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BMW planning Chinese recall for engine part issue [w/video]

After receiving an unspecified number of complaints in China, BMW has reportedly started a "full investigation" into what may be a defective part in its VANOS engine control system. BMW said via a Chinese blog that it would file a recall application with the the General Administration of Quality Supervision, Inspection and Quarantine in China.
BMW has not yet announced how many vehicles will be recalled, or which models the potential recall might cover. We're also curious as to whether the VANOS issue could extend into markets outside of China.
We've placed a call with BMW in the United States, and will update this post as soon as we hear back. Stay tuned for more, and if you're curious about what VANOS is and how it works, scroll down below for a video animation.

Why BMWs are cheaper than Hyundais in Korea

Bloomberg reports shifting tariff regulations have upended the traditional automotive pecking order in Korea. Thanks to cheaper import taxes, foreign brands have seen market share jump from 28 percent to 41 percent over the last two years. BMW, Mercedes-Benz and Audi have all capitalized on the shift, with domestics like Hyundai and Kia suffering at the hands of their German rivals.
Taxes on European imports have fallen from 8 percent in 2011 to just 3.2 percent today. Over the next few years, tariffs will all but be eliminated for most imports, and taxes on US-made vehicles are expected to fall to just 4 percent in 2014. By 2016, that number will be zero. Needless to say, Hyundai and Kia are concerned about the shift.
Hyundai has seen profit fall by 15 percent last quarter, and the company says it is on pace to see the slowest sales growth since 2007. The company's shares have fallen by 12 percent. In order to stem the losses, Hyundai has discounted its midsize sedans and started working on diesel engine options.

BMW brings first diesel 7 Series to US with $82,500* 740Ld xDrive

After almost 40 years on the market, there are probably few things the BMW 7 Series hasn't offered, but when it comes to the US market, one of those things just happens to be a diesel engine. That is all about to change, however, as BMW announced that it will unveil the 2014 740Ld xDrive at the Chicago Auto Show before sales commence later in the spring.
Offered only on long-wheelbase models with standard all-wheel drive, the new diesel 7 is powered by BMW's 3.0-liter inline-six producing 255 horsepower and a stout 413 pound-feet of torque peaking between 1,500 and 3,000 rpm. While BMW has yet to release any type of fuel economy figures, it did say that its diesel technology is usually good for an improvement of 25 to 30 percent over the gas models - just for fun, that means that the 740 Ld xDrive could get as much as 24.7 miles per gallon in the city and 36.4 mpg on the highway, but that's just doing the math and there is nothing official behind those numbers. Acceleration will take a little longer than in the 740Li xDrive (shown above) with BMW stating 6.1 seconds from 0-60 compared to 5.4 seconds for the gas model.
Another small increase over the gas version will be in price, with the 740Ld xDrive getting a starting MSRP of $82,500 (*not including $925 for destination), which is just a $1,500 bump over the 740Li xDrive. For comparison, the Audi A8L TDI starts at $78,800, while the previous-gen Mercedes S350 Bluetec was priced at $93,000. Scroll down for more info on the new diesel-powered 7 Series, and stay tuned to our live coverage from Chicago in a couple weeks as we'll have live images and hopefully more info.