BMW Reimbursing $72 Million to Misled Customers
In what might be Australia’s largest consumer pay-back, BMW is returning up to $72 million into the pockets of ordinary Australian buyers who were supposedly led to believe they could afford one of the luxury vehicles. It was revealed that BMW was giving considerable loans to buyers with little to no disposable income, enabling them to purchase the vehicle without having the means to pay it back. Salesmen who sold the most vehicles – even to those who couldn’t afford it – were given bonuses. Is this an issue with BMW specifically, or the culture of car sales? Could this lead to a shakedown of the entire automobile industry? For more The Daily was joined by Michael Bachelard, Investigative Editor for the Age.
Producer: Max Mahood, Emilia Aslan, Max Lewis