Overview

• BMW is recalling 1.53 million vehicles due to a faulty braking system identified during internal checks.
• The recall affects models across BMW, Rolls-Royce, and MINI brands, including vehicles produced between June 2022 and August 2024.
• BMW's financial outlook for 2024 has been reduced, with expected earnings and sales targets lowered due to recall costs and weak demand in China.
• Continental AG, the supplier of the braking system, has developed diagnostic software to detect potential faults before they occur.
• BMW shares dropped over 11% following the announcement.