BMW braking system recall of 1.5M cars contributes to auto maker's decision to cut back 2024 outlook [Yahoo! Finance]
CONTL AG S/ADR (CTTAY)
NASDAQ:AMEX Investor Relations:
continental-corporation.com/en/investors/overview
Company Research
Source: Yahoo! Finance
triggered by hefty expenses of addressing a braking system recall that impacts more than 1.5 million vehicles worldwide. Munich-based BMW Group said Tuesday that actions related to addressing a faulty integrated braking system, made by a supplier for the company, would reach “a high three-digit million (euro) amount” for the third quarter. Halted deliveries for impacted vehicles not already in customer hands are also expected to negatively impact sales. A spokesperson for BMW Group, which also owns Rolls-Royce and Mini brands, confirmed to The Associated Press via email that the company first identified the issue during an internal quality check. That prompted a safety recall in February, but since then additional cases have been identified “beyond the scope of the original recall.” Now, BMW expects that some 1.53 million vehicles across five countries are affected — including about 370,000 in China, 270,000 in the U.S., 150,000 in Germany, 70,000 in Korea and 60,000 in France.
Show less
Read more
Impact Snapshot
Event Time:
CTTAY
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
CTTAY alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
CTTAY alerts
High impacting CONTL AG S/ADR news events
Weekly update
A roundup of the hottest topics
CTTAY
News
- BMW Recalls More Cars After New Issue With Continental's Brakes [Yahoo! Finance]Yahoo! Finance
- Continental AG: Spin-Off In Response To Apparent Undervaluation [Seeking Alpha]Seeking Alpha
- All-Weather Tire Market to touch USD 328.20 Billion by 2032: An Upsurge in Demand Likely Due to Versatility and Sophistication in Tire Technologies | Report by SNS Insider [Yahoo! Finance]Yahoo! Finance
- BMW cuts 2024 outlook after braking system recall of 1.5 million cars costs it ‘a high three-digit million amount' [Fortune]Fortune
- BMW braking system recall of 1.5M cars contributes to auto maker's decision to cut back 2024 outlook [Financial Post (Toronto, Ontario, Canada)]Financial Post