Team-BHP - BMW shares drop on report that X3 diesel's emissions exceeded EU limit

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BMW AG said it doesn’t cheat on emissions tests, responding to a report in German magazine Autobild that the X3 sport utility vehicle exceeded the European limit for air pollution.[/b]

The stock fell as much as 9.7 percent, the most in more than four years, on concerns that the luxury-car maker would be enmeshed in the diesel-emissions scandal that led to the resignation of Volkswagen AG’s chief executive officer on Wednesday.

A four-wheel-drive variant of the [b]BMW SUV had emissions more than 11 times the European limit when road-tested by the International Council on Clean Transportation, the same group whose tipoff led U.S. regulators to investigate a gap between the emissions VW and Audi diesel-powered cars in the testing lab and on the road, Autobild said.

“The BMW Group does not manipulate or rig any emissions tests,” the Munich-based company said in a statement in response to the report. “We observe the legal requirements in each country.”

Emissions measured in road tests of 15 new diesel cars were an average of about seven times higher than European limits, according to a study ICCT published last October.
Source

How lame the stock markets are. A single unverified report from a car magazine sends the share price tanking.

AutoBild later released a statement saying:

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The values mentioned in the document were only generated in a single, one hour-long road test. Auto BILD has no access to the details of this test trail, which might explain the discrepancies to the test cycle NEDC.

In light of the VW emission scandal, AUTO BILD deems it of utmost importance to emphasize that the communicated emission value of the tested BMW X3 is by no means proof of manipulation or the existence of a defeat device as found in the vehicles of VW.....AUTO BILD never intended to accuse BMW of manipulating emission levels.

I don't think BMW or Mercedes would indulge in such trickery.

Quote:

Originally Posted by GTO (Post 3811029)

How lame the stock markets are. A single unverified report from a car magazine sends the share price tanking.

Stock market comprises of millions of people. Therefore it is a true reflection of how humans (as a group) behave ...
Come to think of it this way:

"How lame the human beings are. A single unverified report from an anonymous source sets the tongues wagging even about their trusted folks/things"

We are gossipy and we are panicky.
lol:

Quote:

Originally Posted by CrAzY dRiVeR (Post 3811043)

Pardon my ignorance on the luxury diesels- but does BMW have a system similar to the Bluetec technology from Mercedes?

Yeah. Basically they use Urea (aka AdBlue). It needs to be refilled every 10,000 miles or so. The USA is so strict that it forced these guys to disable engine start-up if the urea tank runs dry, thus making it mandatory for owners to replenish the tank.

Link 1 & Link 2.

Such systems are easier to implement in expensive cars which have fat profit margins versus cheaper diesel cars. The main reason that VW cheated is to save $$$.