- BMW (Bayerische Motoren Werke ADR) BMWYY has reportedly issued a "do not drive" alert for the 90,000 affected sedans and SUVs with faulty airbags.
- The move comes after Hondo Motor Co Ltd HMC and Ford Motor Co F issued similar orders about Takata Corp airbags, reported Bloomberg.
- The airbags hold the risk of explosion if deployed after long-term exposure to high heat and humidity.
- At least 25 deaths and more than 400 injuries in the U.S. have been linked to the faulty airbags.
- The report further noted the defect had affected about 34 car brands.
- BMW's 2000-2006 BMW 3 Series (E46), including M3, the 2000-2003 5 Series (E39), including M5, and the 2000-2004 X5s (E53) are the affected models.
- Price Action: BMWYY shares closed higher by 2.77% at $38.15 on Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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