The German luxury auto manufacturer BMW (NASDAQ: BMWYY) just unveiled the latest auto technology: the sedan 2017 7 series that comes with remote parking. This is the first worldwide vehicle to have a feature like this. Meanwhile, the automaker has been forced to recall its 2015 M5 and M6 over driveshaft problems. Its stock has declined 1% following Goldman downgrade.
Sedan 2017 7 series comes with remote parking
The remote parking is a very easy to use function. If you have a very narrow and tight parking space which is difficult to get in and out from, you just take the display key, park your car right in front of the parking spot and by placing and pushing your finger on the display key, you drive the car into the narrow parking. The car automatically detects any obstacles or people that may be wandering around.
It is equally easy to come out of the parking: take your display key, start the engine, and remotely drive the car back out of the parking, easily get in. This is very customer focused and the first worldwide feature in BMW series.
The BMW 7 series models, with exception of the 740e that was recently introduced, will come equipped with this feature from October onward, at no extra cost.
BMW forced to recall its 2015 M2 and M6 over driveshaft problem
BMW will recall some 956 M5 sedans and M6 coupes for driveshaft problems. The vehicles were manufactured between September and December 2014.
NHTSA claims that the vehicles’ driveshafts were not adequately welded during their production process. The affected driveshafts could break and fail, and as a consequence, the rear wheels could loose power causing the vehicle to roll when exited or turned off without applying the parking brake. Recalled cars will be inspected and replaced by BMW dealers beginning September 6.
BMW stock fall 1% following downgrade from buy to neutral by Goldman
BMW stock (NASDAQ: BMWYY) declined in the past week falling from $29.9 to the existing price of about $29.20. The shares have fallen further by 1% following a downgrade by Goldman from buy to neutral. The stock’s 52-week peak was in November when it traded at $37.50.