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BMW, Toyota warn about Chinese market slowing down

BMW and Toyota are the latest automakers to become concerned about the closing throttle on the once rapidly accelerating vehicle market in China. There might be drastic effects on their ledgers at the end of the year. With the Chinese stock market no longer looking so healthy, the people just aren't buying as many new cars as in the past. Things got really bad in June after the first drop in deliveries in two years. BMW has already reduced Chinese production by 16,000 units so far this year. Despite the slowdown, the company has kept a brave face. "We experience that volatility in all emerging markets," BMW CEO Harald Krueger said in a conference call, according to Automotive News. The problem for Toyota is a bit stranger. Through July, the automaker's Chinese deliveries were actually up 12 percent. However, the gain was offset by falling sales prices. "This is making our business in China quite difficult. The business environment is getting tougher," Toyota Managing Officer Tetsuya Otake said, Automotive News reported. Much of the weakness in China has come in the middle part of the year, and from January through June deliveries were still up 8.4 percent. This means the effects haven't hit the financial results of some automakers too hard quite yet. In the second quarter, General Motors referenced the "challenging conditions" there but still posted a growing net income of $1.1 billion. Despite falling global sales, Toyota managed record income for the quarter, too.

BMW recalls 840,000 vehicles to replace Takata airbags

The Basics: BMW will recall about 840,000 vehicles in the US, and they include: 2008–2013 1 Series Coupe (incl. 1M) 2008–2013 1 Series Convertible 2008–2013 3 Series Sedan (incl. M3) 2009–2011 335d Sedan 2006–2012 3 Series Sports Wagon 2007–2013 3 Series Coupe (incl. M3) 2007–2013 3 Series Convertible (incl. M3) 2013–2015 X1 2007–2010 X3 2007–2013 X5 (incl. X5 M) 2009–2013 X5 xDrive35d 2008–2014 X6 (incl. X6 M) 2010–2011 X6 ActiveHybrid The full list, which includes approximate volumes and production dates, is in BMW's statement, below. The Problem: The vehicles have Takata's PSDI-5 driver side airbag inflators, and the parts could rupture in a crash. Injuries/Deaths: None reported in this population of vehicles. The Fix: BMW will replace the driver airbag on these vehicles. If You Own One: BMW will send owners a letter advising them about the recall, and people will receive a second letter when the parts are available for the repairs More Information: This recall stems from Takata and NHTSA's announcement in late January that automakers need to repair about five million vehicles. Mercedes-Benz, Volkswagen, Audi, Ford, Mazda, and Honda have already announced recalls due to this expansion. Related Video: BMW statement BMW has notified NHTSA of its intention to recall approximately 840,000 cars and Sports Activity Vehicles equipped with Takata PSDI-5 driver-side front air bags to have the driver-side front airbag replaced. These vehicles, covering model years 2006-2015 have not been part of earlier Takata-related air bag recalls. Owners of potentially affected BMW vehicles will be contacted by first-class mail advising them of the recall. When replacement parts are available, owners will receive another letter with instructions for having the recall completed. Owners with questions can contact BMW Customer Relations at 1-800-525-7417 or e-mail CustomerRelations@bmwusa.com. Model Model Years Approx. Vol. Production Dates 1 Series Coupe (incl. 1M) 2008 – 2013 32,620 Nov 2007 – Oct 2013 1 Series Convertible 2008 – 2013 28,160 Nov 2007 – Oct 2013 3 Series Sedan (incl. M3) 2006 – 2011 132,845 Feb 2005 – Dec 2011 335d Sedan 2009 – 2011 4,160 Mar 2008 – Aug 2011 3 Series Sports Wagon 2006 – 2012 3,270 Jun 2005 – May 2012 3 Series Coupe (incl. M3) 2007 – 2013 129,515 Apr 2006 – Jun 2013 3 Series Convertible (incl.

Toyota sells off Tesla shares, too

The incredible rise of Tesla's stock price has done little to now stop two major shareholders from ditching their stake in the American EV manufacturer. First, Daimler, parent company of Mercedes-Benz, ditched its four-percent stake, and less than a week later, Toyota is doing the same thing, selling off an undisclosed bit of its Tesla investment.
The move comes as Toyota winds down sales of the RAV4 EV, which gets its batteries and electric motor from Tesla at the company's Fremont, CA factory.
"We have a good relationship with Tesla, and will evaluate the feasibility of working together on future projects," Toyota spokesperson Kayo Doi told Bloomberg via email.