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Keyword: bmw

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  • SEC penalized BMW $18 million for disclosing inaccurate and misleading retail sales information

    09/30/2020 5:14:15 PM PDT · by buckalfa · 3 replies
    Upstate Business Journal ^ | September 28, 2020 | Alex Cooper
    The Securities and Exchange Commission announced on Thursday, Sept. 24, that it had settled charges against BMW for disclosing inaccurate and misleading information about the automaker’s retail sales volume here in the United States as it raised around $18 billion from investors. BMW — the German-based automaker BMW AG and two U.S. subsidiaries including BMW of North America and BMW US Capital — inflated its reported sales, which then helped the company decrease the gap between its actual sales and internal targets, according to a release by the SEC. The inflated sales also kept BMW in a “leading sales position”...
  • BMW’s Spartanburg plant to restart production on May 4

    04/29/2020 3:46:42 PM PDT · by buckalfa · 7 replies
    WSPA News7 ^ | April 29, 2020 | WSPA Staff
    SPARTANBURG CO., SC (WSPA) – Production at BMW’s plant in Spartanburg County will resume May 4, the company said Wednesday. BMW said during their production shutdown, which began March 29, the company implemented deep cleaning and safety measures which included disinfecting all equipment, sanitizing workstations, and remodeling the production layouts to enhance social distancing. “BMW has taken many precautionary measures to provide a safe workplace for our associates,” said Knudt Flor, president and CEO of BMW Manufacturing. “We return to Plant Spartanburg focused on taking care of each other and taking care of our customers.” The plant will also implement...
  • UK Spends $2 Million on Electric Cop Cars, Discovers They're Useless for Pursuit

    12/28/2019 11:37:10 AM PST · by rktman · 63 replies
    westernjournal.com ^ | 12/26/2019 | Jared Harris
    The United Kingdom’s experiment with electric police vehicles has seemingly ended in failure after the cars have been revealed to be practically useless for crucial law enforcement activities. As the U.K. Daily Mail reported, hundreds of the vehicles have been purchased across the country by different police forces. The total cost of the green vehicles is almost £1.5 million — nearly $2 million in American currency. While electric cars have their merits, the technology simply isn’t there for the vehicles to serve as regular parts of police fleets. Despite this, U.K. police forces have fielded over 400 of the green...
  • California to stop buying GM, Toyota and Fiat Chrysler vehicles over emissions fight

    11/18/2019 12:41:10 PM PST · by SunkenCiv · 110 replies
    Reuters via Yahoo ^ | November 18, 2019 | David Shepardson (editing by Tom Brown)
    California said on Monday it will halt all purchases of new vehicles for state government fleets from GM, Toyota and Fiat Chrysler and other automakers backing President Donald Trump in a battle to strip the state of authority to regulate tailpipe emissions. Between 2016 and 2018, California purchased $58.6 million in vehicles from General Motors Corp, $55.8 million from Fiat Chrysler Automobiles $10.6 million from Toyota Motor Corp and $9 million from Nissan Motor Co. Last month, GM, Toyota, Fiat Chrysler and members of the Global Automakers trade association backed the Trump administration's effort to bar California from setting tailpipe...
  • California rules set lower emissions for state vehicle fleet

    11/15/2019 8:09:35 PM PST · by Olog-hai · 18 replies
    Associated Press ^ | November 16, 2019 | Don Thompson
    California announced new rules Friday for its state vehicle fleet to reduce pollution and reward automakers that are siding with it against the Trump administration. Officials immediately barred state agencies from buying any sedans that only run on internal combustion engines, with exemptions for certain public safety vehicles. The state has about 40,000 vehicles, about 8,400 of which are sedans. Starting next year, it will require state agencies to buy only from companies that recognize California’s authority to set greenhouse gas and zero emission vehicle standards. Only BMW, Ford, Volkswagen and Honda have decided to back California and endorse stricter...
  • BMW Keeps Its Title as America's Top Auto Exporter by Value

    03/09/2019 5:35:46 PM PST · by nascarnation · 55 replies
    Jalopnik ^ | 3/9/2019 | Patrick George
    BMW announced this week that, according to newly released data from the U.S. Department of Commerce, it again leads America in automotive exports by sales value. This is thanks to the plant in Spartanburg, South Carolina, BMW’s biggest global plant and the producer of most of its X crossovers and SUVs. BMW said the plant—which makes all the X3, X4, X5, X6, X7 models and their M and hybrid versions sold worldwide—exported 234,689 cars abroad in 2018, a value of more than $8.4 billion. BMW said 356,749 SUVs were made there in total.
  • Volkswagen, BMW increased US car sales in 2018

