As part of BMW's "Neue Klasse" (New Class) step change in its product portfolio they have introduced a new BMW "Roundel" logo. 

You have too look hard to tell the differences but the main change is to strip out the "chrome", which is line with the overall design language which is cleaner and uses much less fussy detail.

The badge differs from the logo used in letterheads, media etc.

You can read the history of the logo here and, no, it never was a propeller!