BMW Recalls 1.5 Million Cars Over Faulty Brakes

The recall will have a "negative worldwide sales effect in the second half of the year," said the group, which also includes the Rolls-Royce and Mini brands.

BMW said Tuesday it was recalling about 1.5 million vehicles due to problems with their brakes and cut its outlook for the year, sending the German luxury carmaker's shares tumbling.

The recall will have a "negative worldwide sales effect in the second half of the year," said the group, which also includes the Rolls-Royce and Mini brands.

The financial impact in the three months to the end of September will be in the "high three-digit million" euro range, it said.