Story behind this trade is quite simple:
Until today BWM denies to be involved in the collusion scandal about Germany's car makers. According to latest news this is not true.
Short term BMW is facing massive problems with regulators and customers class action. Same time BMW is part of every investment strategy of large investors to cover Europe and/or Germany. This funds owned stocks are likely to be sold now.
Same time Germany's car makers facing huge problems about missing electric powered cars - in large investors view. 2018 will tell the opposite story. BMW might become the first carmaker able to produce and to sell 1 Million battery powered cars in 2020. This might turn arround stockmarket price by 2018 and could push all German Auto makers and the DAX to unseen new highs by 2020. Same time Investors should focus next 12 month more on TSLA - even as M&A target.