    01/04/2019 1:47:31 PM PST · by Olog-hai · 12 replies
    Deutsche Welle ^ | 01.03.2019 | dv/sms (dpa, Reuters)
    Volkswagen and BMW increased their 2018 car sales in the United States while major American competitors General Motors (GM) and Ford both had declines in new vehicle sales, according to sales reports published on Thursday. Volkswagen sold over 350,000 cars in the US in 2018, a 4.2 percent increase over 2017. It was the company’s second year of sales increases after sales plummeted following the dieselgate scandal, where a US investigation uncovered massive fraud in its diesel emissions reporting. Volkswagen’s boost in sales figures were helped by popular SUVs Tiguan and Atlas. BMW saw an increase of 1.7 percent to...
  • Idle hands in China workshops: foreign carmakers struggle with zombie plants

    12/26/2018 9:08:53 PM PST · by SunkenCiv · 22 replies
    WSJ via EFE ^ | Christmas Day, December 25, 2018 | unattributed
    A downturn in China's car market has wrong-footed some of the world's biggest automakers, saddling them with factories they no longer need and that are costly to retool, according to a report from the Dow Jones Newswires supplied to EFE on Tuesday. Ford Motor, Peugeot and Hyundai Motor especially mistimed recent expansions, opening new plants just as the seemingly unstoppable growth of China's auto market went into reverse.
  • Trump Says China to Cut Tariffs on US-Made Cars in Potential Lift for Tesla, BMW

    12/03/2018 4:40:01 PM PST · by E. Pluribus Unum · 4 replies
    The Epoch Times ^ | December 3, 2018 Updated: December 3, 2018 | al Reuters
    WASHINGTON/SHANGHAI—U.S. President Donald Trump said on Dec. 3, that China had agreed to cut import tariffs on American-made cars, a potential boon for automakers including Tesla Inc and BMW who manufacture in the United States for export to China. Trump, fresh from agreeing on a 90-day cease-fire in his trade war with China at the meeting of the G20, said on Twitter that “China has agreed to reduce and remove tariffs on cars coming into China from the U.S. Currently the tariff is 40%.” The move, if realized, would bolster U.S. car manufacturers who were hit hard when China ramped...
  • Men kissing BMW commercial

    10/28/2018 6:24:00 PM PDT · by fhayek · 72 replies
    10/28/18 | vanity
    Watching the World Series, as is my wont. BMW has a commercial pushing senses beyond the normal five...In a rapid-fire montage of random couples kissing, you can catch a split-second shot of two men kissing. I rewound and replayed it several times. Definite homosexuality. Sheesh, not during baseball....
  • Car Dealership Employees Put Engine Coolant In Co-Worker's Water

    09/11/2018 11:53:08 AM PDT · by Red Badger · 82 replies
    wercfm.iheart.com ^ | 09/11/2018 | Staff
    Two people were arrested after authorities said they tried to poison their co-worker at a small BMW dealership in Toronto. Szilard Czippan was charged with attempted murder and administering a noxious substance while Rahim Jaffer is only facing the latter charge. The two men were captured on surveillance cameras taking the water bottle of a manager at the dealership and filling it with engine coolant. When the manager took a sip, he immediately realized that his water had been replaced and he drove to a pharmacy to get a charcoal pill. He then went to the hospital where he was...
  • What the Tariff Battle Means for Auto Plants in South Carolina

    07/10/2018 6:33:11 AM PDT · by reaganaut1 · 35 replies
    Wall Street Journal ^ | July 10, 2018 | William Boston
    BERLIN—President Donald Trump’s trade battle with China is threatening the U.S.’s growing role as an auto exporter. In recent years, BMW AG BMW, Daimler AG DMLRY and China’s Zhejiang Geely Holding’s Volvo Cars have invested billions to expand U.S. factory production with the goal of exporting a significant number of vehicles to China and other markets world-wide. But the tit-for-tat tariffs on U.S.-China trade could prompt the manufacturers to rethink that strategy. On Friday, China raised to 40% its tariff on auto imports from the U.S. as part of a broader retaliation against the Trump administration’s move to impose duties...
  • Trump wants to push German carmakers out of U.S. - German magazine....

    05/31/2018 10:42:54 AM PDT · by caww · 50 replies
    German magazine Wirtschaftswoche said U.S. President Donald Trump aimed to push German carmakers out of the United States, and that he told French President Emmanuel Macron he wanted to stop Mercedes-Benz from cruising through New York. German carmakers control 90 percent of the U.S. premium auto market, with BMW owning the Rolls-Royce and BMW brands while Daimler has Mercedes-Benz and Volkswagen controls Bentley, Bugatti, Porsche and Audi. The Trump administration has opened a trade investigation into whether vehicle imports have damaged the U.S. auto industry. Citing several unnamed European and U.S. diplomats, the magazine said on Thursday that he told...
  • Ford is basically giving up on US car business, and GM is not far behind

