BMW could move more of its crossover production to China since the tariffs between the United States and China are expected to dent the BMW’s 2018 earnings by 300 million euro, Chief Financial Officer Nicolas Peter said on to Automotive News. The CFO says “a final decision in the coming weeks about which model to localize next in China.”
“We will take a final decision in the coming weeks about which model to localize next in China,” Peter said, adding that sales of the X3 offroader have risen since BMW decided to build it in Asia.
The boar member refrained to comment on how this movie would affect the jobs and investments in Spartanburg.
“If the tariffs undermine the competitiveness of BMW production and sales in the U.S., the result could be strongly reduced export volumes with negative effects on investments and jobs in the U.S.,” according to BMW spokesman Kenn Sparks.
In October, BMW said it would spend $4.2 billion to take control of its main joint venture in China, a move which will protect profits during the uncertain tariffs war.
The US plant built more than 370,000 crossovers in 2017, of which more than 270,000 were exported to China and other global markets.
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