BMW is lowering sales and earnings targets for the 2024 fiscal year, citing costs related to a recall of a faulty integrated braking system affecting 1.53 million vehicles.
The issues, identified during an internal quality check, led to a safety recall in February, but since then additional cases have emerged, expanding beyond the original recall scope.
BMW anticipates significant losses in third-quarter earnings, with costs linked to the recall reaching a "high three-digit million (euro) amount," impacting global operations.
To mitigate future risks, BMW developed diagnostic software that alerts drivers to potential brake faults, emphasizing their commitment to safety and customer service.
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