    04/26/2018 2:35:14 PM PDT · by Red Badger · 129 replies
    CNBC ^ | 04/26/2018 | Robert Ferris
    Ford's plan to reduce its passenger car lineup to just two models, and GM's difficulty selling passenger cars in the U.S. show how much tastes are drifting toward trucks, SUVs and crossovers. Ford will only update the Focus Active crossover and Mustang for the U.S. market, while GM called out a challenging passenger car environment. ====================================================================================================== So is it really the end of the American car on its home turf? From the way Detroit's major executives are talking, it would seem so. Ford said Wednesday it will only offer two new cars in North America over the coming years —...
  • 'Electric-ish' BMW X5 is a fine ride that could save you some premium fuel

    02/23/2018 10:29:12 AM PST · by gymbeau · 16 replies
    TechnoFile ^ | Feb. 23, 2018 | Jim Bray
    'Electric-ish' BMW X5 is a fine ride that could save you some premium fuel By Jim Bray February 23, 2018 BMW's first SUV - though they refer to it as an SAV - has been given the plug-in hybrid treatment and the result is a large utility (er, Activity, in BMW-speak) vehicle that might even save you some gas money. The X5 xDrive40e is the first plug-in hybrid production model from BMW's core lineup. Starting at an estimated MSRP of $74,950 CAD, before options, it's a darn fine vehicle and equipped well even at that trim level (it's a premium...
  • LAPD spent millions on 'green' electric BMWs used for joyrides to nail salons, day lunches: report

    01/18/2018 1:43:31 PM PST · by Zakeet · 18 replies
    Fox News ^ | January 18, 2018 | Gregg Re
    Two years after the LAPD touted a multimillion-dollar purchase of a fleet of eco-friendly electric BMWS, the vehicles are being used for personal trips to grab lunch and -- in one instance -- a visit to a nail salon, according to a local report. [Snip] A CBS investigative team, which reviewed mileage logs and followed the BMWs when they left LAPD garages, found that officers appeared to have a loose interpretation of those guidelines. One BMW went straight to a Yoshinoya drive-thru and returned to a police station, CBS reported. Another headed for Loyola Marymount University and picked up someone...
  • Trump’s tax gift to corporate Germany

    12/27/2017 7:52:10 AM PST · by GonzoII · 12 replies
    Handelsblatt ^ | Dec 27, 2017 | Ulf Somme
    President Donald Trump’s new tax law spells savings for BMW and other big German companies that produce and sell their products in the United States. Not so for smaller firms. And so there’s a certain irony to the fact that the tax reform bill, signed into law last week, has also given a gift to some of Germany’s larger companies, including its carmakers. The simple reason is that some of these companies already produce a large amount of their goods in the United States....
  • US tax reform promises big income boost for German carmakers

    12/23/2017 8:39:42 PM PST · by Berlin_Freeper · 18 replies
    thelocal.de ^ | December 23, 2017 | AFP
    German carmakers Daimler and BMW said Friday a new sweeping US tax reform giving major breaks to corporations will add hundreds of millions of euros to their 2017 earnings. The controversial tax overhaul signed into law Friday by billionaire President Donald Trump will slash the US corporate tax rate from 35 percent to 21 percent. As a result, Daimler projected its net income to grow by around 1.7 billion euros ($2 billion) this year. "The reduction of the federal corporate income tax rate... results in an income tax benefit increasing the net income of the group for the year 2017...
  • EU anti-trust investigators raid BMW headquarters in Munich

    10/20/2017 7:58:17 AM PDT · by Olog-hai · 4 replies
    TheLocal.de ^ | 20 October 2017 16:40 CEST+02:00 | AFP
    EU anti-trust regulators have raided the offices of automaker BMW in Munich, the company said, in a fresh blow to the German car industry already hit by the Dieselgate scandal. The European Commission, which refused to confirm the company targeted, said it “can confirm that as of October 16, 2017, its officials carried out an unannounced inspection at the premises of a car manufacturer in Germany.” The inspection was related to “concerns that several German car manufacturers may have violated EU antitrust rules that prohibit cartels and restrictive business practices,” a statement said. The commission added that Daimler was cooperating...
  • Made in America* -- How the U.S. auto industry was built with foreign labor

    08/05/2017 8:27:32 PM PDT · by buckalfa · 48 replies
    CBSNews ^ | July 31, 2017 | Emily Rand
    When Gerald Greiner walked into his first job as a safety manager for Eisenmann Corporation, a subcontractor building the paint shop at the Mercedes plant in Vance Alabama back in 2013, he was surprised to see Eastern Europeans pouring concrete, erecting steel and fitting pipe at the company's expansion project. "There was Polish and Slovenian and Croatian people there it was hard for me to believe because I just didn't understand why they would be here," Greiner told "CBSN On Assignment" correspondent Vladimir Duthiers during an interview at a neighborhood park near Greiner's home in San Jose, California. "The cars...