It took BMW AG more than two years to discover the extent of a braking system fault that is expected to cost the carmaker nearly €1 billion ($1.1 billion) to fix.

According to media reports, BMW took more than two years to discover the full extent of the fault in its car's braking system. Reports mention that the first faulty brake complaints came in June 2022.

In a significant setback for the luxury automaker, BMW AG has announced a massive recall affecting 1.5 million vehicles worldwide due to a faulty braking system. The recall, which is expected to cost the company nearly €1 billion ($1.

BMW AG has had to lower expectations for the year after a faulty braking system from supplier Continental AG prompted a recall and halt to deliveries of some 1.5 million vehicles.

BMW is recalling 1.5 million vehicles worldwide across its three-brand lineup over a braking system issue, including 270,000 cars in the United States. The recall impacts selected cars built since August of 2022, including the BMW 5-Series and 7-Series, the Rolls-Royce Spectre, two Mini variants, and multiple BMW crossovers.

BMW now has to issue a profit warning due to problems with electric brakes that have persisted since March. Over one and a half million cars are affected.

BMW cut its annual outlook over over a faulty braking system from Continental that prompted recalls and delivery stops affecting 1.5 million vehicles. The automaker now forecasts an operating margin as low as 6 percent,

BMW took over two years to discover the extent of a braking system fault that is expected to cost it almost EUR1bn (US$1.1bn) to fix. Customers and dealers began complaining to the automaker about faulty brakes in June 2022,

BMW faces a €1 billion recall affecting 1.5 million cars due to faulty brakes. Complaints began in June 2022, but severity was only realized last month.

BMW Group was alerted to a braking system fault in 2022 that is expected to cost the automaker nearly €1 billion to fix and could affect up to 1.5 million vehicles.