase of 5.3% from August 2014. Total MINI Pre-Owned sales for the first eight months were 18,205, a 7% increase from the same period in 2014.
August 31, 2015
17:41 EDTBAMXYTencent-backed group to develop Tesla rival, Reuters says
A group of Chinese internet firms and investors including Tencent (TCEHY) and JD.com (JD) founder Richard Liu are backing an effort to create NextEV, an electric vehicle project meant to rival Tesla (TSLA), reports Reuters. The group has hired ex-Ford (F) executive Martin Leach as well as former Volkswagen (VLKAY), BMW (BAMXY), and Tesla employees "to build a global automaker," a spokesperson told the publication. Reference Link
August 28, 2015
06:17 EDTBAMXYGerman car makers take hit in China, WSJ reports
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August 26, 2015
16:26 EDTBAMXYMajor automakers sued over allegedly 'deadly' keyless technology, Reuters says
A number of automakers have been named in a lawsuit alleging that keyless ignition technology can lead to "deadly" results due to carbon monoxide poisoning from cars left running under the belief that engines will automatically switch off, reports Reuters. Defendants include General Motors (GM), Ford (F), Fiat Chrysler (FCAU), Honda (HMC), Hyundai (HYMLF), Nissan (NSANY), Toyota (TM), Volkswagen (VLKAY), BMW (BAMXY), and Daimler's (DDAIF) Mercedes Benz, said Reuters. According to the plaintiffs, the carmakers had "actual knowledge" of the so-called risks and could have prevented 13 deaths and numerous injuries. Reference Link
August 25, 2015
06:44 EDTBAMXYArcelorMittal finds success in Northern France plant, WSJ reports
ArcelorMittal (MT) has found improbable success investing heavily in Europe, particularly in rust belt Northern France, the Wall Street Journal reports. The company's most profitable business unit is located in Northern France, and the European Union is still the globe's most prestigious automotive market, where companies such as Audi (AUDVF) and BMW (BAMXY) make nearly a trillion dollars worth of cars a year, the report says, meaning higher demand for locally produced steel. Reference Link

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