BMW announced that its first-quarter operating profit rose by a forecast-beating 20.6%. The profits of the German car maker was supported by strong demand for large offroaders in Europe and the United States.
Earnings before interest and tax (EBIT) came in at 2.52 billion euros ($2.83 billion), above the 2.191 billion euros forecast in a Reuters poll.
The Munich-based company said on Wednesday that its automotive EBIT margin was 9.5% in the quarter, remaining at the same level to the year-earlier quarter and at the upper end of its target range of between 8% and 10%.
On the other hand, the quarterly return on sales from ongoing business at rival Mercedes-Benz Cars jumped to 9.2% from 7% a year ago. Audi's operating margin slipped to 9.7 % from 10.1 %.
New York: BMW has agreed to demands from the government to replace driver's-side air bags across the entire US.
The National Highway Traffic Safety Administration has been pushing companies to recall older cars with air bag inflators made by Takata Corp. They can explode with too much force and spew shrapnel at drivers and passengers. At least five deaths have been blamed on Takata inflators.
The decision affects 140,000 BMW 3 Series cars made between January 2004 and August 2006. It says no problems with BMW vehicles have been reported.
Earlier this year the company recalled 574,000 cars in the US.
Washington, Dec 17 : Luxury automobile maker BMW is reportedly working on a technology that will allow drivers to park their cars using a smartwatch.
According to The Verge, BMW will be showing off its recent advances in autonomous vehicle research, including the smartwatch-operable Remote Valet Parking Assistant at CES 2015.
The i3 research vehicle with four "advanced laser scanners," can spot and avoid any sudden obstructions within an environment.
On detecting an obstruction, the i3's on-board assistance system automatically triggers brakes. (ANI)
Mumbai - To meet the rising demand for its iconic brand Mini, German luxury carmaker BMW Group Wednesday launched its British premium luxury small car in the 3-door and 5-door variants with petrol and diesel options.
For the five-door Mini Cooper D this is a debut in the country as the company has already been selling the first generation 3-door model since 2012 in the country. BMW Group India president Philipp von Sahr said the company has already sold close to 1,000 units of Mini in the country.
The new Mini will be rivalling the likes of Mercedes A-Class, BMW 1-Series, Volvo V40 Cross Country as well as the upcoming Abarth 500. It comes in as many as 11 colours.
Noida (Uttar Pradesh), Aug 28 : A paragon of sporty dynamics, premium ambience and robust agility, the new BMW X3 was launched today at Deutsche Motoren, the BMW dealership in Noida.
The new BMW X3 is locally produced at the BMW Plant Chennai in a diesel variant and is now available at BMW dealerships across India.
Chennai, May 5 : Two- and three-wheeler maker TVS Motor Company will start rolling out bikes for German auto major BMW during the second half of next year, a top company official said Monday.
The company will also launch new products to fill up the vacuum in its product line-up.
Speaking about the tie-up with the German group, Venu Srinivasan, chairman and managing director of TVS Motor, told newsmen: "It will be ready in the second half of next calendar year. It will be brand new platform for the BMW."
Munich, April 12 - German car producer BMW Group has recalled almost half a million cars with 6-cylinder engines, since realising that a screw in the engine compartment could possibly break and damage the engine in rare cases, a company official said Friday.
Around 489,000 cars with 6-cylinder engines that were manufactured between September 2009 and November 2011 are involved in the recall, Xinhua reported.
New Delhi, April 3 : Luxury automobile manufacturer BMW Thursday launched its premium sports car M6 Gran Coupé priced at Rs. 1.75 crore (ex-showroom Delhi).
"With its dynamic expression and luxurious appearance, the all-new BMW M6 Gran Coupé is not just the most attractive coupé in its class, it also provides the best everyday usability," Philipp von Sahr, president, BMW Group India told reporters.
The four-door sports coupé is available at the company's dealerships and has been imported as a CBU (completely built-up) unit.
German luxury carmaker, BMW has said that it is planning to invest $1 billion in its plant in South Carolina in order to increase capacity and produce two of its new X-series vehicles.
The company is celebrating its 20th anniversary of building cars in the United States with the new investment. The investment will expand its production capacity and allow the company to strengthen its position in the US car market.
The automaker announced that it will establish a new production line at the plant to produce the X7, a larger SUV with three rows of seats similar to a Cadillac Escalade. BMW will also produce the X4, which a sportier version of the X3 coupe.
