BMW shares flat after recall announcement

<p>Shares in BMW have slipped after the company announced it is recalling 720,000 cars worldwide.</p>

Shares in BMW are flat on the Frankfurt Stock Exchange this morning (February 20th), on news the German car giant is recalling 720,000 cars worldwide.

This decision has arisen from a potential electrical fault that may cause vehicles to stall unexpectedly and it is reported that most of the affected units are in North America.

BMW stated the problems resulted in one minor collision in Canada but no injuries and owners are expected to be notified next month.

Versions of the 1-Series and 3-Series cars and the Z4 sports car are included in the recall, with 505,000 being shipped back from the US, 65,000 from Canada, 100,000 from Japan and 50,000 from South Africa. No European cars will need to return to the production line.

At 09:25 GMT, BMW's share price slipped by 0.1 per cent on the Frankfurt Stock Exchange to €71.71 per unit.

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