Greater Noida (Uttar Pradesh), Feb 6 : The all-new BMW 3 Series Gran Turismo was launched in India today at the Auto Expo 2014.
Locally produced at the BMW Plant Chennai, the all-new BMW 3 Series Gran Turismo will be available at BMW dealerships across the country from March 2014.
Greater Noida (Uttar Pradesh), Feb 6 : BMW India presented the new generation of individual mobility by unveiling the BMW i8, the all-new BMW X5 and the all-new BMW M6 Gran Coupe at the 12th Auto Expo 2014. The all-new BMW 3 Series Gran Turismo was also launched in India.
Pune, Nov 14 : German luxury car maker BMW Thursday launched the facelifted Z4 roadster car at Rs. 68.9 lakh.
The two-seater sports car with a retractable hard top roof has more contemporary features as compared to the outgoing model.
BMW's signature kidney grille has its slants coloured in silver instead of the traditional black or chrome giving it a sporty look, and the prominent side creases, wheel arches and angular headlamps further add to the car's striking appearance.
New Delhi, Oct 10 : German luxury automobile manufacturer BMW Thursday launched the new model of its sedan -- 5 Series priced between Rs. 46.90 lakh and Rs. 57.90 lakh.
"The BMW 5 Series is the 'world's most sought after executive sedan' and has played a major role in the company's success globally," said Philipp von Sahr, president, BMW Group India.
"BMW 5 Series is one of the core models in our product portfolio in India and accounts for over one third of our local production in India."
Beijing, Oct 1 - China's quality watchdog Monday announced recall of 181,492 defective cars produced by BMW, Hyundai Motor Group and Dongfeng Yueda Kia, Xinhua reported.
BMW-Brilliance Automotive Ltd., a joint venture between Brilliance China Automotive and German luxury carmaker BMW, is to recall 75,832 BMW 5 series cars due to problematic socket adapters in their tail lights, the General Administration of Quality Supervision, Inspection and Quarantine said in a statement.
Washington, Sep 21 - German automaker BMW AG announced Friday that it was recalling 134,100 5-Series cars in the US to fix electrical problems which could cause failure of taillights and brake.
The recall, expected to begin in October, covers some 528i, 535i, 550i and M5 cars from model years 2008 through 2010 due to problems with the tail light electrical contact points, Xinhua reported.
Mumbai, Sep 3 : German luxury automobile manufacturer BMW Tuesday launched its entry-level BMW 1-Series hatchback with petrol and diesel variants priced between Rs. 20.90 lakh and Rs. 29.90 lakh.
The entry-level car was unveiled by cricketer Sachin Tendulkar and race car driver Armaan Ebrahim here.
"The breathtaking agility and sophisticated functionality make it the perfect car for people who are passionate about driving and want to make their mark," said Philipp von Sahr, president, BMW Group India.
Luxury carmaker BMW introduced the world to its hotly anticipated M4 coupe during the 2013 Pebble Beach weekend.
The M4 coupe is an enhanced version of the BMW 4-Series coupe, which will go on sale in October this year. While the 4-Series will sell as a coupe, the company's current 3 Series is selling as a wagon or sedan.
The BMW M4 sports a lower & wider stance than the company's 3-Series upon which it's based.
Castries (St. Lucia), July 20 : West Indies Test and Twenty20 captain Darren Sammy has etched his name in the history books by becoming the first Caribbean sports personality to be named brand ambassador for German automobile giant BMW.
In accepting the role, the Windies skipper was presented with a BMW sports convertible from St. Lucian BMW representatives Ultimate Automobiles Friday, reports CMC.
The Income Tax (I-T) department of the government of India has indicated that it will soon send a Rs 650 crore show-cause notice to German luxury car maker, BMW.
The company has been served with the tax notice after Department of Revenue Intelligence and the Customs Department, Chennai found that the super car manufacturer has indulged in customs duty evasion. Officials have said that that the income tax department is likely to send the show cause notice to the company within two weeks.
The Special Investigation Branch of Customs is reportedly probing whether luxury car maker BMW AG's Indian arm has evaded custom duty.
A source from the Customs department has revealed that the Indian tax authorities believe that German car maker BMW's Indian arm has evaded taxes to the tune of more than Rs 500 crore.